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LABOR AND MATERIAL PAYMENT BOND
<br /> NOW,THEREFORE,THE CONDITION OF THIS OBLIGATION is such that, if Principal shall promptly make payment to all claimants
<br /> as hereinafter defined, for all labor and material used or reasonably required for use in the performance of the Contract, then this
<br /> obligation shall be void; otherwise it shall remain in full force and effect,subject, however, to the following conditions:
<br /> 1. A claimant is defined as one having a direct contract party to whom the materials were furnished, or for whom the
<br /> with the Principal or with a Subcontractor of the principal for work or labor was done or performed. Such notice shall be
<br /> labor, material, or both used or reasonably required for use served by mailing the same by registered mail or certified
<br /> in the performance of the Contract, labor and material being mail, postage prepaid, in an envelope addressed to the
<br /> construed to include that part of water,gas,power,light, heat, Principal, Owner or Surety, at any place where an office is
<br /> oil, gasoline, telephone service or rental equipment directly regularly maintained for the transaction of business,or served
<br /> applicable to the Contract. in any manner in which legal process may be served in the
<br /> state in which the aforesaid project is located, save that such
<br /> 2. The above named Principal and Surety hereby jointly service need not be made by a public officer..
<br /> and severally agree with the Owner that every claimant as
<br /> herein defined, who has not been paid in full before the b) After the expiration of one (1)year following the date on
<br /> expiration of a period of ninety (90) days after the date on which principal ceased Work on said Contract, it being
<br /> which the last of such claimants work or labor was done or understood, however, that if any limitation embodied in this
<br /> performed, or materials were furnished by such claimant, may bond is prohibited by any law controlling the construction
<br /> sue on this bond for the use of such claimant, prosecute the hereof such limitation shall be deemed to be amended so as
<br /> suit to final judgment for such sum or sums as may be justly to be equal to the minimum period of limitation permitted by
<br /> due claimant, and have execution thereon. The owner shall such law.
<br /> no be liable for the payment of any costs or expenses of any
<br /> such suit. c) Other than in a state court of competent jurisdiction in and
<br /> for the county or other political subdivision of the state in
<br /> 3. No suit or action shall be commenced hereunder by which the Project, or any part thereof, is situated, or in the
<br /> any claimant: United States District Court for the district in which the
<br /> Project,or any part thereof, is situated, and not elsewhere.
<br /> a) Unless claimant, other than one having a direct contract
<br /> with the Principal, shall have given written notice to any two 4. The amount of this bond shall be reduced by and to
<br /> of the following: the Principal, the Owner,or the Surety above the extent of any payment or payments made in good faith
<br /> named, within ninety (90) days after such claimant did or hereunder, inclusive of the payment by Surety of mechanics'
<br /> performed the last of the work or labor, or furnished the last liens which may be filed of record against said improvement,
<br /> of the materials for which said claim is made, stating with whether or not claim for the amount of such lien be presented
<br /> substantial accuracy the amount claimed and the name of the under and against this bond.
<br /> Signed and sealed this 10 DAY OF JULY 2002
<br /> OWENS ROOFING,INC.
<br /> (Principal) (Seal)
<br /> (Witness)
<br /> (Title)
<br /> American Casualty Company of Reading, PA
<br /> (Surety) (Seal)
<br /> (Witness)
<br /> =L4 1�1
<br /> (Title)
<br /> Wendy M. Lands ATTORNEY IN FACT
<br /> AIA DOCUMENT A311-PERFORMANCE BOND AND LABOR AND MATERIAL PAYMENT BOND -AIA
<br /> FEBRUARY 1970 ED.-THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 N.Y.AVE.,N.W.,WASHINGTON, D.C. 20006 4
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