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<br /> INLAND PO Box 80468 UNIVERSAL
<br /> INSURANCE COMPANY Lincoln,Nebraska 68501 SURETY COMPANY
<br /> LABOR AND MATERIAL PAYMENT BOND
<br /> Conforms with the American Institute of Architects,ALA Document A312
<br /> BOND NO. 135846
<br /> KNOW ALL MEN BY THESE PRESENTS:
<br /> That Island Landhandlers LLC
<br /> as Principal,hereinafter called Principal,and Universal Surety Company a corporation organized and
<br /> existing under the laws of the State of Nebraska,Lincoln,Nebraska,as Surety,hereinafter called Surety,are held and firmly bound unto
<br /> the County Board of Supervisors of Hall County, Nebraska
<br /> as Obligee,hereinafter called Owner,for the use and benefit of claimants as hereinbelow defined,in the amount of
<br /> ***One hundred ninety seven thousand sixty five dollars& NO/100**** Dollars ($***197,065.00*** ),
<br /> for the payment whereof Principal and Surety bind themselves,their heirs,executors,administrators,successors and assigns,jointly and severally,
<br /> firmly by these presents.
<br /> • , 1-U
<br /> WHEREAS,Principal has by written agreement dated IV Otf? her I Z 2018 entered into a contract with Owner for
<br /> 2019 Hall County Gravel Contract for Stockpile A-Hall County Maintenance Yard, Stockpile B-Camp Augustine,
<br /> &Stockpile E-Aida Maintenance Yard
<br /> in accordance with Drawings and Specifications prepared by
<br /> (here insert full name,title and address)
<br /> which contract is by reference made a
<br /> part hereof,and is hereinafter referred to as the Contract.
<br /> NOW,THEREFORE,THE CONDITION OF THIS OBLIGATION is such that,if Principal shall promptly make payment to all claimants as hereinafter defined,for all
<br /> labor and material used or reasonably required for use in the performance of the Contract,then this obligation shall be void;otherwise it shall remain in full force and effect,subject,however,
<br /> to the following conditions:
<br /> (I) A claimant is defined as one having a direct contract with the Principal or with a Sub-Contractor of the Principal for labor,material,or both,used or reasonably
<br /> required for use in the performance of the Contract,labor and material being construed to include that part of water,gas,power,light,heat,oil,gasoline,telephone
<br /> servWe«rental of equipment directly applicable to the Contract.
<br /> (2) The above named Principal and Surety hereby jointly and severally agree with the Owner that every claimant as herein defined,who has not been paid in full before
<br /> the expiration of a period of ninety(90)days after the date on which the last of such claimant's work or labor was done or performed,or materials were furnished by
<br /> such claimant,may sue on this bond for the use of such claimant,prosecute the suit to final judgment for such sum or sums as may be justly due claimant,and have
<br /> execution thereon.The Owner shall not be Liable for the payment of any costs or expenses of any such suit.
<br /> (3) No suit or action shall be commenced hereunder by any claimant;
<br /> tat Unless claimant,other than one having a direct contract with the Principal,shall have given written notice to any two of the following. the Principal,
<br /> the Owner,or the Surety above named,within ninety(90)days after such claimant did or performed she last of the work or labor,or furnished the lest
<br /> of the materials for which said claim is made,stating with substantial accuracy the amount claimed and the name of the party to whom the materials
<br /> were furnished,or for whom the work or labor was done or performed Such notice shall be served by mailing the same by registered mail or certified
<br /> mail,postage prepaid,in an envelope addressed to the Principal,Owner or Surety,at any place where an office is regularly maintained for the
<br /> transaction of business,or served in any manner in which legal process may be served in the state in which the aforesaid project is located,save that
<br /> such service need not be made by a public officer.
<br /> (b) After the expiration of one(I)year following the date on which Principal ceased Work on said Contract,it being understood,however,that if any
<br /> limitation embodied in this bond is prohibited by any law controlling the construction hereof such limitation shall be deemed to be amended so as to be
<br /> equal to the minimum period of limitation permitted by such law.
<br /> (c) Other than in a state court of competent jurisdiction in and foe the county or other political subdivision of the stale in which the project,or any pan
<br /> thereof,is situated,or in the United States District Coun for the district m which the project,or any part thereof,is situated,and not elsewhere.
<br /> (4) The amount of the bond shall be reduced by and to the extent of any payment or payments made in good faith hereunder,inclusive of the payment made by Surety
<br /> of mechanics'liens which may be tiled of record against such improvement,whether or not claim for the amount of such lien be presented under and against this
<br /> bond. f}6
<br /> Signed and sealed this IC day of 0,54e.V1/4 b'tJ ,2018
<br /> In the presence of: Island Landhandlers LLC
<br /> 9 d--cXiLec By:�Leita U34k4&'„'Y7 (Seal)
<br /> 9
<br /> (Witness) Gerald T.Williams-Partner Principal
<br /> Universal Surety Company
<br /> 2 pfd
<br /> \ iy" a By:fir, IIA[�� (Seal)
<br /> (witness) .Gary Rocer-Attorney in fact surety
<br /> This bond is issued simultaneously with performance bond in favor of the Owner conditioned on the full and faithful performance of the Contract.
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