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East Fiber Extension <br /> Elk River, Minnesota <br /> <br />SECTION 00610 <br />Performance Bond <br />Bond No. ___________________ <br /> <br /> <br />KNOW ALL PERSONS BY THESE PRESENTS; That <br /> <br />____________________________________ <br />a (corporation, a partnership, or an individual), hereafter called Contractor, and <br />(Name of Surety) <br />(Address of Surety) <br />hereinafter called Surety, are held and firmly bound unto <br />City of Elk River <br />13065 Orono Parkway, Elk River, MN 55330 <br />hereinafter called Owner, in the aggregate penal sum of <br />_______________________________________in lawful money of the United States, for the <br />payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, <br />administrators, successors, and assigns, jointly and severally, firmly by these presents. <br />THE CONDITION OF THIS OBLIGATION is based upon a certain contract by and between <br />Contractor and Owner dated the ______day of _______, 2023, a copy of which is hereto attached <br />and made a part hereof, for the construction of East Fiber Extension, generally described as <br />follows: <br /> <br />Construct various sections of bituminous and concrete trails in accordance with the plans <br />and specifications. <br /> <br />NOW THEREFORE, if Contractor well, truly and faithfully performs its duties, all the <br />undertakings, covenants, terms, conditions, and agreements of said contract during the original <br />terms thereof, and any extensions thereof which may be granted by Owner, with or without notice <br />to Surety, and during the Two (2) year(s) guarantee and maintenance period, and if it satisfies all <br />claims and demands incurred under such contract, and fully indemnifies and saves harmless the <br />Owner from all costs and damages which Owner may suffer by reason of its failure to do so, and it <br />Performance Bond 00610 - 2 <br /> <br />