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Rolling Hills Pond Dredging <br />Ell< River, Minnesota <br />reimburses and repays Owner all outlay and expense which Owner may incur in making good any <br />default, then this obligation shall be void; otherwise to remain in full force and effect. <br />PROVIDED, FURTHER, that the said Surety, for value received hereby, stipulates and agrees that <br />no change, extension of time, alteration or addition to the terms of the contract or to Work to be <br />performed thereunder or the Contract Documents accompanying the same shall in any way affect its <br />obligation on this BOND, and it does hereby waive notice of any such change, extension of time, <br />alteration or addition to the terms of the contract or to the Work or to the Contract Documents. <br />PROVIDED, FURTHER, that it is expressly agreed that the Bond shall be deemed amended <br />automatically and immediately, without formal and separate amendments hereto, upon amendment <br />to the Contract not increasing the contract price more than 20 percent, so as to bind the Contractor <br />and Surety to the full and faithful performance of the Contract as so amended. The term <br />"Amendment," wherever used in this Bond, and whether referring to this Bond, the Contract, or the <br />Loan Documents shall include any alteration, addition, extension, or modification of any character <br />whatsoever. <br />PROVIDED, FURTHER, that no final settlement between Owner and Contractor shall abridge the <br />right of any beneficiary hereunder, whose claim may be unsatisfied. <br />Performance Bond 00610 - 3 <br />