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AND THE SAID SURETY, for value received hereby stipulates and agrees that whenever the Principal shall be, and <br />declared by the Principal Representative to be in default under said Contract, the State of Colorado having performed its <br />obligations thereunder, the Surety may promptly remedy the default or shall promptly (1) Complete the Contract in accordance <br />with its terms and conditions, or (2) Obtain a bid or bids for submittal to the Principal Representative for completing the <br />Contract in accordance with its terms and conditions, and upon determination by the Principal Representative and Surety of the <br />lowest responsible bidder, arrange for a contract between such bidder and the State of Colorado acting by and through the <br />Principal Representative and make available as work progresses (even though there should be a default or a succession of <br />defaults under the contract or contracts of completion arranged under this paragraph) sufficient funds to pay the cost of <br />completion, less the balance of the contract price but not exceeding, including other costs and damages for which the Surety <br />may be liable hereunder, the amount hereinbefore set forth. The term "balance of the contract price" as herein used shall mean <br />the total amount payable to the Principal under the Contract and any amendments thereto, less the amount properly paid by the <br />State of Colorado to the Contractor. <br />Colorado. <br />No right of action shall accrue on this bond to or for the use of any person or corporation other than the State of <br />` y [N.- (6NESS WHEREOF said Principal and Surety have executed this Bond, this 14TH day of <br />SEPTE-MMERD.,XX2000 <br />J J "} rporate Seal) THE PRINCIPAL <br />DIRT-N-IRON. IN <br />BY <br />Title : MAXIN • M. FRT .K AS PRFSTT)FNT <br />Secretary <br />(Corporate Seal) SURETY <br />BY =?P4? <br />Attorney-in-fact <br />WILSON W. COLEMAN <br />v THIS BOND MUST BE ACCOMPANIED BY POWER OF ATTORNEY, EFFECTIVELY DATED <br />Note: This bond is issued simultaneously with <br />another bond conditioned for the full and <br />faithful payment for all labor and material <br />of the contract. <br />State Form SC-6.22 <br />Issued 9/1/65 (Rev. 7/70) <br />395-61-01-6229