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' . CONTRACT BONQ � <br /> Bond#: K06333370 <br /> :;; <br /> ' W ALL PERSONS BY THESE PRESENTS: 'I'hat Tcle Scan, Inc., as Principal, <br /> KNO <br /> hcrcinafter cal�ed Co�atractor, and • com as Surety,hercinaftet <br /> ' called Surety, a�re hcld and fimily bound unto the CX1'Y OF AECATUR aa Obligcc,heteinafttr <br /> called Owner, in the amount of Not tv Exceed Fi►�ty Thou�and �nd No Cents (S 50,000.00), <br /> for thc paymcnt wheroof �Contnctor atnd Suroty bind themsclve�, theu hcirs, executors, <br /> ' administrato�rs, successors �and assigns,jointly and seycz�tlly,firn�ly by these�rescnts• <br /> WHEREA,S, Contractor has by wr�itten agnexnent dated JunC 19, 2000, entexod imo a <br /> , contract with Owner fox ANNU,A,L SEVVER TELEVISING PRUJE Ow er whi ho�ntract ' <br /> 2000-1.9,�in accordanco with Dr�wings atxd 5peciflcations pz�epared bY th � <br /> is by reference made a part hereof,and is herciz�after refexxed to as the(�ontract. , <br /> ' CONDITION� OF TH1S OBLIGA'1�ON is such that, if ' <br /> NOW, TI�REFORE, THE , <br /> Contractor shall promptly and faithfully perform said Cont�act ihen this obligation shall be null <br /> ' and void; otherwise it shall rer�ain in fiill force aztd effect I <br /> The Surety hereby waives notice of any alteration of the cont�ract or extension of time <br /> ' madt by Owner. ' <br /> Whenever Contr�ctor shali be, and d�clared by Uwutr to be in default ut�der the <br /> , r <br /> Contract, the Owner haviz�g performed �wner's oblig�tions th�rcunder, the Surety may <br /> promptly remedy tk�e d�fault, or shall promptly: � <br /> ' 1. Cvmplete the Cont�et in�ccordance with its terms and conditions; or <br /> Z. Obtain � bid or bids fox eompleting the Contract in �ccordanc� with its terms and <br /> � condit�ons, atad upon determination by Surety of thc lowest responsible bidder, or if <br /> the Uwner elects. upon dttexmination by the Owner and the Su�'ety joiz�tly of the <br /> � lowest respoz�sible biddcr, arrange for a contract between such bidder and Own�x, <br /> 1 and trtake a�ailable as Work progresses (even though thazc should be a dcfault or a <br /> succcssion of de�aults wnder the contract or contra�ts of comp�etion axranged under <br /> this paragraph) sufficicnt funds to pay the eost of com�letion less tha balance o�the <br /> ' contract price but not excecding, including otl�er costs and damages for which ttue . <br /> Suz�ty may be liable hcrtunder, the amvunt sct £ot�th in th� first Paragi�Ph 1��Of <br /> The term "b�lance of the contract p�icc" as used in this p�ragraph, shall mean the <br /> ' ' tote� amount paye.ble by Owner to Cont�actor under the Contract and any Contract <br /> Change Orders t�ereto, less the amount proper�y paid by O�veer to Contractor. <br /> ' A�ny suit under this bond must be instituted before the expixation of two (2) years from ' <br /> the date an whieh f nal payment under the Contract falls due. <br /> ' � No ri t of action shall acczve on this bond to or fvr the use of any person or <br /> cotporation otha than t$e Own�r named hercin or the heus, executors. adminastrators or <br /> ' successors of the Owner. � . <br /> '� � . . <br /> ' 8Z£�£ZbZ S Z : 'ON �hIOHd, ' � . ' � . . . S�'J I f12l�S �FJ�2MlSh!I �J I SNFiQ : WOZI� <br /> 6 d I�iLZ:0t 000Z'bi 'hNllt <br />