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Legacy Place 2-Performance & Payment Bond-Franklin ConstPERFORMANCE BOND Bond No.: GRARS1599 CONTRACTOR; (Name, legal status and address) Franklin Construction, line. 1440 South 28th, Van Buren, AR 72956 OWNER: (Name, legal status and address) Gaither Management Trust #6 Shenandoah Place, Richardson, TX 750804929 CONSTRUCTION CONTRACT Date: 6/3/2021 SURETY: (Name, legal status and principal place of us•iness) Granite Re, Inc. 14001 Quailbrook Drive, Oklahoma City, OK 73134 Amount: Fifteen Thousand Six Hundred Twenty-nine And 35/100 ($15,629.35) Description: (Name and location) Detention Pond and Sodding Improvements for Legacy Place Phase 2 BOND Date: 06/09/2021 Not earlier than Construction Contract Date) Amount: Fifteen Thousand Six Hundred Twenty-nine And 351100 ( $15,629.35) Modifications to this Bond: 0 None See Section 16 CMIT T@i>nAS+P$INCIPAL SURETY Comj�rny; ; dFrnlist Inc Lrc. Company: Granite Re, /nc. s :fib,{e`n1) (Corporate Seal) all Sigeture �' =o ' �� Signature: NaMand ., .•' >' c Name and Mild J, Rogers Title: 't-,, Title: An ad t'Ov. 0ignodfites a ear on the last a e o this Per• or mane Bond. (Any 0 PP P g f f' ) (FOR INFORMATION ONLY— Name, AGENT or BROKER: address and telephone) ORq RE' �`. o p [[tnnt�t` (Architect, Engineer § 1 The Contractor and Surety, jointly and severally,. bind themselves, their heirs, executors, administrators, successors and assigns to the Owner for the performance of the Construction Contract, which is incorporated herein by reference. § 2 If the Contractor performs the Construction Contract, the Surety and the Contractor shall have no obligation under this Bond, except when applicable to participate in a conference as provided in Section 3. The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition § 3 ]f there is no Owner Default under die Construction Contract, the Surety's obligation under this Bond shall arise after 1 the Owner first provides notice to the Contractor and the Surety that the Owner is considering declaring a Contractor Default. Such notice shall indicate whether the Owner is requesting a conference among the Owner, Contractor and Surety to discuss the Contractor's performance. If the Owner does not request a conference, the Surety may, within five (5) business days after receipt of the Owner's notice, request such a conference. If the Surety timely requests a conference, the Owner shall attend. Unless Tile Owner agrees otherwise, any conference requested under this Section 3.1 shall be held within fen (10) business days of the Surety's receipt of the Owner's notice. If the Owner, the Contractor and the Surety agree, the Contractor shall be allowed a reasonable time to perform the Construction Contract, but such an agreemcnt shall not waive the Owner's right, if any, subsequently to declare a Contractor Default; .2 the Owner declares a Contractor Default, terminates the Construction Contract and notifies the Surety; and .3 the Owner has agreed to pay the Balance of the Contract Price in accordance with the terms of the Construction Contract to the Surety or to a conlractor selected to perform the Construction Contract. § 4 Failure on the part of the Owner to comply with the notice requirement in Section 3.1 shall not constitute a failure to comply with a condition precedent to the Surety's obligations, or release the Surety from its obligations, except to the extent the Surety demonstrates actual prejudice. § 5 When the Owner has satisfied the conditions of Section 3, the Surety shall promptly and at the Surety's expense take one of the following actions: § 5.1 Arrange for the Contractor, with the consent of the Owner, to perform and complete the Construction Contract; § 5.2 Undertake to perform and complete the Construction Contract itself, through its agents or independent contractors; § 5.3 Obtain bids or negotiated proposals fiom qualified contractors acceptable to the Owner for a contract for performance and completion of the Construction Contract, arrange for a contract to be prepared for execution by the Owner and a contractor selected with the Owner's concurrence, to be secured with performance and payment bonds executed by a qualified surety equivalent to the bonds issued on the Construction Contract, and pay to the Owner the amount of damages as described in Section 7 in excess of the Balance of the Contract Price incurred by the Owner as a result of the Contractor Default; or § 5.4 Waive its right to perform and complete, arrange for completion, or obtain a new contractor and with reasonable promptness under the circtunstances: ,1 After investigation, determine the amount for which it may be liable to the Owner and, as soon as practicable after the amount is determined, make payment to the Owner; or .2 Deny liability in whole or in part and notify the Owner, citing the reasons for denial. § 6 If the Surety does not proceed as provided in Section 5 with reasonable promptness, the Surety shall be deemed to be in default on this Bond seven days after receipt of an additional written notice from the Owner to the Surety demanding that the Surety perform its obligations under this Bond, and the Owner shall be entitled to enforce any remedy available to the Owner. If the Surety proceeds as provided in Section 5.4, and the Owner refuses the payment or the Surety has denied liability, in whole or in part, without further notice the Owner shall be entitled to enforce any remedy available to the Owner. § 7 If the Surety elects to act under Section 5.1, 5.2 or 5.3, then the responsibilities of the Surety to the Owner shall not be greater than those of the Contractor under the Construction Contract, and the responsibilities of the Owner to the Surety shall not be greater than those of the Owner under the Construction Contract. Subject to the commitment by the Owner to pay the Balance of the Contract Price, the Surety is obligated, without duplication, for .1 the responsibilities of the Contractor for correction of defective work and completion of the Construction Contract; .2 additional legal, design professional and delay costs resulting from the Contractor's Default, and resulting from the actions or failure to act of the Surety under Section 5; and .3 liquidated damages, or if no liquidated damages are specified in the Construction Contract, actual damages caused by delayed performance or non-performance of the Contractor. § 8 If the Surety elects to act raider Section 5.1, 5.3 or 5.4, the Surety's liability is limited to the amount of this Bond. § 9 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 The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition right of action shall accrue on this Bond to any person or entity other than the Owner or its heirs, executors, administrators, successor and assigns. § 10 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. § 11 Any proceeding, legal of equitable, under this Bond may be instituted in any court of competent jurisdiction in the location in which the work or part of the work is located and shall be instituted within two years after a declaration of Contractor Default or within two years after the Contractor ceased working or within two years after the Surety rcfuses or fails to perform its obligations under this Bond, whichever occurs first. If the provisions of this paragraph are void of prohibited by law, the minimum period of limitation available to sm'eties as a defense in tile jilt isdiction of the suit shall be applicable. § 12 Notice to the Surety, the Owner or the Contractof shall be mailed or delivered to the address shown on the page on which heir signature appears. § 13 When this Bond has been fin'nished to comply with a statutory or other legal requirement in 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 conforming to such statutory of other legal requirement shall be deemed incorporated herein. When so tarnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. § 14 Definitions § 14.1 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 of 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. § 14.2 Construction Contract. The agreement between the Owner and Contractor identified on [he cover page, including all Contract Documents and changes made to the agreement and the Contract Documents. § 14.3 Contractor Default. Failure of the Contractor, which has not been remedied or waived, to perform of otherwise to comply with a material term of the Construction Contract. § 14A Owner Default. Failure of the Owner, which has not been remedied or waived, to pay the Contractor as required under the Construction Contract or to perform and complete or comply with the other material terms of the Construction Contact. § 14.5 Contract Documents. All the documents that comprise the agreement between the Owner and Contractor. § 15 If this Bond is issued for an agreement between a Contactor and subcontractor, the term Contractor in this Bond shall be deemed to be Subcontractor and the term Owner shalt be deemed to be Contractor. § 16 Modifications to this bond are as follows: (Space is provided belorov,for additiot�a/ signaPures of added parties, other• thaw /]rose appearitag ot� the cover page.) CONTRACTOR AS PRINCIPAL SURETY Company: (Corporate Seal) Company: (Corporate Seal) Signature: Name and Title: Signature: Name and Title: Address; Address: The Company executing this bond vouches that this docmnent conforms to American Institute of Architects Docmnent A312, 2010 edition PAYMENT BOND CONTRACTOR: (Natne, legal status and address) Franklin Construction, Inc. 1440 