Laserfiche WebLink
comply with bond statutes in the location where the Construction Work is being performed, and the bond statutes <br />contain a statute of limitations for suits on the performance bond, then the limitation period set forth herein shall <br />be read out of this bond and the statute of limitation set forth in the bond statutes shall be read into this bond. If <br />the limitation set forth in this bond is void or prohibited by law, the minimum period of limitation available to <br />sureties as a defense in the jurisdiction of the suit shall be applicable, and said period of limitation shall be <br />deemed to have accrued and shall commence to run no later than the earlier of (y) the date of substantial <br />completion of the Construction Work, or (z) the date Principal ceased performing Construction Work, excluding <br />warranty work. <br />6. No suit or action shall be commenced hereunder other than in a court of competent jurisdiction <br />in the county or other political subdivision of the state in which the project, or any part thereof, is situated, or in <br />the United States District Court for the district in which the project, or any part thereof, is situated, and not <br />elsewhere. <br />7. This bond shall not afford coverage for any liability of Principal for tortious acts, whether or not <br />said liability is direct or is imposed by the Contract, and shall not serve as or be a substitute for or supplemental <br />to any liability or other insurance required by the Contract. No right of action shall accrue on this bond to or for <br />the use of any person or entity other than the named Obligee . <br />8. This bond is provided to comply with applicable statutory or other legal requirement for <br />performing construction contracts for public owners in the location where the Construction Work is being <br />performed. Except as provided in paragraph 5 above, all provisions in the bond which are in addition to or differ <br />from applicable statutory or legal requirements shall be read out of this bond, and all pertinent statutes and other <br />legal requirements shall be read into the bond. <br />Signed this 31st day of August, 2016. <br />CS-IO 15-0905 <br />Belsaas & Smith Construction, Inc. <br />(Principal) <br />Travelers Casualty and Surety Company of America <br />By \t~~I~~ <br />Lori McKimmy, AttomeY -1 act <br />Performance Bond -Page 2 of 2