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2007-32SECTION 00500 AGREEMENT THIS AGREEMENT is dated as of the 24 day of JJ~ in the year 2007 by and between n/City of Clermont (hereinafter called OWNER) and f~-t~•in a C~tvS~t(~ {hereinafter called CONTRACTOR) ~P rdc , OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows: Article 1. WORK. CONTRACTOR shall comple#e all Work as specified or indicated in the Contract Documents. The Work is generally described as follows: Greater Hills Water Treatment Plant The Project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows: The Work is the whole project, as described and summarized under Section 01010, Summary of Work.. Article 2. ENGINEER. The Project has been designed by Boyle Engineering Corporation, who is hereinafter called ENGINEER and who will assume all du#ies and responsibilities and will have the rights and authority assigned to ENGINEER in the Contract Documents in connection with completion of the Work in accordance with the Contract Documents. Article 3. CONTRACT TIME. 3.1. The Work will be substantially completed within 390 days after the date when the Contract Time commences to run as provided in paragraph 2.3 of the General Conditions, and completed and ready for final payment in accordance with paragraph 14.13 of the General Conditions within 420 days after the date when the Contract Time commences to run. 3.2. Liquidated Damages. OWNER and CONTRACTOR recognize that time is of the essence of this Agreement and that OWNER will suffer financial loss if the Work is not substantially complete within the time specified in paragraph 3.1 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. They also recognize the delays, expense and difficulties involved in proving in a legal or arbitra#ion proceeding the actual loss suffered by OWNER if the Work is not substantially complete on time. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay OWNER Five Hundred dollars ($500.00) for each day tha# expires after the #ime specified in paragraph 3.1 for substantial completion until the Work is substantially complete and Five Hundred dollars ($500.00 for each day that expires after the time specified in paragraph 3.1 for completion until the Work is complete. Article 4. CONTRACT PRICE. 4.1. OWNER shall pay CONTRACTOR for performance of the Work in accordance with the Contract Documents in current funds as set forth in the Bid Form. The total contract price is the sum of the base bid for a total contract price of $6.830,000.00. AGREEMENT OOS00-1 20083.00 8 Aug 2007 (GH00500.doc) Article 5. PAYMENT PROCEDURES. Contractor shall submit Applications for Payment in accordance with Article 14 of the General Conditions. Applications for Payment will be processed by ENGINEER as provided in the General Conditions. 5.1. Progress Payments. OWNER shall make progress payments on account of the Contract Price on the basis of CONTRACTORS Applications for Payment as recommended by ENGINEER, on or about the LAST day of each month during construction as provided below. All progress payments will be on the basis of the progress of the Work measured by the schedule of values provided for in paragraph 14.1 of the General Conditions. 5.1.1. Prior to Substantial Completion progress payments will be in an amount equal to: 90% of the Work completed, and 90% of materials and equipment not incorporated in the Work but delivered and suitably stored, less in each case the aggregate of payments previously made. 5.1.2. Upon Substantial Completion, OWNER shall pay an amount sufficient to increase total payments to CONTRACTOR to 5% of the Contract Price, less such amounts as ENGINEER shall determine in accordance with paragraph 14.7 of the General Conditions. 5.2. Final Payment. Upon final completion and acceptance of the Work in accordance with paragraph 14.13 of the General Conditions, OWNER shall pay the remainder of the Contract Price as recommended by ENGINEER as provided in said paragraph 14.13. Article 6. INTEREST. All moneys not paid when due hereunder shall bear interest at the maximum rate allowed by law at the place of the Projecf. Article 7. CONTRACTOR'S REPRESENTATION. In order to induce OWNER to enter into this Agreement CONTRACTOR makes the following representations: 7.1. CONTRACTOR has familiarized himself with the nature and extent of the Contract Documents, Work, locality, and with all local conditions and federal, state and local laws, ordinances, rules and regulations that in any manner may affect cost, progress or performance of the Work. 7.2. CONTRACTOR has studied carefully all reports of investigations and tests of subsurface and latent physical conditions at the site or otherwise affecting cos#, progress or performance of the Work which were relied upon by ENGINEER in the preparation of the Drawings and Specifications and which have been identified in the Supplementary Conditions. 