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able to sureties as a defense in the jurisdiction of the suit shall be applicable. 10 Notice to the Surety, the Owner or the Contractor shall be mailed or delivered to the address shown on the signa- ture page. 11 When this Bond has been furnished to comply with a statutory or other legal requirement in the location where the construction was to be performed, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conform- ing to such statutory or other legal requirement shall be deemed incorporated herein. The intent is that this Bond shall be construed as a statutory bond and not as a com- mon law bond. 12 DEFINITIONS 12.1 Balance of the Contract Price: The total amount payable by the Owner to the Contractor under the Con- struction Contract after all proper adjustments have been made, including allowance to the Contractor of MODIFICATIONS TO THIS BOND ARE AS FOLLOWS: any amounts received or to be received by the Owner in settlement of insurance or other claims for damages to which the Contractor is entitled, reduced by all valid and proper payments made to or on behalf of the Contractor under the Construction Contract. 12.2Construction Contract: The agreement between the Owner and the Contractor identified on the signature page, including all Contract Documents and changes thereto. 12.3Contractor Default: Failure of the Contractor, which has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Construction Contract. 12.40wner Default: Failure of the Owner, which has neither been remedied nor waived, to pay the Contrac- tor as required by the Construction Contract or to per- form and complete or comply with the other terms thereof. (Space is provided below for additional signatures of added parties, other than those appearing on the cover page.) CONTRACTOR AS PRINCIPAL Company: (Corporate Seal) Signature: Name and Title: Address: SURETY Company: (Corporate Seal) Signature: Name and Title: Address: Printed in cooperation with The American Institue of Architects (AlA) by Willis. Willis vouches that the language in the document conforms exactly to the language used in AlA A312, December 1984 Edition, Third Printing March 1987. Performance and Payment Bond WC1853A 3