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PAYMENT BOND Bond #789959P <br />Contract #2010-00023 <br />Job #4671 <br />KNOW ALL MEN BY THESE PRESENTS, that we KIPCO Inc <br />as principal, and Developers Surety and Indemnity Company as surety, are jointly <br />and severally held and bound unto the CITY OF EUGENE, in Lane County in the sum of, $120,195.00------------- <br />( One Hundred Twenty Thousand One Hundred Ninety Five and No/100--------------------- ) for the payment of which <br />we jointly and severally bind ourselves, our heirs, executors, administrators and assigns or successors and assigns, <br />firmly by these presents. <br />THE CONDITION OF THIS BOND IS SUCH that, whereas the said principal herein has made and entered into a <br />certain contract, a copy of which is attached hereto, with the CITY OF EUGENE which contract, together with the <br />applicable plans, Standard Specifications, Special Specifications, and schedule of contract prices, is by this reference <br />made a part hereof, whereby the said principal agrees to do in accordance with the certain terms, conditions, <br />requirements, plans and specifications which set out in said contract and all authorized modifications of the contract <br />which increase the amount of the work and the amount of contract. Notice to the surety of any of the immediately <br />foregoing are waived. <br />NOW, THEREFORE, if the principal herein shall make payment promptly, as due to all subcontractors and to all <br />persons supplying to the Contractor or his subcontractors, equipment, supplies, labor or materials for the prosecution <br />of the work, or any part thereof, provided for in said contract, and shall pay all contribution of amounts due its <br />workers compensation carrier and the State Unemployment Compensation Trust Fund from such Contractor or <br />Subcontractors incurred in the performance of said contract, and pay all sums of money withheld from Contractor's <br />employees and payable to the Revenue Department; and shall pay all other just debts, dues and demands incurred in <br />the performance of the said contract and shall pay the CITY OF EUGENE such damages as may accrue to the City <br />under said contract, then this obligation is to be void, otherwise to remain in full force and effect. <br />Nonpayment of the bond premium will not invalidate this bond nor shall the CITY OF EUGENE be obligated for the <br />payment thereof. <br />r <br />WITNESS our hands this 12 day of May 2010 <br />KIPCO Inc <br />Principal <br />By <br />Authorized Official Signature <br />Principal <br />By <br />Authorized Official Signature <br />By <br />Authorized Official Signature <br />Surety Developers Surety and Indemnity Company <br />By <br />Mar aret rnaftent <br />By <br />Au ed Off! 'al Signature 3 2,L~ <br />iy A t Catherine . Go s <br />(A Power of Attorney for <br />the Attorney-in-Fact must <br />be attached to this Bond) <br />Surety's Seal must be Affixed <br />