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' ® e <br /> City of Decatur, Illinois Contract Bond <br /> • Bond #54235097 <br /> Project 2020 Manhole Rehabilitation Project <br /> ' Project Number 2020-14 <br /> We_ Culy Contracting, LLC <br /> ' 5 Industrial Park Drive, Winchester, IN 47394 <br /> a/an) ❑ Individual ❑ Co-partnership X Corporation organized under the laws of the <br /> ' as PRINCIPAL_and United Fire & Casualty Company, Inc. ' <br /> 118 Second Ave SE, Cedar Rapids, IA 52401 as Si7RETY_ <br /> ' are held and firmly bound unto the City of Decatur(hereafter referred to as"CITY")in the penal sum of <br /> One Hundred Forty-One Thousand Seven Hundred Fifty and 00/100---------------------------------------------------------- <br /> ------------- <br /> ------------------------------------------------ Dollars( $141,750.00 ), lawful money of the <br /> United States,well and truly to be paid unto said CITY,for the payment of which we bind ourselves,our heirs, <br /> executors,administrators,successors,jointly to pay to the CITY this sum under the conditions of this instrument. <br /> WHEREAS THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that,the said Principal has <br /> entered into a written contract with the CITY for the construction of work on the above City Project,which contract <br /> ' 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 <br /> sums of money due for any labor,materials,apparatus,fixtures or machinery furnished to such Principal for the <br /> ' purpose of performing such work and has further agreed to pay all direct and indirect damages to any person,firm, <br /> company or corporation suffered or sustained on account of the performance of such work during the time thereof <br /> and until such work is completed and accepted;and has further agreed that this bond shall inure to the benefit of any <br /> ' person,firm,company or corporation to whom any money may be due from the Principal,subcontractor or <br /> otherwise for any such labor,materials,apparatus,fixtures or machinery so furnished and that suit may be <br /> maintained on such bond by any such person,firm,company or corporation for 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 <br /> said contract,and shall pay all sums of money due or to become due for any labor,materials,apparatus,fixtures or <br /> machinery furnished to him for the purpose of constructing such work,and shall commence and complete the work <br /> ' within the time prescribed in said contract, and shall pay and discharge all damages,direct and indirect,that may be <br /> suffered or sustained on account of such work during the time of the performance thereof and until the said work <br /> shall have been accepted, and shall hold the CITY harmless on account of any such damages and shall in all <br /> ' respects fully and faithfully comply with all the provisions, conditions and requirements of said contract,then this <br /> obligation to be void;otherwise to remain in full force and effect. <br /> ' 29 <br />