HomeMy WebLinkAboutResolution - 111438A - Bond Cancellation Clause In Agreement Between COL And Mr. J.E. Maisen - 11/14/1938101
DURWOOD H. BRl?
BRADLEY & WILSON
ATTORNEYS -AT -LAW
CONLEY BUILDING
PHONE 1122
LUBBOCK, TEXAS
November 14, 1938
Mr. W. H. Rodgers
City Manager
Lubbock, Texas
Dear Sir:
;!_TER D, WILSON
Some time ago Mr. J. E. Maisen appeared before the City
Commission and discussed with them a proposition of including
in Contractor's and sub -contractor's bonds a cancellation clause.
I think the following clause would be sufficient to meet Mr.
Maisen's Company's objections to the present form of the bond,
and at the same time I do not see how it could result in any
injury to the City.
The clause I have in mind reads as follows:
"It is understood and agreed that the surety may cancel
this bond at any time on 10 days notice in writing mailed to the
City of Lubbock, Texas, but it is hereby expressly provided that
such cancellation shall not affect any accrued liability on this
bond. "
I am sending a copy of this letter to Mir. Maisen, and
suggest that you two contact each other to the end that the
form of the present bonds may be changed to include the above
cancellation clause.
DH 13: c
Yours truly,
BRkDLEY & WILSON
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