R98-120 AUTHORIZING AGREEMENT - Laserfiche WebLink

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EXHIHIT 5 business of the corporation, and in all cases of partnership the names and residences of each of the partners, and the name of the contractor : for the Obligee, the name of the person, firm, or corporation by whom the claimant was employed or to who such claimant furnished materials, the amount of the clai� and a brief description of the public improvement for the construction or installation of which the Contract is to be performed. No defect in the notice herein provided for shall deprive the ciaiunant of his right of action under the terms and provisions of this Bond unless it shall affirmatively appear that such defect has prejudiced the rights of an interested party asserting the same. 3 . No action shall be brought on this Bond until the expiration of 120 days after the date of the last item of work or of�..the furnishing of the last item of material except in cases where the final settlement between the Obligee and the Contractor '� shail have been made prior to the expiration of the 120 day period, in which case action may be taken immediately following such final settlement; nor shall any action of any kind be brought later than six (6) months after the acceptance by the Obligee of the wvrk. Such suit shall be brought only in the Circuit Court of this State in the judicial district in which the Contract is to be performed. � 4. Surety hereby waives notice of any Modifications of the Contract, including extensions of time for the performance thereof. 5 . The amount of this Bond shall be reduced by and to the extent of any payment or payments made in good faith hereunder. LA80R AND MATERIAL EBHIBIT 5 PAY1�1T BOND - 3