Chapter 12 - EXHIBIT 12I • PERFORMANCE BOND (COLORADO PUBLIC WORKS ACT)

• Jurisdiction: Colorado

EXHIBIT 12I • PERFORMANCE BOND (COLORADO PUBLIC WORKS ACT)

PERFORMANCE BOND (Colorado Public Works)

KNOW ALL MEN BY THESE PRESENTS, That the Contractor, __________, as Principal, of the County of __________, State of __________, hereinafter called "Principal," and __________, as Surety, hereinafter called "Surety," a corporation organized and existing under the laws of the state of __________ (surety's state of domicile) are held and firmly bound unto [COLORADO PUBLIC ENTITY], as Obligee in the sum of __________ Dollars ($__________) for the payment of which Principal and Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally, by these presents.

WHEREAS, Principal and [COLORADO PUBLIC ENTITY] have entered into a written agreement called the "Contract," dated __________, for the construction of a Project described as __________, located at __________ (project address) which Contract is hereby incorporated by reference and made a part hereof.

NOW THEREFORE, if the said Principal shall at all times duly and faithfully discharge its, his, or their duties under the contract, and shall duly and faithfully perform all the obligations thereunder, and shall and will indemnify and save harmless [COLORADO PUBLIC ENTITY], and all persons as provided by the Statutes of the State of Colorado, from any and all damages or loss which the said [COLORADO PUBLIC ENTITY] or any persons as provided by the Statutes of the State of Colorado may or shall suffer by reason of the default of the Principal or anyone acting for him as subcontractor or otherwise in the performance of this contract, or by reason of any failure on the part of Principal, his agents, servants, or employees, his subcontractor or subcontractors, or any of them, in the performance of said contract or any portion thereof, these presents shall become void, otherwise to remain in full force and effect.

[COLORADO PUBLIC ENTITY] shall be under no obligation, except as expressly provided by statute, to withhold any sums due Principal under the terms of this contract, or to protect in any...