Reso 2008-1221 - Laserfiche WebLink

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1. Bidder and Surety, jointly and severally, bind themselves, their heirs. . executors, administrators, successors and assigns to pay to Owner upon default of Bidder any difference between the totaf amount of Bidder's bid and the total amount of the bid of the next lowest, resJ>Qnsible and responsive bidder as deteffil-Ll1erl .by Owner for the Work required by the Contract Documents, provided that: .1.1. If there is no such next lowest, responsible and. responsive bidder, and Owner does not abandon the Project, then Bidder and Surety shall pay to Owner the penal sum set forth on the face of this Bond, and 1.2. In no event shall Bidder's and Surcty's obligation herel.ll1der exceed the penal sum set forth on the face of1:!ll~ Bond. 2. Default of Bidder shall occur upon t..'1e failure of Bidder to deliver within tl:1e time required by the Bidding Documents (or a.."l}' extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding Documents and any perfonnance and p:l}'mcnt bonds required by the Bidding Documents and Contract Docwnents. 3. This obligation shall be nuIl and void if: 3.1. O\mer accepts Bidder's bid and Bidder delivers ",ithin the time required by the Bidding Documents (or any extension thereof agreed to in \vTiting by Owner) the executed Agreement required by the Bidding Documents <4'1d any pcTformance and payment bonds required by the Bidding Documents and Contract Documents, or 3.2. All bids are rejected by Owner, or 3.3. Owner faiis to issue a notice of award to Bidder wi'thin the time speci11ed in the Bidding Documents (or any extension thereof agreed to in writing by Bidder and, if applicable, consented to by Surety when required by paragraph 5 hereof). 4. Payment under this Bond will be due. and payabje upon default by Bidder and within 30 calendar days after receipt by Bidder and within Bid Bond. Oct. 2007 00401-2 30 calendar days after receipt by Bidder .and Surety of written notice of default from Owner, which notice will be given with reasonable promptness, identifying this Bond and the Project and including a statement of toe amount due. 5. Sur~ty wdives :notice or and any and aU defenses based on or arising out of any time extension to issue notice of awnrd agreed to ill writing by Owner and Bidder, provided that the _ total time for issuing notice of award including. extensions shall not in the aggregate exceed 120 days from Bid Due Date without Surety's written consent. 6. No suit OT action shaIi be commenced under this Bond prior to 30 calendar days after the notice of default, as required in Paragraph 4 above, is received by Bidder and Surety and in no case later than one year after Bid Due Date. 7. Any suit or action under this Bond shall be commenced only in a court of competent jurisdiction located in the' state m which the Project is located. 8. Notices required hereunder' shall be in writing and sent to Bidder and Surety at their. respective addresses shown on the face of this Bond: Such notices may be sent by personal delivery, commercial courier or by United States Registered or Certified Mail, return receipt requested, postage pre-paid, and shan be deemed to be effective upon receipt by the party concerned. 9. Surety shaH cause to be attached to thjs Bond a current and effective Power of Attorney evidencing the authority of the officer, agent or representative who executed this Bond on behalf of Surety to execute, seal and deliver such Bond and bind the Surety thereby. 10. This Bond is intended to conform to all applicable statutory requirements. ATl)' applicable requirement of any applicable st2t>.lte t1-:at has been omitted from this Bond shall be deemed to be included herein as jf set forth at lengt~~. If any provision of this Bond conflicts with any applicabk provision of this Bond conflicts vlith any applicable provision of any applicable statute,