|
Bond No. 0280167
<br /> GUT M&MCM INSURANCE COMPANY
<br /> An Ohio Corporation with Home Office at 580 Walnut Building,Cincinnati,Ohio 45202
<br /> SUBCONTRACT PERFORMANCE BOND FORM A
<br /> KNOW ALL MEN BY THESE PRESENTS: That Rocky Mountain Constructors , Inc. ,
<br /> 3070 South Wyandot Street, Englewood, Colorado 80110 as Principal,
<br /> (Here insert the name and address,or legal title,of the Subcontractor)
<br /> hereinafter called Principal,and GREAT AMERICAN INSURANCE COMPANY,Cincinnati,Ohio
<br /> as Surety,hereinafter called Surety, Ire held and firmly bound unto Cl aredon Constructi on, Ltd. ,
<br /> 384 Inverness Drive South`, Suite 100, Englewood, Colorado 80112
<br /> (Here i isert the name and address,or legal title,of the General Contractor)
<br /> as Obligee,hereinafter called Obligee,
<br /> d Fourteen Thousand and No/100-----------------------------
<br /> ------------- I ------------------------- --------
<br /> in the amount of Three Hun re
<br /> - -------- - -- Dollars ($ 314 000.00 ),
<br /> for the payment whereof Principal and Surety bind themselves, their heirs,executors,administrators,successors and assigns,
<br /> jointly and severally, firmly by these Ipresents.
<br /> WHEREAS,Principal has by written agreement dated January 27, 1988
<br /> entered into a subcontract with Obligee for Acme Warehouse Phase I I , 18101 East Colfax Avenue,
<br /> Aurora, Colorado. Project No. 7016-135-02200
<br /> in accordance with drawings and specifications prepared by BTS Architectural Group,
<br /> 3010 West 16th Avenue- De"nver, Colorado 80204
<br /> (Hera insert full name and title)
<br /> which subcontract is by reference made a part hereof,and is hereafter referred to as the subcontract.
<br /> NOW,THEREFORE,THE CONDITION OF THIS OBLIGATION is such that, if Principal shall promptly and faithfully
<br /> perform the work as specified in said subcontract, then this obligation shall be null and void;otherwise it shall remain in full
<br /> force and effect.
<br /> Whenever Principal shall be, and be declared by Obligee to be in default under the subcontract, the Obligee having
<br /> performed Obligee's obligations thef eunder:
<br /> (1) Surety may promptly remedy the default subject to the provisions of paragraph 3 herein, or;
<br /> I (2) Obligee after reasonable notice to Surety may, or Surety upon demand of Obligee may arrange for the
<br /> t
<br /> 1 performance of Principals obligation under the subcontract subject to the provisions of paragraph 3 herein;
<br /> (3) The balance of the subcontract price,as defined below, shall be credited against the reasonable cost of completing
<br /> performance of the subcontract. If completed by the Obligee, and the reasonable cost exceeds the balance of the
<br /> subcontract price, the Surety shall pay to the Obligee such excess, but in no event shall the aggregate liability of
<br /> the Surety exceed the amount of this bond. If the Surety arranges completion or remedies the default, that
<br /> portion of the balance of the subcontract price as may be required to complete the subcontract or remedy the
<br /> default and to reimburse the Surety for its outlays shall be paid to the Surety at the times and in the manner as
<br /> said sums would have been payable to Principal had there been no default under the subcontract. The term
<br /> "balance of the subcontract price," as used in this paragraph,shall mean the total amount payable by,Obligee to
<br /> Principal under the subcontract and any amendments thereto, less the amounts heretofore properly paid by
<br /> Obligee under the subcontract.
<br /> Any suit under this bond midst be instituted before the expiration of two years from date on which final payment
<br /> under the subcontract falls due.
<br /> No right of action shall accrue on this bond to or for the use of any person or corporation other than the Obligee
<br /> named herein or the heirs,executors administrators or successors of the Obligee.
<br /> Signed and sealed this 22nd day of FPhrllary A.D., 19°$-.
<br /> ROCKY MOUNTAIN CONSTRUCTORS, INC.
<br /> In the presence of:
<br /> (S eal)
<br /> SS 5716 Lonnie Barn house Principal ice resident
<br /> Subcontract Performance Bond Form A. This GREAT AMERICAN INSURANCE COMPANY (Seal)
<br /> bond is issued simultaneously with Subcontract Surety
<br /> Labor and Material Payment Bond F.9615 (3/82).
<br /> Revised to August, 1956 by
<br /> Lance M. Olson Attornoy•In-Fact
<br />
|