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LABOR AND MATERIAL PAYMENT BOND <br />BOND NUMBER: <br />KNOW ALL MEN BY THESE PRESENCES: that <br />( <br />Firm) <br />(Address) <br />(an Individual), (a Partnership), (a Corporation), hereinafter referred to as "the Principal", and <br />(Firm) <br />(Address) <br />hereinafter referred to as "the Surety", are held and firmly bound unto the <br />CITY OF LOUISVILLE, 749 MAIN STREET, LOUISVILLE, COLORADO a <br />hereinafter referred to as "the Owner", in the penal sum of <br />Municipal Corporation, <br />Dollars <br />($ ) in lawful money of the United States, for the payment of which sum <br />well and truly to be made, we bind ourselves, successors and assigns, jointly and severally, firmly by <br />these presents. <br />THE CONDITIONS OF THIS OBLIGATION are such that whereas the Principal entered into a <br />certain Agreement with the Owner, dated the day of , 2017, a <br />copy of which is hereto attached and made a part hereof for the performance of <br />NOW, THEREFORE, if the Principal shall make payment to all persons, firms, subcontractors and <br />corporations furnishing materials for or performing labor in the prosecution of the Work provided for <br />in such Agreement, and any authorized extension or modification thereof, including all amounts due <br />for materials, lubricants, repairs on machinery, equipment and tools, consumed, rented or used in <br />connection with the construction of such work, and all insurance premiums on said Work, and for all <br />labor, performed in such Work whether by Subcontractor or otherwise, then this obligation shall be <br />void; otherwise to remain in full force and effect. <br />PROVIDED, FURTHER, that the said Surety, for value received, hereby stipulates and agrees that <br />no change, extension of time, alteration or addition to the terms of the Agreement or to the Work to <br />be performed thereunder or the specifications accompanying the same shall in any way affect its <br />obligation on this Bond; and it does hereby waive notice of any such change, extension of time, <br />alteration or addition to the terms of the Agreement or to the Work or to the Specifications. <br />PROVIDED, FURTHER, that no final settlement between the Owner and the Contractor shall <br />abridge the right of any beneficiary hereunder, whose claim may be unsatisfied. <br />In addition to the other conditions hereof, this bond shall include all provisions set forth in Section <br />38-26-105, C.R.S. <br />CITY OF LOUISVILLE <br />HVAC IMPROVEMENTS FOR HBWTP <br />21 <br />005200-9 <br />AGREEMENT <br />