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Home My WebLink About1575 ~ L_- ~9iiQ0 , ~ ; • A~;reen~eu; . '~t iud~~mntty e;~' 1 Tttts Actca~~et~rr oi lndemnity, made and entcrcJ into this ......................6~.,.._..............................,..........day oi ' 2......,A~tiA.L 19. b4. by..---k~R..~e•...ri.St~.41t?fV41s.. d~1~4...~r.4~Q~?An Const~4~o?}....... 1 • u.Krt rau ...e .oa .aarer ot cupu.a«) 3,.,... Ccx~paqX~„Pt., 0,t., Box ,320,,., Monroe~,_ I,oui~ti;s~n~ .(hereina[ter cal(cci tlie Contractor) and 4---..H~...L...Colemen~..Jr.,,. Betty_ C. ColrmAn and,.Waltcr B. Harv~r . ~cioaeri iru osmce:od sdJ~«u. a( imka?nli«.. u ae,i ......................._....._---...M............._..~......---.._..........................(hcrein~[tec callcd the Iilcl~i~~i~o~s.~ ~ any) and . \ • ~ • ~ ~ 6 F1D8~1TY AND D6t`OSIT COWPANY OF ~TARY~AND~ ~idelity I3uilding, Charles and I.exiriQton Stf~~ts~ I3altimOre, 7 Maryland 21203~ its successors and assigns (bereiuafter c;.ill~i Surety)~ ~?~'l '~7. F~~ 1s On~ yL~'; -w„~ . WITNESSETI[: ~'y QY f"" , 8 Wasit~?s, the Contractor, in the per[orm~nce o( contracts and the fu161tme~t of o~a#iolte ~el~a~il~~j~',~w~cthet 9 in its own name sotety oc ua oo-adventurtr with othera. may desire, or !x required to grv~pr proc~c~a~n,gurety !0 bonds~ undertakings or instruments of guarantee, and to rcnew, or oontinue or snbstituteYhe`~1me fron ime..tQYime; / 11 or new bonds. un~lertakings oc instruments of guarantee with thc same or diRerent pcoaltie~~a~a~or rnn ~tions. may [ 12 be desired or required, in nnewat. continuation. extcnsion or suf~stitution thereof; any one,~3r1~`~i~:o~;which are f 13 hereinaiter c~tled Doads; oc the Contcactor or Indemnitors may request th~ Surety to refrain'from ~Cauicelling said 14 Bonds; and 15 Wes[ts~s. at the request oI the Contractor and the Indemnitors and upon the exp~rc~ undefstaading that this 16 Agreement of Indemiiity be given. the Su~ety I~as executecl or procured to be executed. and may trom tirae to time . 17 be~eafter execute ar procure to be executed~ said Bonds on befiatf ot the Contractor; and 18 Wsstesss~ the Indemnitors have a substantial~ material and beneficiat interest in the obtaining of the Bonds 19 or in the Surety's refraiaing Irom canceUing said Bonds. 20 Now. T~xxxFORS. in oonsideration of the premises the Contractor and Indemnitors for themselves~ their heirs. 21 e:ecutors~ administrators, suocessors and assigas, ~ointly and sevecally. hereby covenant and agree with the Surety. 22 as fdlows: , - - - - ------------I!IL~11IU1~iS--- - 23 ~xst: The Contractor and Indemnitors will - - - - - - - - - - pay to the Surety in sucE~ manner as may be agreed upon att prtmi- 24 ums and charges oi the Surety for the Bonds in accordartee with its cate f~lings. its manual of rates. or as otherwisc 25 agreed upoa, until the Cantractor or Indemnitors shall serve evidence satisfactory to t6e Surcty ot its discharge oc 26 sele~ irom the Bonds and all liability by reasoa thereof. ~ i _ _ • ' _ Il!1_~?F111NI'~X-- 27 SieoortD:'I'he Contractor and Indemnitors shall exonerate~ incIemni[y~ and keep iademnified the Surety lrom and 28 against any and all liabiGty for losscs and/or expenses of whatsoever kind or nature (including~ but not Gmitcd to. 29 interest. vourt costs and counsel iees) and (rom a~d against any and all such losses and/or expenses which the Surety 30 ma?y sustaia and incur: (1) By reason ot having executed or procurod the execution of the Bonds. (2j By r~eason of 31 the failure of the Contractor oc Tndemnitors to pertorm or comply a ith the oovenants and oonditions oi this Agree- 32 ment or (3) ~In enforcing any of the c~avenants and conditions oi this Agreement. Payment by reason oE the aforesaid 33 causes shall be made to the Surety by the Contractor and Indemnitors as soon as liabiGty exists or is asserted against 34 the Surety, whether or not the Surety shaU have made any