1123.05 BOND FOR FAITHFUL PERFORMANCE OF AGREEMENT.

   KNOW ALL MEN BY THESE PRESENTS:

   That we                                          as Principal and                               as surety, are held and firmly bound unto the City of Eastlake, County of Lake, and State of Ohio, in the just and full sum of                         ($              ) Dollars, for the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors and assigns jointly and severally, firmly by these presents.

   The condition of the foregoing obligation is such that

   WHEREAS, said Principal will make the following improvements. All public improvements and other work as set forth to be done and performed in accordance with the plans, specifications and provisions of the agreement executed between said Principal and the Council of the City of Eastlake, for the development and improvement in (Name of Subdivision) Plat stated in Section                 , Town                    , Range                  , Lot                  , Tract                    , Eastlake, Ohio.

   NOW, THEREFORE, if the above bonded Principal shall fully and faithfully perform all work specified to be done and performed by the agreement executed between the Principal of this Bond and the Council, of the City of Eastlake, and within the time prescribed, and in accordance with the plans, specifications and provisions therefor, to which reference is here made, the same being a part thereof, as if fully incorporated herein; then this obligation shall be void upon the delivery to the Principal of a statement signed by the Director of Public Service, of the completion to the satisfaction of the Director of Public Service; otherwise to remain in full force and effect in law; it being expressly understood and agreed that the liability of the surety for any or all claims hereunder, shall in no event exceed the penal amount of this obligation as herein stated.

   The said Surety hereby stipulates and agrees that no modifications, omissions or additions, in or to the terms of said agreement, or in or to the plans or specifications therefor, or any extension of time, shall in any wise effect the obligations of said Surety on its bond.

 

WITNESS OUR HANDS THIS             day of                         19          .                     PRINCIPAL                                                                                                                                               SURETY                     BY                                           (Ord. 1955-5. Passed 3-1-55.)