South 28th, Van Buren, AR 72956 OWNER: (Name, legal status and address) Gaither Management Trust #6 Shenandoah Place, Richardson, TX 750804929 SURETY: (Marne, legal status andprincipal place of business) Granite Re, Inc. 14001 Quailbrook Drive, Oklahoma City, OK 73134 CONSTRUCTION CONTRACT Date: 6/3/2021 Amount: Fifteen Thousand Six Hundred Twenty-nine And 35/100 ($15,629.35) Description: (Name and location) Detention Pond and Sodding Improvements for Legacy Place Phase 2 BOND Date: 06/09/2021 (Not earlier than Construction Contract Date) Amount: Fifteen Thousand Six Hundred TwenTy-nine And 35/100 ($15,629.35) Modifications to this Bond: 0 None See Section IS CONTRQG91QRiA8 PRINCIPAL SURETY ComQity: ,.t l in,anlyin Construction, /ac. Company: (CilrPO)wle Seal) - ;y t Signatw8;rn Signature: Name:pnd .•S °W " Name and Title:C, Title: (Any addi[Pona),srgltahires appear on the last page of this payment Bond) Granite Re,Lrc. ��ss \�EIRE•rriv, (CorporateSeal)) r Q.� Q � :e'er iwr,u�y Q: ' •.tNN ' (FOR INFORMATION ONLY— Name, address and telephone) AGENT or BROKER: OWNER'S REPRESENTATIVE: (Architect, Engineer or other party.) BXS Insurance Brixey Engineering & Land Surveying, Inc. P.O. Box 251510, P. O. Box 6180, Little Rock, AR 72225 Ft Smith, AR 72906 (501)664-7705 § 7 The Contractor and Surety, jointly and severally, bind themselves, their heirs, executors, adminishators, successors and assigns to the Owner to pay for labor, materials and equipment furnished for use in the performance of the Construction Contract, which is incorporated herein by reference, subject to the following terms. The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition § 2 If the Contactor promptly makes payment of all sums due to Claimants, and defends, indemnifies and holds hamrless the Owner from claims, demands, liens or suits by any person or entity seeking payment for labor, materials or equipment furnished for use in the performance of the Construction Contract, then the Surety and the Contractor shall have no obligation under this Bond. § 3 If there is no Owner Default under the Construction Contract, the Surety's obligation to the Owner under this Bond shall arise after the Owner has promptly notified the Contactor and the Surety (at the address described in Section 13) of claims, demands, liens or suits against the Owner or the Owner's property by any person or entity seeking payment for labor, materials or equipment furnished for use in the performance of the Construction Contract and tendered defense of such claims, demands, liens or suits to the Contractor and the Surety. § 4 When the Owner has satisfied the conditions in Section 3, the Sm'ety shall promptly and at the Surety's expense defend, indemnify and hold harmless the Owner against a duly tendered claim, demand, lien or suit. § 5 The Surety's obligations to a Claimant under this Bond shall arise after the following: § 5.1 Claimants, who do not have a direct contact with the Contractor, ,1 have furnished a written notice of non-payment to the Contractor, stating with substantial accuracy the amount claimed and the name of the party to whom the materials were, or equipment was, furnished or supplied or for whom the labor was done or performed, within ninety (90) days after having last performed labor or last furnished materials or equipment included in the Claim; and 2 have seat a Claim to the Surety (at the address described in Section 13). § 5.2 Claimants, who are employed by or have a direct contract with the Contractor, have sent a Claim to the Surety (at the address described in Section 13). § 6 If a notice of non-payment required by Section 5.1.1 is given by the Owner to the Contractor, that is sufficient to satisfy a Claimant's obligation to furnish a written notice of non-payment under Section 5.1.1. § 7 When a Claimant has satisfied the conditions of Sections 5,1 or 5.2, whichever is applicable, the Surety shall promptly and at the Surety's expense take the following actions: § 7.1 Send an answer to the Claimant, with a copy to the Owner, within sixty (60) days after receipt of tree Claim, stating the amounts that are undisputed and the basis for challenging any amounts that are disputed; and § 7.2 Pay or arrange for payment of any undisputed amounts. § 7.3 The Surety's failure to discharge its obligations under Section 7.1 or Section 7.2 shall not be deemed to constitute a waiver of defenses the Surety or Contractor may have or acquire as to a Claim, except as to undisputed amounts for which the Surety and Claimant have reached agreement. If, however, the Surety fails to discharge its obligations under Section T l or Section 7.2, the Surety shall indemnify the Claimant for the reasonable attorney's fees the Claimant incurs thereafter to recover any sums found to be due and owing