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<br /> City of Decatur, Illinois Contract Bond
<br /> ' BOND #30169389
<br /> Project 2021 Lake Grove Club Retaining Wall
<br /> ' Project Number
<br /> � 2021-20
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<br /> ' We, Kinney Contractors, Inc.
<br /> 19342 E Frontage Road Raymond IL 62560
<br /> ' a/an) ❑ Individual ❑ Co-partnership ❑X Corporation organized under the laws of the Illinois ,
<br /> as PRINCIPAL, and Western Surety Company
<br /> ' 151 North Franklin Street, Chicago, Illinois 60606 as SURETY,
<br /> ' are held and firmly bound unto the City of Decatur(hereafter referred to as "CITY") in the penal sum of
<br /> Three hundred fifty-one thousand, nine hundred fifty dollars 00/100----------------------------------------------------
<br /> ' ------------------------------------------------------------ Dollars ( 351,950.00 ), 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
<br /> all 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
<br /> any 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 /> tNOW 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.
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