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<br />FXS : d .; ], 11/ 20/96 <br /> <br />(009/72) <br /> <br />shall <br /> <br />only <br /> <br />be <br /> <br />required <br /> <br />for <br /> <br />changes <br /> <br />in <br /> <br />the <br /> <br />overall <br /> <br />responsibilities of, or services to be rendered by, CM/GC. <br /> <br />5. <br /> <br />PERFORMANCE BOND. <br /> <br />CM/GC <br /> <br />shall provide, <br /> <br />pr ior to the <br /> <br />commencement <br /> <br />of <br /> <br />the <br /> <br />construction <br /> <br />phase <br /> <br />of <br /> <br />the <br /> <br />Project, <br /> <br />as <br /> <br />described in Exhibit "A", hereto, a good and sufficient corporate <br /> <br />surety bond in the penal sum of one hundred percent (100%) of the <br /> <br />amount of the Construction Costs which amount shall be determined <br /> <br />upon <br /> <br />receipt <br /> <br />of <br /> <br />all <br /> <br />bids <br /> <br />from <br /> <br />Subcontractors <br /> <br />prior <br /> <br />to <br /> <br />the <br /> <br />commencement of the construction phase of the Project, and which <br /> <br />bond shall be conditioned upon the faithful performance of all <br /> <br />work required to be performed by CM/GC under this Agreement. <br /> <br />The <br /> <br />work required to be performed by CM/GC includes the work to be <br /> <br />performed by Subcontractors. <br /> <br />Said bond shall be liable for any <br /> <br />and all penalties and obligations which may be incurred by CM/GC <br /> <br />under this Agreement. Acceptance of the bond by the City is <br />subject to the review and approval of the bond by the City <br />Attorneyls office. CM/GC may, in good faith, require <br /> <br />Subcontractor, to obtain a one hundred percent <br /> <br />(100%) <br /> <br />corporate <br /> <br />surety <br /> <br />performance <br /> <br />bond. <br /> <br />The <br /> <br />subcontractorls <br /> <br />cost <br /> <br />of <br /> <br />the <br /> <br />performance bond shall be borne by the City, provided that City <br /> <br />reserves <br /> <br />the <br /> <br />right <br /> <br />to require <br /> <br />any <br /> <br />subcontractor <br /> <br />to procure <br /> <br />a <br /> <br />corporate surety bond and bear the cost thereof. <br /> <br />6. <br /> <br />PAYMENT BOND. <br /> <br />In addition to the bond required under <br /> <br />Paragraph 5 hereof, <br /> <br />CM/GC <br /> <br />shall <br /> <br />furnish a good and sufficient <br /> <br />corporate surety bond in the penal sum of one hundred percent <br /> <br />(100%) <br /> <br />0 f the <br /> <br />amount of the Construction Costs, <br /> <br />which <br /> <br />amount <br /> <br />shall be determined upon receipt of all bids from Subcontractors <br /> <br />7 <br />