During December 1985, Vincent T. Riggi Jr. entered into a contract with Wade Lupe Construction Company, Inc. (hereinafter Lupe), a contractor, for the renovation and conversion of the Hinckel Brewery in the City of Albany into residential apartments. Pursuant to the terms of the contract, Lupe, as principal, and Employers Insurance of Wausau (hereinafter Wausau), as surety, issued to Riggi a labor and material payment bond and a performance...
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