7.3. CONTRACTOR has made or caused to be made examinations, investigations and tests and studies of such reports and related data in addition to those referred to in paragraph 7.2 as he deems necessary for the performance of the Work at the Contract Price, within the Contract Time and in accordance with the other terms and conditions of the Contract Documents; and no additional examinations, investigations, tests, reports or similar data are or will be required by CONTRACTOR #or such purposes. 7.4. CONTRACTOR has correlated the results of all such observations, examinations, investigations, tests reports and data with the terms and conditions of the Contract Documents. AGREEMENT 00500-2 20083.00 8 Aug 2007 (GHOOSOO.doc) 7.5. CONTRACTOR has given ENGINEER written notice of all conflicts, errors or discrepancies that he has discovered in the Contract Documents and the written resolution thereof by ENGINEER is acceptable to CONTRACTOR. Article 8. CONTRACT DOCUMENTS. The CONTRACT Documents which comprise the entire agreement between OWNER and CONTRACTOR are attached to this Agreement, made a part hereof and consists of the following in no order of priority: 8.1. This Agreement. E~.~ -~~"~«p:f te-t#+s-Agreement ages _ to _, :^-.n~ae;v~~ 8.3. Performance and Payment Bonds. 8.4. Insurance Certificates and Endorsements. 6.5. Notice of Award and Notice to Proceed, 8.6. General Conditions. 8.7. Supplementary Conditions. 8.8. Specifications as listed in the table of contents. 8.9. Drawings, consisting of sheets numbered 1 through 115 inclusive with each sheet bearing the following general title: Greater Hills Water Treatment Plant Expansion. 8.10. Addenda numbers 1 to 3 inclusive. 8.11. CONTRACTOR'S Bid. 8.12. Any Modifications, including Change Orders and Field Orders, issued pursuant to paragraphs 3.4 and 3.5 of the General Conditions on or after the Effective Date of the Agreement. 8.13. Invitation to Bid and Instructions to Bidders. There are no Contract Documents other than those listed above in this Article 8. The Contract Documents may only be altered, amended or repealed as set forth in the General Conditions. Article 9. MISCELLANEOUS. 9.1. Terms used in this Agreement which are defined in Article 1 of the General Conditions shall have the meanings indicated in the General Conditions. 9.2. No assignment by a party hereto of any rights under or interests in the Contract Documents will be binding on another party hereto without .the written consent of the party sought to be bound; and specifically but without limitation, moneys that may become due and moneys that are due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by faw), and unless specifically stated to the contrary in any written consent to an assignment no assignment wi11 release or discharge the assignor from any duty or responsibility under the Contract Documents. AGREEMENT 00500-3 20083.00 8 Aug 2007 (GH00500.doc} 9.3. OWNER and CONTRACTOR each binds himself, his partners, successors, assigns and legal representatives to the other party hereto, his partners, successors, assigns and legal representatives in respect to all covenants, agreements and obligations contained in the Contract Documents. Article 10. OTHER PROVISIONS. 10.1. In consideration of the CONTRACTOR's Indemnity Agreement as set out in the Contract Documents, OWNER specifically agrees to give the CONTRACTOR $25.00 and other good and valuable considerations, which is paid on behal# of all parties indemnified. IN WITNESS WHEREOF, the parties hereto have signed this Agreement in triplicate. One counterpart each has been delivered to OWNER, CONTRACTOR and ENGINEER. AI( portions of the Contract Documents have been signed or identified by OWNER and CONTRACTOR or by ENGINEER on their behalf. n This Agreement will be effective on ' OWN fay ro1~ Ti~c~;lle, ~~ (CORPOR TE SEAL) Attest __ ~acry Cc~( . C:~y Cferf~. Address for giving notices ~0~~. 