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Surety shall not utilize the Principal in completing the Agreement nor shall Surety accept a bid from the <br />Principal for completion of the Work if the City; when declaring the Principal in default, notifies Surety of the City's <br />objection to the Principal's further participation in the completion of the Work <br />No right of action shall accrue on the bond to or for the use of any person or corporation other than the City <br />named herein or the successors or assigns of the City Any suit under this bond must be instituted within the <br />applicable statute of limitations period <br />The said Surety, for value received, hereby stipulates and agrees that no change, extension of time, <br />alteration or addition to the terms of the agreement or to the work to be performed thereunder or the Specifications <br />accompanying the same shall in any way affect its obligations on this bond, and it does hereby waive notice of any <br />such change, extension of time, alteration or addition to the terms of the agreement or to the work or to the <br />specifications <br />No final settlement between the City and the Principal shall abridge the right of any beneficiary hereunder <br />whose claim may be unsatisfied <br />The Principal and Surety agree that if the City is required to engage the services of any attorney in <br />connection with the enforcement of this bond, each shall pay the City's reasonable attorneys' fees incurred, with or <br />without suit, in addition to the above sum <br />The Surety hereby stipulates and agrees that no change, extension of time alteration or addition to the <br />terms of the Agreement or to the Work to be performed thereunder or the specifications accompanying the same <br />shall in any way affect its obligations on this bond, and it does hereby waive notice of any such change, extension of <br />time, alteration or addition to the terms of the agreement or to the work or to the specifications <br />In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on <br />2018 <br />(SEAL) <br />HFNKELS � McCOY, INC <br />=rL)U. V-1111.1111lu <br />//O <br />Treasurer <br />(Sea] and Notarial Acknowledgement of Surety) <br />CD -5 <br />QOL05242018KG — State Street Trench/ConduA Installation Project <br />(SEAL) <br />Liberty Mutual Insurance Company <br />Surety) <br />BY �,�.e�.•t.� . <br />Drew W Garis Atty-in-Fact(Signature) <br />Address. 2200 Renaissance Blvd Suite 400 <br />King of Prussia, PA 19406 <br />Telephone ( 610 ) 724-1319 <br />