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_::. ~ ~ I. <br />Bond No. 190542662 III IIIIIIIIIIIIIIII ly' 'S~tmtetlt~li y~ranspor[atigon <br />~i7 M~e~a~¢ ~9 . <br />PERFORMANCE BOND ogy <br />{{ hKNOW ALL MfEN BY THESE PRESENTS, That we Elam Construction, Inc. <br />°AmeilcanCLpasu~lty Company' in the State of Colorado as Principal, and <br />_Q£ nn~.tiAgry of Reid ____, in the State of <br />duaaia------ ------ ~~------- <br />____________ as surety, are held and firmly bound unto the STATE OF <br />COLORADO, in the penal sum of S[X MILLION FIVE HUNDRED SEVENTY <br />FOUR THOUSAND THREE HUNDRED DOLLARS ($6,574,300.00), with interest <br />thereon at the rate of eight per cent (8%) per annum until paid, in good and lawful <br />money of the United States of America, for the payment whereof, well and truly to <br />be made, we bind ourselves, our and each of our heirs, administrators, executors, <br />successors and assigns, jointly and severally, firmly by these presents. <br />The condition of the obligation is that the Principal and the State of Colorado <br />acting by and through the Principal Representative have entered into a certain <br />Contract, dated 1999, for the construction of a PROJECT <br />described as' Colo ado Project No. SP 0501-037, located on US 50 south oC Grand <br />Junction from Whi[ewater (~[P 42.0) east to MP 45.95 in Mesa County in the State o[ <br />Colorado. The work consists of major widening to create two travel lanes with shoulders <br />involving earthwork, paving, CBC, culverts, guardrail, signing striping and traffic <br />control; said work of construction to be done according to the requirements of said <br />contract; <br />NOW THEREFORE, if the said Principal shall at all times duly and faithfully <br />discharge its, his or their duties under said contract, and shall duly and faithfully <br />perform all the obligations thereof, and shall and will indemnify and save harmless <br />the State of Colorado, and all persons as provided by the Statutes of the State of <br />Colorado, from any and all damages or loss which the said State of Colorado or any <br />persons as provided by the Statutes of the State of Colorado may or shall suffer by <br />reason oC the default of the Principal or anyone acting for hitn as sub-contractor or <br />otherwise in the performance of this contract, or by reason of any failure on the <br />part of said Principal, his agents, servants or employees, his sub-contractor or sub- <br />contractors, or any of them, in the performance of said contract or any portion <br />thereof, these presents shall become void, otherwise to be and remain in full force <br />and effect. <br />THE STATE OF COLORADO shall be under no obligation, except as expressly <br />provided by statute, to withhold any sums due the said Principal under the terms of <br />this contract, or to protect in any other way the surety or sureties, claimants or <br />others. <br />OLson & Olson, Ltd. <br />Dittinttivt Inn~ranu &rvrua <br />333 W. Hartt '' deft Ave., Ste 440 <br />P.O. Box ~4b7 <br />Englewood, CO BOI50 <br />303/761-0085 Fu 303/788-1817 <br />C[qi Form+BS Rio! <br />