03/18/1930 Board of Public Works Minutes

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M Tuesday, Ylarch ISth. , 1930. be void otherwise in full force and effect suhject to the followings express conditions performance of each of which shall be a cohdition precedent to -recovery hereunder: i! (I) That the obligee shall keep, do and perform. .each and everyV all singularly, the matters and things set forth and specified in said contract to be kept' done and performed at the times and in the manner provided in said contract; (2) That if the principal shall during the period of this surety- ship abandon said contract or for any cease cease operation thereunder for the. perform nee thereof , or shall be declared in default under t?le terms of said contract, the Surety shall have the right at its option to carryon the contract during the period of this bond or to sublet the carrying on thereof curing such period and If: the, surety: elect to ca-rnr on or sublet the carrying on of said contract, all moneys due or to become ,due under said contract during the period cf said bond shall, as the same be come due and payable under the terms of said contract, be paid to the surety, -regard- less of any assignment or transfer thereof by the principal, and the surety shall be entitlee- to said money or payments which have accrued or may accrue during the period of said bond in perference to any assignee or any other adverse claimand thereof; but if the obligee carry on or relet the carrying on cf said contract during. the, per iod of this bond after the Surety has elected to not berry of or sublet the carrying on ' d.uring the period of this bond. all funds which would have been payable to the principal if the principal had du-1y performed said contract, shall be credited upon an-7 claim against the surety and no forfeiture provided in said contract against said principal shall be operative against the surety; (3) That the @blf-ge thall notify the surety by telegram or regis tered letter addressed end sent to it at .its feed Office in Ot. Louis, of any breach of said contrr et within a reasonable time and in any event not later than thirty (30) days after such breach shall have come to the knowledge of the obligee, their agents-. or representatives; (4) That no claim, suit or action by reason of any alleged de- fault in the performance of said. contract or any alleged breach thereof shall be brought against the principal or surety after ninety rays after the expiration of this bond, to wit, December 31s-t., 1930, not shall recovery be had for damages accruing after the date of said expiration; that service of grit cr process commencing any such suit or action shall be made on or before ninety days after the expiration of said bond; that principal shall be made a party to any suit or action and. be served with process commencing the same if the principal can with reasonable diligence be found; that no judgement shall be rendered against the surety in excess of -file penalty of thi; instrument or for any amount other than the pecuniary damage actually sustained by the obligee; (5) That the surety shall not be liable for any damages resulting from strikes or labor difficulties or from mobs, riots, civil commotion, fire, the elements ormacts of Cod, or for property damage, by any such causes; not for damages from injury to person or for the death of any one; nor by virture of any statutory provision for damages or compensation for injury to or for the death of any employee; (6) That no right of act ion shall accrue on or by reason hereof to or for the use or benefit of any one other than the obligee herein named; (7) That this obligat&on is afid shall be construed as one of suretryship only; shall be executed by the principal before delivery, and shall not nor shall any interest herein or right of action hereon be assigned without prior consent in writing drf the Surety. This bond shall be come effective as of the date of said contract hereinbefore referred to, and shall terminate as of midnight December 31st. , 1930. This bond may be renewed -for the succeeding year or years set out in said contract hetween principal and obligee l-ereinbefore referred to upon mutual agreement between the principal, surety and obligee. In the event of renewal, such renewal shall not be construed as an additional obligation but merely as a c ontnnuation of the original bond. Witness our hands and seals this I3th. , -dam of lurch 1930, 0. M. Ray 9 lout h ern Surety Company of Near York By D. Sherman Ellison A owed by Board of Works Miar ch 18 th . , 193 0 E . Doran John K. Smogor Ralph H. Kuss." • • 0 • 0