Reso 2010-1620 - Laserfiche WebLink

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21BCSFW4198 shall be instituted within two years after Contractor Default or within two years after the Contractor ceased working or within two years after the Surety refuses or fails to perform its obligations under this Bond, whichever occurs first. If the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense in the jurisdiction of the suit shall be applicable. been made, including allowance to the Contractor of any amounts received or to be received by the Owner in settlement of insurance or other claims for damages to which the Contractor is entitled, reduced by all valid and proper payments made to or on behalf of the Contractor under the Construction Contract. 10 Notice to the Surety, the Owner or the Contractor shall be mailed or delivered to the address shown on the signature page. 12.2 Construction Contract: The agreement belween the Owner and the Contractor identified on the signature page, including all Contract Documents and changes thereto. 11 When this Bond has been furnished to comply with a statutory or other legal requirement in the location where the construction was to be performed, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted here from and provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. The intent is that this Bond shall be construed as a statutory bond and not as a common law bond. 12.3 Contractor Default: Failure of the Contractor, which has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Construction Contract. 12 DEFINITIONS 12.4 Owner Default: Failure of the Owner, which has neither been remedied nor waived, to pay the Contractor as required by the Construction Contract or to perform and complete or comply with the other terms thereof. 12.1 Balance of the Contract Price: The total amount payable by the Owner to the Contractor under the Construction Contract after all proper adjustments have MODIFICATIONS TO THIS BOND ARE AS FOllOWS: None (Space is provided below for additional signatures of added parties, other than those appearing on the cover page.) CONTRACTOR AS PRINCIPAL Company: (Corporate Seal) SURETY Company: (Corporate Seal) Signature: Name and Title: Address: Signature: Name and Title: Address: All', DCCU!~ENT A312. PERFCR~!ANCE BOND AND PAyt.mNT BOND . DECEt'1BER }9B4 ED. . .!;IA ~). THE .'.YEP-TCfI.N INSTITUTE OF J\RCHTTECTS, J.735 NE~'J YORK !..VENUE, 1'J.~';' I \';l\SHINGTON, D.C" 20006-5292 . THIRD PRINTING . !~iI...RCH :198.7. ~"JARNING; Unlicensed photocopying violates U.S. copyright laws and is subject to legal prosecution. This documcnt has been rcproduecd electronically with thc permission of Thc Amcriean Institutc of Architects undcr Liecnse 1i2104 to The Hartfi.\rd Fidelity and Bonding Company. Reproductiou of this document without projcct-spccific inf(Jrlnation is nol permittcd. Ce,nlact Thc Amcrican Institute of Architccts to verify thc clIn-cnt version of this document and license status. Electronic Format A312-1984 3