Agenda - 12-05-1983 - Laserfiche WebLink

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I uucn z rFUt LV I . ,_,., • mmifration by the Surety for any hiss under Tnsunng"' -- --the'pphcabte Insuring b A�rcement covering such c,r,o:nt 2 or 4 shall not reduce the Surety's liability for Employee; J∎,tr lasses under the applicable Insuring agreement,when.. (b) Upon the death,resignation or removal of such Ent- 8i .e[ct's...tained;provided,however,the Surety's total liability ployee;or tinder each such Insuring Ao eement as to each Employee is limited to the applicable amount of indemnity specified in the fc) At 13 o'clock night upon the effective date specifier) in a written maed !able of Limits of Liability, sued, Such tdate shallh betnottless tthan thirtyydays Rc ardlese of the number of years this Bond shall continue after the dale of mailing.The mailing by the Surety in force and the number of plemiums which shall be payable of notice as aforesaid to the Obligee and the Insured rrc p rid,thr limit of the Surety's liability as specified in the shall be sufficient proof of notice. Delivery of such Table of Limits of I.iability'shall not be cumulative from written notice by the Surety shall be equivalent to yrar to year or period to period. mailing. • jThis Bond may be canceled by the Obligee or the Insured LIMIT OF LUI.BILITY UNDER THIS BOND by mailing to the Surety written notice stating[Then there. AND ANY I'RIOR BOND after the cancelation shall he effective,This Bond ma be Section 5.. With respect to loss under Insuring Accea• canceled by the Surety by mailing to the Obligee•indythe )pent 1 or 3 caused by any Em !n ee or under which such 6m- Insured written notice stating when, not less than thirty ployee is concerned or implicated or which is chargeable to days thereafter, such aforesaid shall be effective The such Employee as provided in Section 2 of this Bond and with mailing of notice as aforesaid shag be sufficient b the proof ee of respect to loss tinder Insuring Agreemerit 2 or 4 caused by notice.Delivery of such written notice either by the Obligee any h respect to to a or which is clr rg_able to such Employee as or the Insured or by the Surety shall be equivalent to mail- prmided in Section 2 of this pond and with respect to loss too• If the Obligee in ice accordance with earned premium under any insuring Agreement which occurs part) during shall be computed in accordance with the customary short pre- the liond Period and partly during the period of other bonds rate use table hall be procedure. amp[�te$pro rata Premium um adjustments mat issued by the Surety to the Insured or to any predecessor in may interest of the Insured and terminated or canceled or allowed be made at the time cancelateco is effective or as soon as to t x tire and in w hich the period specified therein for bring. or tender lof unearned epretmium is not effective,ondition of caneelat hie suit, action or proceeding of any kind, or if no such tine.. grind is;peci;ied therein,then within the period prescribed �v the applicable statute of limitations, has not expired at If any of the cancelation prosisions set forth in either or the time such loss thereunder is discovered, the total both of the foregoing paragraphs of this Section are pro, liability of the Surety under this Bond and under such other hibited or made void by any law controlling the construction Lands shall not exceed, in the segregate, the amount of this Bond,such provisions to the extent they are so pro- F can iud under the applicable Insuring Agreement of this hibited or made void shall he deemed to be nullified and of no Neil on'such loss or the amount available to the Insured effect. t' under such other bonds,as limited by the terms and condi. LEGAL PROCEEDINGS tints thereof.for any such loss if the fatter amount be larger. Section 7, No suit, action or proceeding of any kind to recover on account of loss under this Bond shall be brought C.ANCELATION after the expiration of three years from the cancelation of this Bond as an entirety provided, however, that if such I[Secti n 6. This Bond shal11be deemed canceled as to any limitation for bringing suit, action or proceeding is pro- hihited or made void by any law controlling the construction (a) immediately upon discovery by the Obligee or the of this Bond,such limitation shall be deemed to be amended insured of any act on the port of such Employee so as to be equal to the minimum period of the limitation which would constitute a liability of the Surety under permitted by such law. In witness whereof,!the Surety has cattsed this Bond to be executed on the Declarations page, t _ -