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8 Amounts owed by the Owner to the Contractor under the Construclion Contract shall be used for the performance of the Construction Contract and to satisfy claims, if any, under any Construcrion Performance Bond. By lhe Contractor furnishing and the Owner accepting this Bond, they agree that all Studs earned by the Contractor in the performance of the Construction Contract are dedicated to satisfy obfigations of tbe Contractor and file Surely under this Bond, subject to the Owner's priority to use the funds for lhe complelion of the work. Tfie Surety shall not be liable to lbe Owner, Claimants or others for obligations of the Contractor that are unrelated to lhe Construclion Contract. The Owner shall not be liable for payment of any costs or expends of any Clai~nant under this Bond, and shall have under this Bond no obligations to make payments to, give notices on behalf of, or otherwise have obligations to Claimants under this Bond. 10 The Surety hereby waives notice of any change, including changes of thne, to the Construction Contract or to related subcontracts, pnrcbese orders and olher obligations. 11 No suit or action shall be commenced by a Claimant under lhis Bond other than in a court of competent jurisdiction in the location in which the work or part of the work is lo~ated or after the expiralion of one year from the date 0) on which the Claimant gave the notice required by Subparagraph 4,1 or Clause 4.2,3, or (2) on which the last labor or sercice was performed by anyone or the last materials or equipment were furnished by anyone under the Construclion Contract, whichever of (t) or (2) first occurs. If the provisions of lhis Paragraph are void or prohibited by Iaw, the minimum period of limitaBon available to sureties as a defense in the jurisdiction of the suit shall be applicable. ]g Notice to the Surety, the Owner or the Contractor shall be mailed or delivered to the address shown on the signature page. Actual receipt of notice by Surety, the Owner or the Contractor, however accomplished, shall be sufficient compliance as of the date received at the address shown on the signature page. 13 When this Bond has been furnished to comply with a statutory or other legal requirement iix the location where the construction was to be performed, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions confornring to such statutory or other legal requirement shall be deelncd incorporated herein. The h~tent is that this Bond shall be construed as a statutory bond and not as a common law 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 be 1nude. 15 DEFINITIONS 15.1 Clakmant: An individual or enthy having a direct contract with the Contractor or with a subcontractor ogthe Contraclor to furnish labor, materials or equipment for use architectural and engineering services required for 15.2 Construction Contract: The agreement beLween the Owner and the Contractor identified on the signature page, including all Contract Documents and changes thereto. 1S.g Owner Debault: Failure of the Owner, which has neither been remedied nor waived, to pay the Conlractor as required by the Construction Contract or to perform and complete or comply with the other terms thereog MODIFICATIONS TO THIS BOND ARE AS FOLLOWS: (Space is provided below for additional signatures of added pardes, other than those appearing on the cover page.) Signatur . / , Name ~ltle: ~~ Signature: /,~- / Name and Title: Addr~ ~/~ - Address: (Corporate Seal)