to the Claimant. § 8 The Surety's total obligation shall not exceed the amount of this Bond, plus the amount of reasonable attorney's fees provided under Section 7.3, and the amount of this Bond shall be credited for any payments made in good faith by the Surety. § 9 Amounts owed by the Owner to the Contractor under the Construction Contract shall be used for the performance of the Construction Contract and to satisfy claims, if any, under any construction performance bond. By the Contractor furnishing and the Owner accepting this Bond, they agree that all funds earned by the Contractor in the performance of the Construction Contract are dedicated to satisfy obligations of the Contractor and Surety under this Bond, subject to the Owner's priority to use the fiords for the completion of the work. § 10 The Surety shall not be liable to the Owner, Claimants or others for obligations of the Contractor that are unrelated to the Construction Contract, The Owner shall not be liable for the payment of any costs or expenses of any Claimant under this Bond, and shall have under this Bond no obligation to make payments to, or give notice on behalf of, Claimants or otherwise have any obligations to Claimants under this Bond. The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition § 11 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. § 12 No suit or action shall be commenced by a Claimant under this Bond other than in a court of competentjw'isdiction in the state in which the project that is the subject of the Construction Contract is located or after the expiration of one year from the date (1) on which the Claimant sent a Claim to the Surety pursuant to Section 5.1.2 or 5.2, or (2) on which the last labor or service was performed by anyone or the last materials or equipment were furnished by anyone under the Construction Contract., whichever of (1) or (2) first occurs. if the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense in thejurisdiction ofthe suit shaft be applicable. § 13 Notice and Claims to the Surety, the Owner or the Contractor shall be mailed or delivered to the address shown on the page Oil which their signature appears. Actual receipt of notice or Claims, however accomplished, shall be sufficient compliance as of the date received. §14 When this Bond has been furnished to comply with a statutory or other legal requirement in 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 conforming to such statutory or other legal requirement shall be deemed incorporated herein. When so furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. § 15 Upon request by any person or entity appearing to be a potential beneficiary of this Bond, the Contractor and Owner shall promptly furnish a copy of this Bond or shall permit a copy to be made. § 16 Definitions § 16.1 Claim. A written statement by the Claimant including at a minimum: .1 the name of the Claimant .2 the name of the person for whom the labor was done, or materials or equipment furnished; .3 a copy of the agreement or purchase order pursuant to which labor, materials or equipment was furnished for use in the performance of the Construction Contract; ,4 a brief description of the labor, materials or equipment furnished; .5 the date on which the Claimant last performed labor or last furnished materials or equipment for use in the performance of the Construction Contract; .6 the total amount earned by the Claimant for labor, materials or equipment furnished as of the date of the Claim; .7 the total amount of previous payments received by the Claimant; and .6 the total amount due and unpaid to the Claimant for labor, materials or equipment furnished as of the date of the Claim. § 16.2 Claimant. An individual or entity having a direct contract with the Contractor or with a subcontractor of the Contractor to burnish labor, materials or equipment for use in the performance of the Construction Contract. The term Claimant also includes any individual or entity that has rightfully asserted a claim under an applicable mechanic's lien or similar statute against the real property upon which the Project is located. The intent of this Bond shall be to include without limitation in the terms `labor, materials or equipment" that part of water, gas, power, light, heat, oil, gasoline, telephone service or rental equipment used in the Construction Contract, architectural and engineering services required for performance of the work of the Contractor and the Contractor's subcontractors, and all other items for which a mechanic's lien may be asserted in the jurisdiction where the labor, materials or equipment were furnished. § 16.3 Construction Contract. The agreement between the Owner and Contractor identified on the cover page, including all Contract Documents and all changes made