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���������� ���� <br /> Now, 7►tfREFORf, 7FI[ CpN�?ITION OF THiS qBt1GATION�S Suth tha;, U Contracsor shall promptty and faithfuliy perform <br /> said Contract, �hen this ob�i�ation sliali be nuit and void; otherwise�t shall remain in fuii torce and ef{ect. <br /> The Surety hereby waives notice of any alteratien or delaults under ihe contrar( ar conttatls ul compte�ion <br /> extensip» of timp mdde by tf�e 4wner. artanged undar this paragtaph)sufficien!funds to pay th� <br /> Whenever Contrattor shali be, and declared by Owner �ost of completion less the balance ot the contra�t price; <br /> to be in detault under the Contract, the Ownsr having but not exceedin�, inctuding olher costs and damages <br /> performed Owne►'s obtigations thereunder, the Surely !or whicF►the Surety may E�e liable hereunder,the amoun� <br /> may promptly remedy the detau#t, or shalt promptly �� farth in the firsl �aragraph hercol, The term "bala�ce <br /> ot th� contraCt price," as used in this paragraph, shalt <br /> t) Cnmptete the Contracl in accordanc� with its terms mean the tqtal amouni pdyable by Owner to Contractor <br /> mhd conditions,or unde► th� Contratt and any amencfinents =hereto, less <br /> 21 Obtain a bid or bids for completing the Contnct in �hc amount praprrly paid by pwner to Conlractpr. <br /> accordancr r�ith E�s terms and conditions, and upon de- Any suit under this bond musi be institul�d hefore <br /> lermination by Surety of the (owest responsible bidder, ��� �RPiration of tvyo (1} years t�om the date on which <br /> ar,� i! the Owner eteets, upon del�rtt�ination t�y �h� fnal payrnent undsr the Contract f�lts due. <br /> 8wner and ihe Surety jointly af the lowest r�spansibfe No,rig�t oE action shall accrue on lhis b�nd to ot for <br /> bidder, arrange toe a contratt between such 6idder and the use of any persan or carpor�tion other than the <br /> Ovvner. snd rnake available as W4rk pra$resses (even Owner natned hetein or Ihe heirs, execulats, adminis- <br /> thouQh there should be a 8eliult or � sutcession of irators ar successors of the Owner. <br /> Sign�d and sealed this 2nd day of April 2012 <br /> D,W.YOUNG CONS7RUCTION CO.,iNC. <br /> �!'nr�r�l>,�f� iseaEs <br /> r ' <br /> "_' S <br /> �trUc) "'� <br /> GREA7AMERICAN INSURANCE GOMPANY <br /> fSt►rt�l�•J � �Srau <br /> �rika Gonzales tw��n��a.) � <br /> � � n� <br /> Jea ette Conley �r;rl,�) Aitorney-fn-Faci <br /> R�A DaL7)A01FP1Y Aat1 � PEN►()RMANCE 80PlD AND �A6t)R ANq MATbR1A! PAYMENI' BOhlO • AIA l9 <br /> rtaautiav��ra eu.•CNE AMfRI(:AN INSTIlUTE()F ARCHiiECTS,4735 IJ.Y.AVE.,N.W„WI►SHINCTpN,0.C.20�b Z <br />