1~1~ arl~rv~. ~~'. ~~ ~ m~r~-'t- , ~ L- 3~~ t 1 (tf OWNER is a public body attach evidence of author- ity to sign and resolution or other document authoriz- ing execution of Agreement.) CONTRACTOR Pr By Roy W. Smith, (CORPORATE SEAL} Thomas M. Perl~y, Secretary Address for giving notices 1000 Jetstream Drive Orlando, FL 32824 License No. CGC0327504 Agent for service of Process: Roy W. Smith, Jr. 1000 Jetstream Drive, Orlando, FL 32824 20 str ' ori.,6roup, Tnc. . , Presiderit~ - . AGREEMENT 00500-4 20083.00 8 Aug 2007 (GH00500.doc) PERFORMANCE AND PAYMENT BOND (Public Work) In compliance with F.S. Chapter 255.05(1)(a) BOND NO.: 104879230 CONTRACTOR NAME: Prime Construction Group, Inc. CONTRACTOR ADDRESS: P.o. Box s9oso7 Orlando, FL 32859 CONTRACTOR PHONE NO.: 407-8s6-8180 SURETY COMPANY: Travelers Casualty and Surety Company of America 7870 Woodland Center Blvd. Tampa, FL 33602 813-890-4157 SURETY AGENT: Benjamin H. French 352-374-7779 OWNER NAME: City of Clermont OWNER ADDRESS: P.O. Box 120219 Clermont, FL 34712 OWNER PHONE NO.: OBLIGEE NAME:(lf contracting entity is different from the owner, the contracting public entity) OBLIGEE ADDRESS: OBLIGEE PHONE NO.: BOND AMOUNT: ~b,83o,000.00 CONTRACT NO.:(lfapplicable) DESCRIPTION OF WORK: Greater Hills Water Treatment Plant PROJECT ADDRESS: LEGAL DESCRIPTION: FRONT PAGE All other bond page(s) aze deemed subsequent to this page regazdless of any page number(s) that may be pre-printed thereon Bond No. 104879230 SECTION 0061.1 CONSTRUCTION PERFORMANCE BOND CONTRACTOR: Prime Construction Group, Inc. Name P.O. Box 590507 Orlando, FL 32859 Address OWNER: City of Clermont Name P.O. Sox 120219 Clermont, FL 34712-0219 Address CONSTRUCTION CONTRACT Amount: $6,830,000.00 Description: Greater Hills Water Treatment Plant Larne Clermont, ~xatwe Travelers Casualty and Surety SURETY;Company of America Name 7870 Woodland Center Blvd. Tampa FL 33614 Principal Place o! Business Principal Mace of Business BOND Date (Not earlier than Construction Contract Date): Amount: $6,830,000.00 Modifications to this Ba orm: This bond is iven to com I with Sections 255.05 Florida Statutes and any action tnstwtuted by c iman un er is n or paymen mus to accor once a nofice and time limitation provisi s I Section on e a u es. CONTRACTOR AS PRI CI SURETY - °me~~hs 'o p• Seal) ~a~~enr~`'Casualty and Surety Col't1p°a~ny of~~erica , Signature: Signature:' ~"" ~7 J ~~ Name: ' ~o W . th Jr . Name: Benjamin H. French fi Title: Preside Title: Attorney-in-Fact & FL.Resident~Aaent _ 1. The Contractor and the Surety, jointly and severally, bind themselves, their heirs, executors, administrators;°successors and. assigns to the Owner far the performance of the C.onstatction Contract, which is incorporated herein`by7eferenCe: 2. If the Contractor performs the Construction Contract, the Surety and the Contractor shall have r1o obligation under this Bond, except to paniclpata in conferences as provided in Subparagraph 3.1. 3. If there is no Owner Default, the Surety's obligation under this Bond shall arise after: 3.1 The Owner has notiiied the Contractor and the Surety at Lis address described above, thaf the Owner is considering declaring a Contractor flefault and has requested and attempted to arrange a conference with the Contractor and the Surety to be held not later than fifteen days after receipt of such notice to discuss methods of performing tfre Construction Contract. if the Owner, the Contractor and the Surety agree, the Contractor shall be allowed a reason- able time to perform the Construction Contract, but such an agreement shall cwt waive the Owner`s right, if any, subsequentty to declare a Contractor Default; and 3.2 The Owner has declared a Con#ractor Default and formally terminated the Contractor's right to complete the contract. Such Contractor De€ault shall not be declared earlier than twenty days after the Contractor and the Surety have roceivod notice as provided in Subparagraph 3.1; and 3.3 The Owner has agreed to pay the Balance of the Contract Price to the Surety in accordance with the terms of the Construction Contract or to a contractor selected to perform the Construction Contract in accordance with the terms of the contract with the Owner. 4. When the Owner has satisfied the conditions of Paragraph 3, the Surety shall promptly and at the Surety's expense take one of the following actions: 4.1 Arrange for die Contractor, with consent of the Owner, to perform and complete the Construction Contract; or 4.2 Undertake to perform and complete the Constructlan Contract itself, through its agents or through independent contractors; or CONSTRUCTION PERFORMANCE BOND UUbll-1 20083.00 31 Jul 2007 (GH00611.DOC) 4.3 Obtain bids or negotiate proposals from qualified contractors acceptable to tt+e Owner for a contract for performance and completion of the Construction Contract, arrange for a contract to be prepared for execution by the Owner and the