Laserfiche WebLink
AND THE SAID SURETY, for value received'hereby stipulates and.agrees that-when ever the Principal shall be, <br /> and declared by the Principal Representative to be in default under said Contract, the State of Colorado having <br /> performed its obligations thereunder, the Surety may promptly remedy the default or shall promptly (I) Complete <br /> the Contract in accordance with its terms and conditions, or (2) Obtain a bid or bids for submittal to the Principal <br /> Representative for completing the Contract in accordance with its terms and conditions, and upon determination <br /> by the Principal Representative and Surety of the lowest responsible bidder, arrange for a contract between such <br /> bidder and the State of Colorado acting by and through the Principal Kepresentative and'make available as work <br /> progresses (even though there should be a default or a succession of defaults under the contract or contracts of <br /> completion arranged under this paragraph) sufficient funds to pay the cost of completion, less the balance of the <br /> contract price but not exceeding, including other costs and damages for which the Surety may'be liable hereun- <br /> der, the amount hereinbefore set forth. The term "balance of the contract price" as herein used shall mean the total <br /> amount payable to the Principal under the Contract and any amendments thereto, less the amount properly paid <br /> by the State of Colorado to the Contractor. <br /> No right of action shall accrue on this bond to or for the use of any person or corporation other than ,ne <br /> State of Colorado. <br /> IN WITNESS WHEREOF, the Principal and the Surety have executed this. Bond, this 1 7T14 <br /> day of MARCH <br /> (Corporate Seal) PRINCIPAL <br /> DIRT—N—IRON INC <br /> ATTEST: By `4. <br /> Title _MAXTNF. M- FRTCK AS PRPSTTIFNT <br /> Secretary <br /> (Corporate Seal) SURETY <br /> AMWE&T SURETYTN&nRArE COMPANY <br /> O <br /> By <br /> .Attorney-in-fact' <br /> WILSON W. COLEMAN <br /> THIS BOND MUST BE'ACCOMPAHIED<BY A. POWER.OF ATTORNEY, EFFECTIVELY DATED <br /> Notei= This bond is issued simultaneously with <br /> another bond conditioned for the full <br /> and faithful payment for all labor and <br /> material of the contract.' <br /> SssueF r 1SC-6'Rev.7/1/70) <br /> 1: <br />