WORLD TRADE CENTER - RESIDENTIAL APARTMENTS

NYC 9/11 Public Portal Document

HYC—PEP Information For Bidders and Supply & Service Agreement (Rev. n/93>

PERFORMANCE BOND (Pg-2)

NOW. THEREFORE, die cemditions of tins obligaticxi are such that if the Principal, his or its rqxesentatives ex* assigns, shall well and faithfully perfexn die said Contract and all modificatiaQS, amendments, additions and altetations thereto that may hereafter be made, accexthng to its terms and its true intern and meaning, indutfing repair and/or r^iiacement of defective wexk and guarantees of mahaenance fn* the periods stated in the Contr^, and diall fully indemnify and save harmless the Qty from all cost and damage wdtidi it may suffer by reason of failure so to do. and shall folly reimburse and rqiay the QQr fex all onthy and eiqiense which die Chy may incur in makitig good any such defouh and shall protect the said Qty of New York against, and pay any and all >, damages, costs and judgments which may or ^tall be recovered against said Qty cs* its officers or agents or wfahdt die said Q^ New Yak may be called iqiem to to any person cs* corporation by season of any damages

manner ctf dmi^ the same, cs* the select of die said PRINCIPAL, ex* his (their, its) agents ex* servants, or die imprr^ier performance of the said work 1^ die said PRINCIPAL, ex* ids (their, it^ agents or ssvants. ex- the inffizigement of any patent ex* patent rights i^ reason cd" die use of any materials furnished or work done as aforesaid ex* otiierwise, dien this oid^adon shall be null and vend, otiierwise to remain in full fexee and effect.

The Sta'eiy Sureties), for value received, hen^jy st^xdares and-agrees, if requested to do so by the Q^, to fully perform and ccaqdete the Work to be perfexmed under the Cootcact. pursuant to the terms, conditions, and covenants tberec^, if for ax^ cause, the Principal fails or n^iects to so fully perform and compieie sue± Work, The Surety (Sureties) further agrees to ctxnmence such Work of completion within twenty (20) days afte* written notice thereof from the City and to complete such Work within sudi time as die Qty may fix.

The Surety (Sureties) for value received, fex-itsdf and its successors and assigns, hereby stipulates and agrees that the obligation of said Suray (Sureties) and its bcxid ^lall be in no way impaired or affected by any extension of time, modificaticxi, omissicxi, addition, ex* change in or of the said Contract of the Work to be perfOTmed tiiereunder. ex* by any payment thereunder before the time required dierein, or by any waiver of ary provisiexxs thereof, ex by any assignment, subletting or other transfer thereof, or any Work to be performed, or any moneys due or to become due thereunder; and said Surety (Sureties) does hereby waive notice of any and all of such exientions, modificaticais. omissicxis. additions, dianges. payments, waivers, assignments, subcontracts and transfers, and hereby exjxessly stipulates and agrees dxat any and all thing?; done and ornrrted to be done by and in relation to a ignees, Subcontractors, and other transferees shall have the same effect as to said Surety (Sureties) as thou^ done ex* ennitted to be dcHie by or in relation to said Principal.

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