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� �i��f�l lP+� _= Page 19 <br /> �✓ � <br /> . � �� �����c�&��� ,.�: <br /> - ��������� - . <br /> �700 Indian Creek Parkv�ay, P.O. Box 8s3, Sna�.vnee Mission, Kansas 66201 Telephone (913) 649-6780 <br /> Narch 11, 1980 � � � �� L 1'y� h} <br /> . , « D <br /> � T��'� <br /> i.'.i�y 13 <br /> Mr. Walter R. Benson <br /> Clerk/Administrator (�'�' �'r= �Ti��,'''�k�}' <br /> City of Orono <br /> Pos� Gffice Box 66 <br /> Crystal Bay, Minnesota 55323 <br /> — Re: Bond No. : U 97 77 06 <br /> - Princit�al: Buffalo Bituminous , Inc. <br /> Obligee: City of Orono, Minnesota <br /> Project: Street Grading and Surfacing on <br /> Ring noute Road <br /> Dear Mr. Benson: <br /> Your letter of January 25, 1980, addressed to NLr. R. W. Frank, Attorney-in- <br /> Fact and agent for the United Pacific Insurance Company has been referred to <br /> �his oriice. <br /> Your request that United Pacific Insurance Company agree and reaffirm that its <br /> performance bond U 97 77 06 will respond to a claim for liquidated da.mages, is <br /> both superfluous and unnecessary. Where liquidated damages are stipulated in a <br /> contract covered by the performance bond, it is obvious that the bond will respond <br /> to the liquidated damages, subject to the rights and defenses of the owner and the <br /> contractor and a determination as to the actual damages sustained. <br /> f However, in an effort to reconcile the differences between the City of Orono and <br /> Buffalo Bituminous, Inc. , concerning payment of earned contract funds the United <br /> i', Pacific Insurance Company does agree that the above performance bond includes <br />�� coverage for liauidated damage, if any, up to the amount stipulated in the contract <br />�� subject to a detern.ination of actual damages to the City of Orono from the alleged <br /> delayed completion date and also subject to the rights and defenses available to <br /> the Surety under conmon, statutory and judicial law. <br /> If you have any further questions concerning application of the above bond to this <br /> project, please feel free to contact me. <br /> Yours very truly, <br /> UNITED PACIFIC INSURANCE CONf�f�NY <br /> �-; �� �',��J,�,---,.-��' <br /> ��� <br /> H. S. Hudson, Manager <br /> Midwest Bond Claims <br /> HSH/ms ' <br /> cc : Mr. Roger W. Frank <br /> !; United Pacit�c Insurance Company Planet Insurance Comparry <br /> , Relionce Insurance Company <br />