Corriracior selected with the Owner's concurrence, to be secured with performance and payment bonds executed by a qualified surety equivalent to the bonds issued on the Construction Contract, and pay to the Owner the amount of damages as described in Paragraph 6 In excess of the i3alance of the Contract Price incurred by the Owner resulting from the Contractor's default; or 4.4 Waive its right to perform and complete, arrange for completion, or obtain a new contractor and with reasonable prompfiess under the circumstances: m. After investigation, determine the amount for which it may be liable to the Owner and, as Soon as practica- ble after the amount is determined, tender payment there#or to the Crvvner; or 2. Deny liability in whole or in part and notify the Owner citing reasons ttmerefor. 5. If the Surety does not proceed as provided in Paragraph 4 with reasonable promptness, the Surety shall be deemed to be in default on this Bond tittean days after receipt of an additienai mitten notice from the Owner to the Surety demanding that the Surety perform its obligations under this Bond, and the owner shalt be entitled to enfoce any remedy available to the Owner. If the Surety proceeds as provided in Subparagraph 4.4, and the Owner refuses the payment tendered or the Surety has denied liability, in wtmole or in part, without further notice the Owner shall be entitled to enforce any remedy available to the Owner. fi. After the Owner has terminated the Contractor's right to complete the Construction Contract, and if the Surety elects to act under Subparagraph 4.1, 42, or 4.3 above, then the responsibilities of the Surely to the Owner shall not be greater than those of the Contractor under the Construction Contract, and the responsitxlitles of the Owner to the Surety shalt not be greater than those of the Owner under the Construction Contract. To the limit of the amount of this Bond, but subject to commitment by the Owrmer of the Balance of the Contract Price to mitigation of costs and damages on the Construction Contract, the Surety is obligated without duplication for: 6.1 The responsibilities of the Contractor for correction of defective work and completion of the Construction Contract; 6.2 Additional legal, design professional and delay costs resulting from the Contractor's Default, and resulting from the actions or failure to act of the Surety under Paragraph 4; and 6.3 Liquidated damages, or if na liquidated damages are specified in the Construction Contract, actual damages caused by delayed performance or non-performance of the Contractor. 7. The Surety shall not be IiafNe to the Owner or others for obligations of the Contractor that are unrelated to the Construction Contract, and the Balance of the Contract Price shall not be reduced or set off on account of any such unrelated obligations. No right of action Shall accrue on this Bond to any person or entity other than the Owner or tis heirs, executors, administrators, or successors. B. The Surety hereby waives notice of any change, including changes of time, to the Construction Contract or to related subcontracts, purchase orders and other obligations. 9. Any proceeding, legal or equitable, under this Bond may bs instituted in any court of competent jurisdiction in the location in which the work or part of the work is located and shalt be instituted within two years after Contractor Default or within two years after the Contractor ceased working or within two years after the Surety refuses or fails to perform Its obligations under this Bond, whichever occurs first. If the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense in the jurisdiction of the suit shalt be applicable. 10. Notice to time Surety, the Owner or the Contractor shall be mailed or delivered to the address shown on the signature page. 11. When this Bond has been furnished to comply with a statutory or other legal requirement in the location where the construc- tion was to be performed, any provision in this Bond conflicting with said statutory or legal requirement shalt be deemed deleted herafrom and provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. The intent is that this Bond shalt be construed as a statutory bond and not as a common law bond. 12. Definitions: 12.1 Balance of the Contract Price: The total amount payable by the Owner to the Contractor under the Construction Contract after off proper adjustments tmave been made, including allowance to the Contractor of any amounts received or to be received by the Owner in settlement of insurance or other claims for damages to which the Contractor is entitled, reduced by all valid and proper payments made to or on behalf of the Contractor under the Construction Contract. 