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Illinois Department
<br /> ' of Transportation Contract Bond
<br /> ' Route MAIN & FRANKLIN ST.
<br /> County MACON
<br /> Local Agency CITY OF DECATUR
<br /> Section 10-00013-00-FP
<br /> Bond # 105823029
<br /> ' We , Illinois Valley Paving , a Division of United Contractors Midwest, Inc.
<br /> 3151 Robbins Rd., Springfield, Illinois 62704
<br /> a/an) ❑ Individual ❑ Co-partnership ® Corporation organized under the laws of the State of Illinois
<br /> ' as PRINCIPAL, and Travelers Casualty and Surety Company of America, Construction Services,
<br /> Travelers Bond & Financial Products, One Tower Square, Hartford, CT 06183 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, Three Hundred Twelve Thousand. Forty-Eight and--------------------------------80/100
<br /> ' Dollars ( $1,312,048.80 ), 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 shall 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 /> ' 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.
<br /> ' Page 1 of 2 IL 494-0372 BLR 12321 (Rev. 7/05)
<br /> Printed on 8/15/2012 2:37:29 PM
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