Common use of Liens; Bonds Clause in Contracts

Liens; Bonds. 42.1 The Contractor, for itself, its Subcontractors and all other persons performing under the Agreement hereby waives, to the full extent permitted by law, all right to have filed or maintained any mechanics’ or other liens or claims for or on account of the services, labor or materials to be furnished under the Agreement. The Contractor shall pay punctually for all labor, equipment and materials and all liabilities incurred by it in performance of the Agreement, and when requested shall furnish the Company with satisfactory evidence of such payment. 42.2 The Contractor shall (1) indemnify and save harmless the Company and its Affiliates and their officers, directors, employees, agents, servants, and assigns from all laborers’, materialmen’s, and mechanics’ liens upon the real property upon which the Work is located arising out of the Services, equipment and materials furnished by the Contractor and its Subcontractors in connection with the Emergency Work, and (2) to the full extent permitted by law, keep such property free and clear of all liens, claims, and encumbrances arising from the performance of the Agreement by the Contractor and Subcontractors. 42.3 The Contractor shall give the Company 20 Days written notice prior to filing a lien on the property and shall use all reasonable efforts to give the Company 20 Days written notice prior to a Subcontractor filing a lien on the property. 42.4 If the Contractor places a lien on the Company’s or its Affiliates’ property or fails to provide a bond and subsequently discharge a Subcontractor lien, the Company shall have the right to bond such lien or take other similar action to discharge the lien and withhold payment therefore from the Contractor as set forth in Section 10.1. The Contractor shall be liable to the Company for all costs and legal expenses incurred by the Company in bonding or discharging such liens. 42.5 If the Company does not require a xxxx xxxx under Section 42.6 and if a lien is placed on the property by any Subcontractor, the Contractor shall within 48 hours, or such other time as agreed to by the Company, post a bond covering the lien and shall discharge the lien within 30 Days. 42.6 Within 15 Days of signing the Agreement, the Contractor shall, at the Company’s option, provide the Company with an executed copy of each a Payment Bond, a Performance Bond and a Xxxx Xxxx for the Work in the amount of the Contract Price covering the payment of, and performance of all obligations arising under the Agreement and to keep the Company’s property clear of any encumbrances relating to the Agreement. The Company may require additional bonds if the value of the Agreement, in the Company’s opinion, is appreciably increased. 42.7 The Payment Bond and the Performance Bond form shall be AIA Document A312, as published most recently published by the American Institute of Architects, except that the definition of claimant found in the Payment Bond, shall be modified to include all persons or entities, of any tier, having a direct contract with the Contractor or with a Subcontractor (including suppliers), of any tier, to furnish labor, materials or equipment for use in the performance of the Agreement. All other parts of the definition of claimant shall remain unmodified. The Xxxx Xxxx shall be on the form as set forth in the Agreement. 42.8 The Contractor shall furnish a copy of the Payment Bond to all Subcontractors (including suppliers) with whom it has a contract to furnish labor, equipment or materials for use in the performance of the Agreement, and shall require that all Subcontractors, of any tier, supply copies of the Payment Bond to their Subcontractors (including suppliers). 42.9 The cost for the Payment Bond, Performance Bond, and Xxxx Xxxxx are included in the prices referenced in the Agreement or Purchase Order.