1995 S Purchasing - O'Dell Electric Company, Inc. $98,958

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i The Contractor and the Surety, jointly and severally, which it may be liable by thi Owner and, as . bind themselves) theWhe'r9, ty ecutors, administrators, soon a9 proficitable VXAMouht is dethe successors arie as�i�n l�t�t+Owner for the performance Mihed;--,19 Or haeyfdr to the of the Construction Contract,which is incorporated herein Owner; of by reference. .2 Deny liability in.whole�' -M p0i and notify the 2 If the Contractor performs the Construction Contract, Owner titirig reasoriif ffliti ..K4 the Surety and the Contractor shall have no obligation under this Bond, except to participate in conferences as 5 If the Surety does not ptoceedfit Ih Paragraph goad fiftedi. provided in Subparagraph 3.1. 4 with reasonable i ptorttptness,the. 8�1 be deemed to be in default on thit I _ etelpt of an 3 If there is no Owner befault, the Surety's obligation additional wrif'F6 MfRVt_cs _. ' g under this bond shall arise after: demanding that the Surety pt'rfd. IUtis under p this Bond, and the OWMer shall tip'" _ $fit6ree any 3.1 The Owner has notified the Contractor and the remedy available to the Owner. If tilt: &eeils as Surety at its address described In Paragraph 10 below provided in Subparagraph 4.4,And 0!•, fU0! the that the Owner is considering declaring a Contractor payment tendered ��xz he Surety, lit4ylilh#y, in Default and has requested and aAmpted to aeFange a whol@ tir iHl r, !Ff t further n+ fie : , x i et§liall be ; conference with the Contractor A�,d the Surely to be entitled to ertf r ar�remed .At+]i�Aleit R ,t fl�r• held not later than fifteen days after receipt of such y notice to discuss methods of performing the Construe- 6 After the Owner has ter fitinatfr! i tdt`lr-wight . tion Contract–If,the;Owner,.the.Contractor and the to•complete the Cop t��}uu,ogn s � ety Surety agree,the Contractor shall be allowed a reason- elects to act under �ubp ra . me,- able timg to j5eff6fM 016 MistfUction Contract, but them the resporlsibilftte tYf t aN such an agreement shall not waive the,Owner's right, if not be greater than those of tHf, _ •_ i 1061Kd f the . any,'015010ntly It1`del:it M4rCdti4Aetor Default; and Construction Cd6tr9tW1 tdj Owner to the Surety shall not b@ E � B 3.1 fihe Cjvt!nef"ildicptg i lontractor Default and Owner under the C`b sffiil l � . formally terminated the Contrattor's right to complete amount of this Bond;but sublett;