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6.2 Additional legal, design professional and delay costs resulting from the Contractor's default, and resulting fro.m the actions or failing to act of the Surety under paragraph 4; and 6.3 Liquidated damages, or if no liquidated damages are specified in the Construction Contract, actual damages caused by delayed perfonnance or non-perfonnance of the Contractor, . 7 The Surety shall not be liable 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 its heirs, executors, administrators or successors. 8 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 be instituted in any court of competent jurisdiction in which the work or part of the work is located and shall 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 perfonn 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 shall be applicable, 10 Notice to the Surety, the Owner or the Contractor shall be mailed or delivered to the address shown on the signature page. II When this Bond has been furnished to comply with a statutory or other legal requirement in the location where the MODIFICATIONS TO TIDS BOND ARE AS FOLLOWS: construction was to be perfonned, any proVISion in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions confonning to such statutory or other legal requirement shall be deemed incorporated herein, The intent is that this Bond shall be construed as a statutory bond and not as a common- law bond. 12 DEFINITIONS 12,1 The Balance of the Contract Price: The total amount payable by the Owner to the Contractor under the Construction Contract after all proper adjustments have 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 Contract: The 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 or waived, to perfonn or to otherwise to comply with the tenns of the Construction Contract. 12.4 Owner Default: Failure of the Owner, which has neither been remedied or waived, to pay the Contractor as required by the Construction Contract or to perfonn and complete or comply with the other tenns thereof. (Space is provided below for additional signatures of added parties, other than those appearing on the cover page,) CONTRACTOR AS PRINCIPAL Charlie & Sons Electric, Inc. Signature: ~ Name and Title: SURETY Corporate Seed Signature: Name and Title: stf>phen M. :John~()n, Pr~!';; r'l~nr . R .1Qm~~ I j skat l'ttarn€,y in Fart AlA DOCUMENT A31Z, PERFORMANCE BOND AND PAYMENT BOND. DECEMBER 1984 EDITION. AlA@ THE AMERICAN INSTITUTE OF ARClllTECTS, 1735 NEW YORK A VB., N.W., W ASHlNGTON. D.C. 20006 A312-1984 3 TIURD PRINTING, MARCH 1987 8-4149 (7/99)