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r � <br /> r <br /> rCity of Decatur, Illinois Contract Bond <br /> 1 <br /> Project 2021 Manhole Rehabilitation Project <br /> rProject Number 2021-14 <br /> r Cul Contracting, LLC PO Box 29 Win <br /> We. Y 9, Chester, IN 47394 <br /> r <br /> a/an) ❑ Individual ❑ Co-partnership N Corporation organized under the laws of the Indiana <br /> ' as PRINCIPAL. and United Fire & Casualty Company, Inc. PO Box 73909 Cedar Rapids, IA 52407 <br /> as SURETY. <br /> rare held and firmly bound unto the City of Decatur(hereafter referred to as "CITY") in the penal sum of <br /> 10% of bid amount <br /> Dollars ( 10% of bid amount ), 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 /> rNOW 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 /> 1 <br /> 29 <br /> r <br />