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Unformatted text preview: Obligee: The obligee in this case is the local school board who would receive the proceeds from the bond if Vasquez fails its obligation as the principle. Surety: The surety is the issuer of the performance bond. B. The suretys obligation would be to pay the obligee (school board) if the principle fails its obligations. C. The surety would have the right to go after Vazquez Construction in recovering the loss payment....
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- Spring '08