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That
<br />STATE t SURETY COMY ANY
<br />DES MOINES. IOWA
<br />Bond No. 219550
<br />PERFORMANCE BOND
<br />Approved by The American Institute of Architects,
<br />A. I. A. Document No. A -311 February 1970 Edition
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />Gopher Properties
<br />(Here Iran fall seems and address or legal ride of Convector)
<br />222 E Little Canada Road, St. Paul, Minnesota 55117
<br />as Principal, hereinafter called Contractor, and S T A T E S U R ET Y 00 M P A NY , a corporation
<br />organized under the laws of the State of Iowa, as Surety, hereinafter called Surety, are held and firmly bound
<br />City of Little Canada
<br />unto
<br />Little Canada, Minnesota
<br />(Here insert full name and address or legal tide of Owner)
<br />as Obligee, hereinafter called Owner, In the amount of --Twenty Four Thousand & .,no/100 - - -.
<br />Dollars ($_29,000,,00),
<br />for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, suc-
<br />cessors and assigns, jointly and severally, firmly by these presents.
<br />WHEREAS, Contractor has by written a eement dated . _ _. -_ --
<br />_ _ 1
<br />pl
<br />an soaping _ at 35,E Little Canada Road
<br />entered into a contract with Owner for _.__ —. -- ---------- - - - - -- - --
<br />In accordance with drawings and specifications prepared by -- .-- -. - - --
<br />(Here insert full name and oddma or legal tide of Architect)
<br />which contract is by reference made a part hereof, and is hereinafter referred to as the Contract.
<br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is
<br />each that, if Convenor shall promptly and faithfully perform said
<br />Contract, then this obligation shall be null and void; otherwise it shall
<br />remain in full force and effect.
<br />The Surety hereby waive. notice of any alteration or extension of
<br />time mode by the Owner.
<br />Whenever Contractor shall be, and declared by Owner to be in de.
<br />fault unite the Contract, the Owner having performed Owners obligations
<br />thereunder, the Surety may promptly remedy the default, or shall prompr.y
<br />1) Complete the Contract in accordance with its terms and condo
<br />dons, or
<br />2)Obain a bid or bids for completing the Contract in accordance
<br />with its terms and condition, and upon determination by Surety of the
<br />lowest responsible bidder, or, if the Owner elects, upon determination by
<br />the Owner and the Surety jamdy of the lowest responsible bidder, at
<br />range for on r ct between such bidder and Owner, and ,hake available
<br />as Work progresses (even though there should be a default or a
<br />of defaults under the co contracts of completion arranged under
<br />this paragraph) sufficient contract t to pay the cost of completion less the
<br />balance of the contract price; but not exceeding, including other con s and
<br />damages for witch the Surety may be liable hereunder, the amount
<br />t forth in the first paragraph hereof. The "balance of dm
<br />pric used in this paragraph, shall mean term
<br />total amount payable by
<br />Owner to Contractor under dm Contract and any amendments thereto,
<br />los the amount properly paid by Owner to Contractor.
<br />Any suit 'under this bond must be instituted before the expwatian of
<br />two (21 years -from the date on which final payment under the Contract
<br />falls due.
<br />No right of action shall accrue this bond to r for the u of
<br />any person o corporation other than the Owner named herein or the
<br />heirs, executors, administrators of successors of the Owner.
<br />Signed and sealed this __._..__.Stn __,_day of .__..._..._ September
<br />�]
<br />k040 (2 cis �f'LL(,., -a
<br />2699 (Rev, 1970)
<br />(Witness)
<br />(Witness)
<br />Countersigned:
<br />_mac ;).. t , .,. ✓.c
<br />Lnne[s7 sofa nesldent Agent—
<br />19.79,.__,
<br />.Gophe -Properties__ —_ _. - -- -- (seal)
<br />I1( (Puna )
<br />By: L= iS' —rYL IFes'..
<br />(Tide)
<br />STATE SURETY COMPANY
<br />(Surety)
<br />By
<br />P. J i�tlesket nerimfact)
<br />Power & Acknowledgment Attached
<br />(Seal)
<br />
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