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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 15 DAY OF NOVEMBER2010
<br /> R NCT
<br /> OWENS ROOFING , INC
<br /> rincipal ) (Seal )
<br /> Witness CORPORATE
<br /> AFAL
<br /> (Witness )
<br /> (Title)
<br /> Western Surety Compa �/G►
<br /> (S ety ~``' 80 ,
<br /> (Witness) b I
<br /> ( itle)
<br /> Amy R . Waugh 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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