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<br />NORTHAMERICAN SURETIES
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<br />PAYMENT BOND
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<br />GUARANTEE NO: AN0573-TER163/02
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<br />KNOW ALL MEN BY THESE PRESENTS that we, Bioway CA II, LLC, with our legal
<br />residence at Marlton, NJ 08053, as Principal and, Northamerican Sureties, Ltd., Reno,
<br />Nevada 89501, a corporation organized under the laws of the State of Nevada, as
<br />Surety, are held and firmly bound unto the City of San Marcos, a Municipality
<br />Corporation, in the sum of USD 899,812.61 (United States Dollars Eight Hundred,
<br />Nlnety- Nine Thousand, Eight Hundred, Twelve Dollars and Sixty-One Cents), lawful
<br />money of the United States, for which, payment well and truly to be made, we bind
<br />ourselves, Jointly and severally, firmly by these presents.
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<br />THE CONDITION of the foregoing obligation is limited by the terms and conditions of
<br />that certain Agreement entered Into by the Principal with said Obligee, as attached
<br />hereto, and identified as the
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<br />HIGH TECHNOLOGY ODOR CONTROL EQUIPMENT PROCUREMENT AND INSTALLATION
<br />AGREEMENT, EXECUTED MARCH 9, 2005,
<br />and
<br />ATTACHMENT C, AUTHORISATION OF CHANGE IN SERVICES,
<br />ApPROVED BY THE CITY SEPTEMBER 13,2005
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<br />to do and perform as stated therein, with the following conditions, (i) extension of
<br />time for delivery of equipment on all sites has been granted until December 29,2005,
<br />(ii) payments by Surety on this bond will only occur at time of maturity, which is March
<br />3, 2006, (iii) Bioway agreed to give the City an affidaVit on or before the 30th day after
<br />Bloway's erection and connection of the EqUipment to confirm that all of Bioway's
<br />suppliers used for the execution of this contract have been paid in full, (iv) the City
<br />agreed to release this payment bond to Surety on the 30th day after Bloway's delivery
<br />of the aforementioned affidavit or on March 4, 2006 latest, and (v) this bond does not
<br />cover (a) Section 1.4 of the aforementioned Agreement, "Performance
<br />Guarantee" and/or (b) any performance obligation other than the delivery, the
<br />erection and the connection of the EqUipment,
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<br />as will more fully appear from said Agreement, reference to which is hereby made,
<br />and which said Agreement and all documents Incorporated therein by reference are
<br />expressly made a part hereof.
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<br />The said Surety, for value received, hereby stipulates and agrees that no change,
<br />extension of time, alteration or addition to the terms of the agreement, or to the
<br />work to be performed thereunder shall in anywise affect Its obligation on this bond,
<br />as long as It has been prOVided With notice of any such change, extension of time,
<br />alteration or addition to the terms of the work, the Surety must agree, In writing to
<br />any changes In the terms of the Agreement, outSide of the scope of the work to be
<br />performed.
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