Coach 2013 Annual Report Download - page 943

9. The Surety hereby waives notice of any change, including changes of time, to the Construction Contract or to related subcontracts, purchase orders and
other obligations. The Surety agrees that no change, extension of time, alteration, addition, omission or other modification of the Construction Contract,
the Contract Documents or the Work to be performed, shall in any way affect its obligation under this Bond.
10. Any proceeding, legal or equitable, under this Bond may be instituted in any court of competent jurisdiction in the location in which the work or part of
the work is located and shall be instituted within two years after a declaration of Contractor Default or within two years after the Contractor ceased
working or within two years after the Surety refuses or fails to perform its obligations under this Bond, whichever occurs first.
11. Notice to the Surety, the Obligee or the Contractor shall be mailed or delivered to the address shown on the first page of this Bond.
12. Definitions:
(i) Balance of the Contract Price: The total amount payable by the Obligee to the Contractor under the Construction Contract after all proper
adjustments have been made, including allowance to the Contractor of any amounts received or to be received by the Obligee in settlement of
insurance or other claims for damages to which the Contractor is entitled, reduced by all valid and proper payments made to or on behalf of the
Contractor under the Construction Contract.
(ii) Construction Contract: The agreement between the Obligee and Contractor identified on the cover page, including all Contract Documents and
changes made to the agreement and the Contract Documents.
(iii) Contractor Default. Failure of the Contractor, which has not been remedied or waived, to perform or otherwise to comply with a material term of
the Construction Contract.
(iv) Contract Documents. All the documents that comprise the agreement between the Obligee and Contractor.
13. If this Bond is issued for an agreement between a Contractor and Subcontractor, the term Contractor in this Bond shall be deemed to be Subcontractor
and the term Owner shall be deemed to be Contractor.
CONTRACTOR/PRINCIPAL SURETY
Name Name
Signature Signature
Name and Title Name and Title