02 "T" Hangar Specs--Previous - Laserfiche WebLink

Home Browse Search

I. The Contractor and the Surety, jointly ard severally, bind themseives, their heirs, erecutors, administrators, successors and assigns to the Owner to pay Cor labor, materials and equipment furnished for use in the petior- mance oC the Construction Contract, which is incorporated herein by reference. 2. With respect to the Oµ•ner, this obligation shall be null and void if the Contraclor: 2.1. Promptly makcs payment, directly or indirectly, for all sums due Claimants, and 2.2. befends, inJemnifies and holds harmless the Owner from all claims. demands, lieas or suits by any person or entity who furnished labor, materials or equipment !or use in the performance of the Construction Contnct, provided the Owner has prompUy nolified the Contractor and the Surcty (at the address described in Para- graph 12) of any claims, demands, liens or suits and tendered deFense of such claims, demands, liens or suits to the Contractor and the Surety, and provided there is no Owner Default. 3. With respect to Claimants, this obligation shall be null and void if the Contractor promptly makes payment, directly or indirectly, for all sums due. • 4. The Surety shall have no obligation to Claimants under this Bond until: 4.1. Claimants who are employed by or have a direct contract with the Contractor have given notice to the Surety (at the address described in Paragraph 12) and sent a copy, or notice thereof, to the Owner, stating that a claim is being made under this Bond and, with substantial accuracy, the amount of the claim. 4.2. Claimants who do not have a direct contract with the Contractor: I. Have furnished written notice to the Contractor and sent a copy, or notice thereof, to the Owner, within 90 days after having last performed labor or last furnished materials or equip- ment included in the claim stating, with substantial accuracy, the amount of the claim and the name of the party to whom the materials were furnished or supplied or for whom the labor was done or performed; and 2. Have either received a rtjection in whole or in paK from the ContraCtor, or not received within 30 days of fumishing the above notice any communication from the Contractorby which the Contractor has indicated the claim will be paid directly or indirectly; and 3. Not having been paid within the, above 30 days, have scnt a written notice to the Surety (at th'e address described in Para- graph 12) and sent a copy, or notice thereof, to the Owner, stating that a claim is being made under this Bond and enclosing a copy of the previous written notice furnished to the Con- tractor. 5. If a notice required by Paragraph 4 is given by the Owner to the Contractor or to the Surety, that is sufficient compliance. 6. When the Claimant has satisfied the conditions of Paragraph 4, the Surely shall promptly and at the Surety's expense take the following actions: 6.1. Send an answer to the Claimant, with a copy to the Owner, within 45 days after «ceipt of the claim, stating the amounts that are undisputed and the basis for ehallenging any amounts that are disputed. 6.2. Pay or arrange for payment of any undisputed amounts. 7. The Surety's total obligation shall not exceed the amount of lhis Bond, and the amount of this Bond shall be credited for any payments made in good [aith by the Surety. 8. Amounts owcd by the Owner to the Contractor under the Construction Coatract shall be used for the performance o[ the Construction Contract and to satisfy claims, if any, under any Construclion Performance Bond. By the Contractor furnishing and the Ownor accepting this Iiond, they agree that all funds earned by the Contractor in the pesloermancc of the Construction Contract are dedicated to satisfy obligations of the Con- Iractor and the Surely under this Bond, subject to the Owner's priority to use the funds for the completion of the work. 9. The Surcty shall nol be liable to the Owner, Claimants or others for obligations oC the Coatractor that are unrelated to the Construction Con- tracl. The Owner shall not be liable for payment of any costs or expenses of any Claimant under this Bond, and shall have under this Bond no obligations to make payments lo, give notices on behalf of, or otherwise have obligations to Claimants under this Bond. 10. The Surety hereby waives notice of any ch,roge, including changes of time, to the Construction Contract or lo related subcontracts, purchase orders and other obligations. 11. No suit or action shall be commenced by a Claimant under this Bond other than in a court of competent jurisdiction in the location in which the work or part of the work is located or after the expiration of one year from the date (1) on wNich the Claimant gave the notice required by Subparagraph 4.1 or Clause 4.2 (iii), or (2) on which the last labor or service was perf'ormed by anyone or the last materials or equipment were furnished by anyone under the Construction Contract, whichever of (1) or (2) first occurs. lf the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense in the jurisdiclion of the suit shall be applicable. , - 12. Notice to the Su7ety, the Owner or the Contractor shall be mailed or delivered to the address shown on the signature page. Actual receipt of notice by Surety, the Owner or the Contractor, however accomplished, shall be sufficient compliance as of the date received at the address shown on the signature page. 13. When this Bond has been furnished to comply with a statutory or other legal requirement'in the location where the construction was to be per-formed, any provisioh ie this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and pruvisions con- forming to such statutory or other legal requirement shall be deemed incorporated herein. Tfie intent is, that this Bond shall be construed as a statutory bond and not as a common law bond. 14. Upon request by any person or entity appearing to be a potet+tia' beneficiary of this Bond, the Contractor shall promptly furnish a copy o. this Bond or shall permit a copy to be made. 15. DEFINI'fIONS I5.1. Claimant: An individual or entity having a direct contract with the Contractor or with a subcontractor of the Contractor to furnish labor, materials or equipment for use in the performance of the Contract. The intent of this IIond shall be to include without limitation in the terms "labor, materials or equipment" that part of water, gas, power, light, heat, oil, gasoline, telephone service or rental equipment used in the Construciion Contract, architec- tural and engineering services required for perCormance of the work of the Contracior and the Contractor's subcontractors, and all other items for which a mechanic's lien may be asserted in the jutisdiction where the labor, materials or equipment were furnished. 15.2. Construction Contracl: The agreement between the Owner and the Contractor identified on the signature page, including all Contract Documeats and changes thereto. 15.3. 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 compkte or comply with the other terms thereof. (FOR INFORhtATION ONLY-Name, Address and Telephone) AGENT or BROKER: OWNER'S REPRESENTATIVE (Architect, Engineer or other party):