Bonds and Other Performance Security. 9.2.1 CM shall provide the following performance bond and labor and material payment bond or other performance security: 9.2.2 CM shall keep the Surety informed of the progress of the Work, and, where necessary, obtain the Surety's consent to and waiver of: (1) notice of changes in the Work; (2) request for reduction or release of retention; (3) request for final payment; and (4) any other material change required by the Surety. Owner may, in its sole discretion, inform the Surety of the progress of the Work and obtain consents as necessary to protect Owner's rights, interest, privileges, and benefits under and pursuant to any bond issued in connection with the Work.
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Sources: Construction Manager at Risk Agreement, Construction Manager at Risk Agreement
Bonds and Other Performance Security. 9.2.1 CM shall provide the following performance bond and labor and material payment bond or other performance security:
9.2.2 CM shall keep the Surety informed of the progress of the Work, and, where necessary, obtain the Surety's consent to and waiver of: (1) notice of changes in the Work; (2) request for reduction or release of retention; (3) request for final payment; and (4) any other material change required by the Surety. Owner may, in its sole discretion, inform the Surety of the progress of the Work and obtain consents as necessary to protect Owner's rights, interest, privileges, and benefits under and pursuant to any bond issued in connection with the Work.other
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