12.2 Construction Gontract; Tha agreement between the Owner and the Contractor identified on the signature page, including all Contract Documents and changes thereto. 12.3 Contractor Default: Failure of the Contractor, which has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Construction Contract. 12.4 Owner Default: Failure of the Owner, which tmas neither been remedied nor waived, to pay fne Contractor as required 6y the Construction Contract or to perform and complete or comply with the other terms thereof. ENb OF SECTION CONSTRUCTION PERFORMPNCE BOND 00611-2 20083.00 31 Jul 2007 (GH0061~,.DOC) Bond No. 104879230 SECTION 00620 CONSTRUCTION PAYMENT BOND (FLORIDA PUBLIC WORKS PROJECTS) Travelers Casualty and Surety CONTRACTOR: Prime Construction Group, Inc. SURETY: Company of America Name Name P.O. Box 590507 7870 Woodland Center Blvd. ._ Orlando, FL 32859 Tampa, FL 33614 Address Pr'vicipaS Place of Susmess OWNER: City of Clermont Name P.O. Box 120219 Clermont. FL 34712-0219 - Addre55 CONSTRUCTION CONTRACT Date: __ Amount: _$6, 830,000.00 Description: Greater Hills Water Treatment Plant __ Name C e mont. Florida ._ locatan Principal Place of Business BOND Date (Not earlier than Construction Contract Date): _ _ ___ _ __.___ _._.__ Amount: $6 830 000.00 Modifications to this Bon F :This bond is given to comply with Sections 255.05, Florida Statutes, and any action instituted by cla ant under this bond for payment must be in accordance with the notice and time limitation provisi sin ecton 255.05, Florida Statutes. CONTRACTOR AS PRIN IP SURETY C~tn~ar~y- ea Clom~~rt~y: - (Co Se~~ n e frost ction ra e e s Casualty and Surety Company o merica Signature: Signature: .Name: Roy W , th Jr . Name: Benjamin H. French Title: Title: Attorney-in-Fact 8 Ft_RPS~f~~,nt Ag~ttt Furnish bond in accordance with Florida Statute 255.05. - 1. The Contractor and the Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successor's and assigns to the Owner to pay for labs; materials and equipment furnished for use in the pertorrnance of the Construction Contract, which is incorporated herein by reference. 2. With respect to the Owner, this obligation shall be null and void if the Contractor: 2.1 Promptly makes payment, directly or indirectly, for ail sums due Claimants, and 2,2 Defends, indemftifies and holds tfarrnless the Owner from alt claims, demands, liens or suits by any person or entity who furnished labor, materials or equipment for use in the pertomfance of the Construction contract, provided the Owner has promplfy notified the Contractor and the Surety (at the address shown above) of any claims, demands, liens or suits and tendered defense of such claims, demands, liens or suits to the Contractor artd the Surety, and provided there Is rio Owner Default. 3. With respect to Claimants, this obligation shall be null and void if the Contractor promptly makes payment, directly or irxii- rectly, for all sums due. 4. The Surety shall have no obligation fo Claimants under this l3ond until: 4.t Claimants who are employed by or have a direct contract with the Contractor have given notice to the Surety (al tl7e address shown above) and sent a copy, or notice thereof, to the Owner, stating that a claim is being made under this Bond and, with substantial accuracy, the amount of the claim. 4.2 Claimants who do not have a direct contract with the Contractor. a. Have furnished written notice [o the Contractor and sent a copy, or notice thereot, tc the Owner, within 90 days after having last performed labor or fast furnished materials or equipment included in the claim stating, with substantial accuracy, the amount of the claim and the name of the party to -vhom the materials were furnished or supplied or for whom the labor was done or performed; and CONSTRUCTION PAYMENT BOND 00620-1 20083.00 31 Jul 2007 (GH00620.DOC) b. Have either received a rejection in whole or in part from tare Cantractor, or not rece"sued within 30 days of fiurnishing the above notice any communication from the Contractor by which the Contractor has indicated the claim will be paid directly or indirectly: and c. Not having bear, paid within the above 30 days, have sent a written notice to the Surety (at the address shown on the signature page) and sent a copy, or notice thereof, to the Owner, staffing that a claim is being made under this Band and enclosing a copy of the previous written notice fumished to the Cantractor. 