
2
Exhibit N
FORM OF PERFORMANCE BOND
(Continued)
a) Complete the project in accordance with the terms and conditions of the Contract
Documents; or
b) Obtain a bid or bids for completing the project in accordance with the terms and
conditions of the Contract Documents, and upon determination by Surety of the
lowest responsible Bidder, or, if County elects, upon determination by County
and Surety jointly of the lowest responsible Bidder, arrange for a contract
between such Bidder and County, and make available as work progresses (even
though there should be a default or a succession of defaults under the Contract
or Contracts of completion arranged under this paragraph) sufficient funds to pay
the cost of completion less the balance of the Contract price; but not exceeding,
including other costs and damages for which the Surety may be liable hereunder,
the amount set forth in the first paragraph hereof. The term "balance of the
Contract price," as used in this paragraph, shall mean the total amount payable
by County to Contractor under the Contract and any amendments thereto, less
the amount properly paid by County to Contractor.
No right of action shall accrue on this bond to or for the use of any person or corporation
other than County named herein.
The Surety hereby waives notice of and agrees that any changes in or under the
Contract Documents and compliance or noncompliance with any formalities connected
with the Contract or the changes does not affect Surety's obligation under this Bond.
Signed and sealed this ______ day of _____________________, 20_____.
Exhibit 3
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