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IRKAS ��rtfYl
<br />' Of Transportation Contract Bond
<br /> Route Various
<br /> EXECUTED IN SEXTUPLICATE ORIGINALS
<br />' County Macon
<br /> Local Agency City of Decatur
<br /> Section 18-00824-00-SC
<br />' Bond No. 0741336
<br /> We, A.C. Pavement Striping Co.
<br />' 695 Church Road, Elgin, IL 60123
<br /> a/an) ❑ Individual ❑ Co-partnership ® Corporation organized under the laws of the State of IL ,
<br /> as PRINCIPAL,and International Fidelity Insurance Company
<br />' One Newark Center, Newark, NJ 07102-5207 as SURETY,
<br /> are held and firmly bound unto the above Local Agency(hereafter referred to as'LA*)in the penal sum of
<br /> One Million One Hundred Thirty Four Thousand One Hundred Forty Four Dollars and 47/100
<br />' Dollars ( $1,134,144.47 ),lawful money of the
<br /> United States,well and truly to be paid unto said LA,for the payment of which we bind ourselves,our heirs,executors,
<br />' administrators,successors,jointly to pay to the LA this sum under the conditions of this instrument.
<br /> WHEREAS THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that,the said Principal has entered into a
<br /> written contract with the LA acting through its awarding authority for the construction of work on the above section,which
<br />' contract is hereby referred to and made a part hereof,as if written herein at length,and whereby the said Principal has
<br /> promised and agreed to perform said work in accordance with the terms of said contract,and has promised to pay all sums of
<br /> money due for any labor,materials,apparatus,fixtures or machinery furnished to such Principal for the purpose of performing
<br /> such work and has further agreed to pay all direct and indirect damages to any person,firm,company or corporation suffered
<br />' or sustained on account of the performance of such work during the time thereof and until such work is completed and
<br /> accepted;and has further agreed that this bond shall inure to the benefit of any person,firm,company or corporation to whom
<br /> any money may be due from the Principal,subcontractor or otherwise for any such labor,materials,apparatus,fixtures or
<br /> machinery so furnished and that suit may be maintained on such bond by any such person,firm,company or corporation for
<br />' the recovery of any such money.
<br /> NOW THEREFORE,if the said Principal shall well and truly perform said work in accordance with the terms of said contract,
<br /> and shall pay all sums of money due or to become due for any labor,materials,apparatus,fixtures or machinery furnished to
<br />' him for the purpose of constructing such work,and shalt commence and complete the work within the time prescribed in said
<br /> contract,and shall pay and discharge all damages,direct and indirect,that may be suffered or sustained on account of such
<br /> work during the time of the performance thereof and until the said work shall have been accepted,and shall hold the LA and
<br /> t its awarding authority harmless on account of any such damages and shall in all respects fully and faithfully comply with all
<br /> the provisions,conditions and requirements of said contract,then this obligation to be void;otherwise to remain in full force
<br /> and effect.
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<br />' Page 1 of 2 IL 494-0372 BLR 12321(Rev.7/05)
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