5. If a notice required by Paragraph 4 is given by the Owner to the Contractor or to the Surety, that is sufficient compliance. 6. When the Claimant has satisfied the conditions of Paragraph 4, the Surety shall promptly and at the Surety's expense take the following actions: 6.1 Send an answer to the Claimant, with a copy to the Owner, within 45 days after receipt of the claim, Stating the amounts that are undisputed and the basis for challenging any amounts that are disputed. fi.2 Pay or arrange for payment of any undisputed amounts. !. late Surety's total obligation shall not exceed the amount of this Bond, and the amount of this Bond shall be credited for any payments made in good faith by the Surety. 8. Amounts owed by the Owner to the Contractor under the Construction Contract shall be used for the performance of the Construction Contract and to satisfy claims, if any, txrder any Construction Performance Bond. By the Contractor fiumishing and iha Owner accepting this Bond, mey agree that all funds earned by the Contractor in the performance of the Construc- tion Contract are dedicated to satisfy obligations of the Contractor and the Surety under this bond, subject to the Owner's priority to use the funds for the completion of the work. 9. The Surety shall not be liable to the Owner, Claimants or others for obligations of the Conhactor that are unrelated to the Construotion Contract. The Owner shall not be liable for payment of any costs or expenses of arty Claimant under this Bond, and shah have under this Bond no obligations to make payments to, give notices on behalf of: nr otherwise have otrli- gations to Claimants under this Bond. 10. The Surety hereby waives notice of any change, including changes of time, to the Construction Contract or to related sub- contracts, purchase orders and ether obligations. 11. No suit or action shall be commenced by a Claimant under this Bond other than in a court of competent jurisdiction in the location in whsch the work or part of the work is located or after the expiration of one year from the date (1) on which the Claimant gave the notice required by Subparagraph 4.1 or Clause 4.2 (c), or (2) on which the last labor or service was per- formed by anyone or the last materials or equipment were furnished by anyone under the Construction Contract, whichever of {1) or (2) first occurs. If the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense fn fire jurisdiction of the suit shall be applicable. 12. Notice to the Surety, the Owner or the Contractor Shelf be malted or delivered to the address shown on the signature page. Actual receipt of nafice by Surety, the Owner or the Cantractor, however accomplished, shall be sufficient compliance as of the date received at the address Shown an the signature page. 13. When this Bond has been furnished to comply with a statutory or other lega4 requirement in the location where the construc- tion was to be performed, any provision in this Bond conflicting with said statutory or legal requirement Shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirement shalE be deemed incorporated herein. The intent is, that this Bond shall be construed as a statutory bond and not as a common taw bond. 14. Upon request by any person or entity appearing to be a potential beneficiary of this Bond, the Contractor shall promptly furnish a copy of this Bond or shall permit a copy to made. 15. Definitions: 15.1 Claimant: An individual or entity having a direct contract with the Contractor or with a subcontractor of the Contras- . for to furnish labor, materials ar equipment for use in the performance of the Contract. The intent of this Bond shall tte to include without limitation in the terms "labor, materials or equipment' that part of water, gas power, light, heat, oil, gasoline, telephone service or rental equipment used in the Construction Contract, architectural and engineering services required for perfomtance of the work of the Contractor and the Contractor's subcontractors, and all other items for which a mechanic's lien may be asserted in the jurisdiction where the labor, materials or equipment were furnished. 15.2 Construction Contract: The agreement between the Owner and the Contractor identified on the sigrature page, including ail Contract Documents and changes thereto. 15.3 Owner Default: Failure of the Owner, which has neither beer remed+ed nor waived, to pay the Contractor as required by the Construction Contract or to perform and complete or comply with the other terms thereof. END OF SECTION CONSTRUCTION PAYMENT BOND 00620-2 20083.00 31 Jul 2007 {GH00620.DOC~