to the agreement and the Contract Documents. § 16.4 Owner Default. Failure of the Owner, which has not been remedied or waived, to pay the Contractor as required under the Construction Contract or to perform and complete or comply with the other material terms of the Construction Contract. § 16.5 Contract Documents. All the documents that comprise the agreement between the Owner and Contractor. § 17 If this Bond is issued for an agreement between a Contractor and subcontractor, the term Contractor in this Bond shall be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor. The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition § 18 Modifications to this bond are as follows: (Space is provided helow for additional signzalures ojaaaca pardies, oche than laose appeal hsg 0;7 fhe cover page.) CONTRACTOR AS PRINCIPAL SURETY Company: (Corporate Seal) Company: (Corporate Seal) Signahne: Name and Title: Address: Signature: Name and Title: Address: The Company executing this bond vouches that this document conforms to American Institute of Architects Document A312, 2010 edition GRANITE RE, INC. GENERAL POWER OF ATTORNEY Know all Men by these Presents: That GRANITE RE, INC., a corporation organized and existing under the laws of the State of MINNESOTA and having Its principal office at the City of OKLAHOMA CITY in the State of OKLAHOMA does hereby constitute and appoint: KEVIN M. BRUICK; MIKE HALTER; SYLVIA A. YOUNG; CAROLYN HUNTER; SHERESE ESCOVEDO; JEAN L. GRAMLING; BRIAN A. BOYD; JODY LENSING; J. ALAN ROGERS; MIKI J. ROGERS; SHANA MEYER; LANDON FISHER its true and lawful Attorney-in-Fact(s) for the following purposes, to wit: To sign its name as surety to, and [o execute, seal and acknowledge any and all bonds, and to respectively do and perform any and all acts and things set forth in the resolution of the Board of Directors of the said GRANITE RE, INC. a certified copy of which is hereto annexed and made a part of this Power of Attorney; and the said GRANITE RE, INC. through us, Its Board of Directors, hereby ratifies and confirms all and whatsoever the said: KEVIN M. BRUICI(; MIKE HALTER; SYLVIA A. YOUNG; CAROLYN HUNTER; SHERESE ESCOVEDO; JEAN L. GRAMLING; BRIAN A. BOYD; JODY LENSING; J. ALAN ROGERS: MIKI J. ROGERS; SHANA MEYER; LANDON FISHER may lawfully do In the premises by virtue of these presents. In Witness Whereof, the said GRANITE RE, INC. has caused this Instrument to be sealed with its corporate seal, duly attested by the signatures of Its President and Assistant Secretary, this 3rd day of January, 2020. �Ewr oS.E, A L Kenneth D. Whittin ton, President STATE OF OKLAHOMA SS: �Kl COUNTY OF OKLAHOMA ) Ky� McDonald, Assistant Secretary On this 3a day of January, 2020, before me personally came Kenneth D. Whittington, President of the GRANITE RE, INC. Company and Kyle P. McDonald, Assistant Secretary of said Company, with both ofwhom I am personally acquainted, who being by me severally duly sworn, said, that they, the said Kenneth D. Whittington and Kyle P. McDonald were respectively the President and the Assistant Secretary of GRANITE RE, INC., the corporation described in and which executed the foregoing Power of Attorney; that they each knew the seal of said corporation; that the seal affixed to said Power of Attorney was such corporate seal, that it was so fixed by order of the Board of Directors of said corporation, and that they signed their name thereto by like order as President and Assistant Secretary, respectively, of the Company. My Commission Expires: °.a",s�^+�F�' April 21, 2023 ' mi..'�6i0 •o, Commission #: 11003620'-,",°r;i'r^` III `I 1 i i i GRANITE RE, INC. Certificate THE UNDERSIGNED, being the duly elected and acting Assistant Secretary of Granite Re, Inc., a Minnesota Corporation, HEREBY CERTIFIES that the following resolution is a true and correct excerpt from the July 151 1987, minutes of the meeting of the Board of Directors of Granite Re, Inc. and that said Power of Attorney has not been revoked and is now In full force and effect. "RESOLVED, that the President, any Vice President, the Assistant Secretary, and any Assistant Vice President shall each have authority to appoint individuals as attorneys -in -fact or under other appropriate titles with authority to execute on behalf of [he company fidelity and surety bonds and oche undertaking of the however. that the s� IN yjITNESS WHE F, the �7 day of r docume t5 of similar character issued by the Company In the course of Its business. On any instrument making or tl �l ll�/� %al's�1S11•totU t��d2ssary fe the validity of any such instrument or undertaking:" �derjlg 0 scr)bed_ihis Certificate and affixed the corporate seal of the Corporation this 07 O 6 �.".. p� • .ewE /No /i SEAL '/yrrrl I t I I Ittvvx� Kyle P. McDonald, Assistant Secretary GR0800-1