Reso 2008-1298 - Laserfiche WebLink

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PART B: OTHER TERMS PROVIDED, HOWEVER, that by its acceptance of this bond, Obligee understands and agrees that this bond is subject to the following: a. This bond is for a specified term,beginning on August 15,2010 and ending on August 15, 2011. b. This bond may be extended for one or more additional terms, at the option of the Surety, by one or more continuation certificates executed by the Surety. The Surety is not hereby obligated to issue a bond on any subsequent period or term under the Contract, and neither non-renewal by the Surety nor failure of the Principal to provide a replacement bond for a subsequent term shall constitute default under this bond. c. In the event of a default relating to the Principal's bonded obligations during the term of this bond, the Surety shall be liable to Obligee only for the actual costs incurred by Obligee as result of Principal's default, and only as those costs are incurred from the date of the default through the last date of the term of this bond. d. In no event shall Surety's liability on this bond exceed the penal sum stated in this bond(above). In addition, regardless of the number of extensions or continuations that may occur or the number of premiums paid (or payable)by Principal in connection therewith, Surety's liability shall not be cumulative from year to year or from period to period. e. No claim, action, suit or proceeding shall be had or maintained against the Surety on this bond, unless it is brought or instituted and process served upon the Surety within one hundred eighty (180)days following the last date of the term of this bond. SIGNED AND SEALED THIS 14th DAY OF JULY,2010. STOCKTON MAINTENANCE GRO ' ' PRINCIPAL By ougla ..Riordan (affix corporate seal, if any, above) Its President AEGIS SECURITY INSURANCE COMPANY,SURETY By Ronald Kaihoi Its Attorney-In-Fact ACORA SURETY&INSURANCE SERVICES,LLC PO BOX 506 Montevideo,MN 56265 (320)269-8546 Page 2 of 3 ®2002 Goldleaf Financial,Ltd.