The appellate court affirmed the lower court's ruling that the failure to comply with the conditions precedent in a performance bond precludes recovery by the obligee, even if defective work is discovered after completion. Specifically, the court agreed that the owner failed to comply with notice and other requirements in the AIA A312 bond after discovering water intrusion over a year after construction was finished. Strict compliance with bond conditions is required regardless of whether work remains unfinished.