8.1. SR 06-03-2019 - Laserfiche WebLink

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PERFORMANCE BOND THE STATE OF § § KNOW ALL MEN BY THESE PRESENTS: THE COUNTY OF § THAT WE, as Principal, hereinafter called "Contractor", and the other subscriber hereto as Surety, do hereby acknowledge ourselves to be held and firmly bound to [Waste Management entity] (the "Owner"), in the sum of Dollars ($ ) for the payment of which sum, well and truly to be made to Owner and its successors, the said Contractor and Surety do bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally. THE CONDITIONS OF THIS OBLIGATION ARE SUCH THAT: WHEREAS, the Contractor has on or about this day executed an Agreement in writing with Owner for all of such work to be done as set out in full in said Contract Documents therein referred to and adopted by Owner, all of which are made a part of this instrument as fully and completely as if set out in full herein. NOW THEREFORE, if the said Contractor shall faithfully and strictly perform the Agreement in all its terms, provisions, and stipulations in accordance with its true meaning and effect, and in accordance with the Contract Documents referred to therein and shall comply strictly with each and every provision of the Contract Documents and with this bond, then this obligation shall become null and void and shall have no further force and effect; otherwise the same is to remain in full force and effect. It is further understood and agreed that the Surety does hereby relieve Owner or its representatives from the exercise of any diligence whatever in securing compliance on the part of the Contractor with the terms of the Contract Documents, and the Surety hereby waives any notice to it of any default, or delay by the Contractor in the performance of his Agreement and agrees that it, the Surety, shall be bound to take notice of and shall be held to have knowledge of all acts or omissions of the Contractor in all matters pertaining to the contract. The Surety understands and agrees that the provision in the Agreement that Owner shall retain certain amounts due the Contractor until the expiration of thirty days from the acceptance of the Work is intended for Owner's benefit,and Owner shall have the right to pay or withhold such retained amounts or any other amount owing under the Agreement without changing or affecting the liability of the Surety hereon in any degree. It is further expressly agreed by Surety that Owner or its representatives are at liberty at any time, without notice to the Surety,to make any change in the Contract Documents and in the Work to be done thereunder, as provided in the Agreement, and in the terms and conditions thereof, or to make any change in, addition to, or deduction from the work to be done thereunder; and that such changes, if made, shall not in any way vitiate the obligation in this bond and undertaking or release the Surety therefrom. It is further expressly agreed and understood that the Contractor and Surety will fully indemnify and save harmless Owner from any liability, loss, cost, expense, or damage arising out of or in connection with the work done by the Contractor under the Agreement. In the event that Owner shall bring any suit or other proceeding at law on the Agreement or this bond or both, the Contractor and Surety agree to pay to Owner the sum of 10 percent of whatever amount may be recovered by Owner in suit or legal proceeding, which sum of 10 percent is agreed by all parties to be indemnity to Owner for the expense of or time consumed by its Attorney, his assistants, and office force, and other cost and damage occasioned to Owner. This amount of 10 percent is fixed and liquidated by the parties, it being agreed by them that the exact damage to Owner would be difficult to ascertain. WN�EME�� Page 1 Updated 05/12