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<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!
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