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 the Surety under this Bond, subject to the Owner's priority to the funds for the completion of the work.
Appears in 6 contracts
Samples: Unit Price Contract, Contract for Services, Unit Price Demolition Services Contract
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 the Surety under this Bond, subject to the Owner's ’s priority to use the funds for the completion of the work.
Appears in 1 contract
Samples: Lump Sum Design Build Expansion Agreement (Little Sioux Corn Processors LLC)