payment therefor. Such papment shall be cqual to the 35 amount of the reserve set by the Surety. In the event of any p~ayment by tbe Surety the Contractor and Indemnitors 36 f~rther agree that in an~+ acooundng between the Surety and the'Convactar, or between the Surety and the Indemni- 37 tors, or eatha or both ot them. the Surety shall be entided to charge for any and all disbursements macie by it in good 38 laith in and about the matters herein oontemptated by this Agreement under the beliet that it is or was liabl~e for the 39 sums and amouacs so disbursed, or ihat it was nacessary or expedient to make such disbursemenRs. whether or not 40 such liabilit~, nece.ssity or expediency existed; and that the vouchers or other evidenct of any such payments made ~i by the Surety shail be prima facu ev~dence of the tact and amount oi the liabitity to the Surety. ~ - . _ AS$IGN111ENT _ - - ~ 42 - Tstjtu: Tbe Contractor. the Indemnitora hereby consenting, will assign. trans[er and set over, and doea hereby 43 assign. transfer and set over w the Surety~ SI! l.'+UIIdI@f'dI, to secure the ubligations in any and all of the paragraphs 44 of this Agnxrnrnt and any other inJeb~cJness and li.~bilities o[ the Contrartor to the Surety. whether dereto[ore or 45 hereafter incurred. the assignment in N~e case uf each ~-ontr.~ct to berome eRective as of the daie of the bond oovering 4b - of (1 ` anv abanclonmrnt, tor(eiture or br~ch ot any oontracts re[errtd to in the 47 13onds or o[ ~ry breach of any said i3o~Kls: or t2 anj-Tireac o t e prov~~ons ~ af-tt[e-paragra ' 48 Agreement; or (3) ot a default in discharging such othrrindrbteclness or liat~tities when due; or (4j of any assignment ~ 49 by the Convactor for the benefit oE creditors. or of the appoin~ment, ~ of any application !or the appointraeat, of a SO reeeiver or trustee tor the Contractor K~hether insolvent or not: or (S) of any proceed~ng which deprives the Contractoc Sl o! the use oi any of the machinery~ equipment, plant. toals or material reiecred to in section (b) ot this paragraph; or 52 (6) ot the Contractor's dying~ absconding. disappeariag, incomNecenc~•. being convicted of a felony~ or imprisoned if 53 the Contractor be an individuat: (a) Att the rights of the Contractor ~n. and growing in any manner out o[. all wn- 54 tracts referred to in the I3onds, or. in, or growing in am• manner but of the [3onds: tb) All the rights, titte and interest SS ot the Contractor in and to ali machinery, eyuipment. plant, touls and materials which are now. or may heteafter be, 56 about or upon the site or sites o[ any and all of the contractual work referred to in the Bonds or elseu•here. including 57 materiats purchased ior or chargeable to any and a!1 contracts referred to in the bonds, matuials which may be in S8 pracess of consiruction. in storage elsewhere. ar in transporwtion to any ancl all of said sites; (c) Alt the righta, title 59 and ~nterest oE the Co~tractor ~n and to al1 subcontracts let or-to be let in connection with any and all oontracts 60 aferred to in the I3onds. arxf in and to aQ surety boncls supporting such subcontracts; (d) A!1 actions. cauaae of actions. 61 claims and demands whatsocwer which the Contractor may have or ac uire against any subcontractor. laborer or 62 materialman, or any person furnishing or agreeing w Ewnish or suppl ~eAiQ~j~1i . machinery, tools ~ 63 or othee equipment in connection ~aith or on account ot any aud all contra i~', ,qc~.ls; and aga~nst an 64 surety or sureties of any subcontractor, Iaborer. ar matrriatn~n; (e) A 1, rc+~c r aigetl,au~!'any and 5S ail sums that may be due or her~fter become due on accowit oi any and ~ 66 othex contracts whether bo~xfed or not in which che Contractor has an ' :~,F~~~ ~~II . , : ~~M~ . ~r o~ ~ 4, ~ c~s~--sox. tus~t _ _ ~ ~ . lAl1~j1~ . t_ , _ Q ~ _ ~:i ~ . a~i ~i~74 - - ~ - ! 61 ` ; ~ . f ~ r ~ . - . . _D. - - _ - ~ , ~ ;Y~_, . ~ ~ ~ ~