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<br /> ~ <br /> 1 <br /> Bond No. 929428384 <br /> BON~J <br /> KNOW ALL MEN BY THESE PRESENTS that we, Eugene Sand & Gravel Inc <br /> as Principal, and Western Surety Company a Corporation <br /> organized and existing under the laws of the State of South Dakota and authorized to <br /> transact surety business in the State of Oregon, as Surety, are held and firmly bound unto <br /> the City of Eugene as Obligee in the sum ofTwo Hundred Sixty Two Thousand One Hundred <br /> Thirty) Four and No/100------------------------ ($262,134.00--- Forthepayment <br /> thereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, <br /> administrators, successors and assigns, jointly and severally, firmly by these presents. <br /> THE CONDITION OF THIS OBLIGATION IS SUCH THAT <br /> WHEREAS "rrincipal will be constructing an improvement specified in an Engineering and <br /> Cons ruction agreement between Olson & Morris <br /> and ~he City of Eugene, dated May 2, 2007 ,and <br /> WHEREAS Principal will be issued a Public Improvement Permit upon presentation of this <br /> bond and any documents required by the City for the purpose of issuing said permit for <br /> Lone Oak Subdivision (revised for lower electrical sub quote) <br /> Lone''Oak Avenue, Eugene OR <br /> under City inspection and supervision, and <br /> WHEREAS said permit will be issued in consideration of the principal's agreement to <br /> install the improvement in accordance with City requirements and is conditioned upon the <br /> giving of a bond to the City of Eugene guaranteeing that said improvement be free from <br /> any defects due to faulty workmanship or materials, and that for a period of one year <br /> from its completion said principal will at his own expense make good and repair any <br /> defects arising from such faulty workmanship or materials and guarantee payment of an <br /> engineering charge for said improvement, <br /> NOW, THEREFORE, if said Ptincipal shall fully and faithfully install said improvement in <br /> accordance with City requirements and under City supervision and inspection, and shall <br /> install the same free from any defects due to faulty workmanship or materials, and shall <br /> for a period of one year from the completion of said improvement at his own expense <br /> make good and repair any defects arising from such faulty workmanship or materials, and <br /> shall make payment in full for City of Eugene engineering charges then this obligation shall <br /> be void. Otherwise it shalt be and remain in full force and effect. <br /> Eu ene S & Gravel Inc_ W rn Surety Compan f Se.AL) ,I <br /> al 5uret~ <br /> l <br /> gy: y• <br /> 'ne es, A ney -Fact <br /> Date: July 16, 2007 <br /> :~ls: •BON0.9~ <br /> Ho. 1 <br /> i <br /> ~ A-5 <br /> i <br /> i <br /> I <br /> <br />