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LABOR AND MATERIAL PAYMENT BOND <br />KNOW AL1, MFN BY THESE PRESENTS: that <br />,a as Pr;n(•ipal, (hereinafter called Contractor) and, <br />E _ as Surety (hereinafter called Surety) are held <br />and firmly bound unto as Obligee (hereinafter <br />i called Obligee) for the use and benefit of claimants as hereinbelow defined, <br />in the amount of Dollars <br />(S ), :or the payment whereof Contractor and Surety bind them- <br />selves, their heirs, executors, administrators, successors and assigns, joint- <br />ly and severally, firmly by these presents. <br />I WHEREAS, Contractor has by written agreement dated <br />entered into a contract with Obligee for construction of <br />— in accordance with Drawings and Speci- <br />Fications prepared by - _ which <br />,tract is by reference made a part hereof, and is hereinafter referred to as <br />the Contract. <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contrac- <br />tor shall promptly make payment to all claimants as hereinafter defined, for <br />all labor and material used or reasonably required foe use in the performance <br />�i of the Contract and shall keep the Project free and clear of all liens as pro- <br />vided in the Cnntr8Lt, then this obligation shall be void; otherwise it shall <br />remain in full f, rce and effect, subject, however, to tite following conditions: <br />1. rla=mant is defined as one permitted by applicable law to filo a Pub- <br />lic Contractor's Bond claim for labor, material, or both, used or reasonably <br />required for use in the performance of the Contract, labor and material being <br />construed to include without limitation that part of water, gas, power, light, <br />heat, oil, uasoline, telephone service, rental of equipment, insurance premi- <br />ums, taxes, and anv items for which a claim or lien may be filed against the <br />Obligee under the applicable law. <br />?. The above named Contractor and Surety hereby jointly and severally <br />agree with the Obligee that every claimant as herein defined, who has not been <br />paid in full ma- sue on this bond for the use of such claimant, prosecute the <br />suit to final ji rgment for such sums xis may he justly due claimant, enc have <br />execution theremi. The Obligee shall nit he liable for the payment of any <br />costs or expenses of any such suit. <br />8507h <br />Copyright 198', <br />Ronestroo, Rosene, Andrrlio <br />t Lisaciatma_ Ine- <br />