R2012-157 AUTHORIZING SPENDING AUTHORITY OF CITY MANAGER FOR CONTRACTS WITH GREAT LAKES DREDGE & DOCK COMPANY

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Issued in Triplicate Bond 09080042 EXHIBIT B:CONTRACT BOND KNOW ALL PERSONS BY THESE PRESENTS: That Great Lakes Dredge and Dock Company, LLC, a Delaware Corporation licensed to do business in Illinois, hereinafter called Contractor, and Fidelity and Deposit Company of Maryland as Surety, hereinafter called Surety, are held and firmly bound unto the CITY OF DECATUR, an Illinois municipal corporation as Obligee, hereinafter called Cityin the amount of One Million, Three Hundred and Ninety Nine Thousand, Nine Hundred and Thirty Four and 00/100 Dollars, ($1,399,934.00) for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns,jointly and severally, firmly by these presents. WHEREAS, Contractor has by written agreement dated August 27 , 2012, entered into a contract with City for "SANGAMON RIVER CORRIDOR PIPELINE PROJECT", CITY PROJECT 2012-30, in accordance with Drawings and Specifications prepared by the City which contract is by reference made a part hereof, and is hereinafter referred to as the Contract. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform said Contract and is in full compliance with the Illinois Prevailing Wage Act then this obligation shall be null and void; otherwise it shall remain in full force and effect. The Surety hereby waives notice of any alteration of the contract or extension of time made by City. Whenever Contractor shall be, and declared by City to be in default under the Contract, including full compliance with the Illinois Prevailing Wage Act, the City having performed Owner's obligations thereunder, the Surety may promptly remedy the default, or shall promptly: 1. Complete the Contract in accordance with its terms and conditions; or 2. Obtain a bid or bids for completing the Contract in accordance with its terms and conditions, and upon determination by Surety of the lowest responsible bidder, or if the City elects, upon determination by the City and the Surety jointly of the lowest responsible bidder, arrange for a contract between such bidder and City, and make available as Work progresses (even though there should be a default or a succession of defaults under the contract or contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the contract price but not exceeding, including other costs and damages for which the Surety may be liable hereunder, the amount set forth in the first paragraph hereof. The term "balance of the contract price" as used in this paragraph, shall mean the total amount payable by City to Contractor under the Contract and any Contract Change Orders thereto, less the amount properly paid by City to Contractor. Any suit under this bond must be instituted before the expiration of two (2) years from the date on which final payment under the Contract falls due. No right of action shall accrue on this bond to or for the use of any person or corporation other than the City named herein Signed and sealed this 4th day of September , 2012. 14