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___-.!!_(!~!}OO? ()!: 21 FAX 3055987742 METRO EQUIPMENT 141003 1. Bickler and Surety, jointly and severally, bind thcmselves. their hClrs, executors. administrators. successors and assign:; to pay to Owner upon defmllt of Bidder any difference between the total amount of Bidder's bid and the total amount of the bid of the next lowest responsible and responsive hidder as c1etcJ1l1inc.d by (hvncr for the \Vork required by the Contract Documents. provided that: 1. I. 1 f there is no such ncxt lowest, responsible and responsive hidder, and Owner docs not abandon the Project, then Bidder and Surety shall pay to Owner the penal sum set forth on the face of this Bonet and 1.2. In no event shall Bidder's and Suret).,:; obligation hereunder exceed the penal sum set forth on the face of this Bond. 2. Default of Bidder shall occur upon the failure of Bidder to deliver within tbe time required by the Bickling. Docllments (or any extension thereof agreed to in writing by OWllcr) the executed Agreement required by tbe Bidding Documents and any performance and payment bonds required by the Bidding Documcnts and Contract Documents. 3. '"flns obhgat1on Sh~ln be null ane! void ,r: 3.1. Owner accepts Bidder's bid and Bickler delivers within the time required by the Bidding Documents (or any extension thereof agreed to in ''.Titing by Owner) the executed Af,'Tcemcnt required by the Bidding Documents and any pcd<l1lwrnce and paYIllI:;~nt bonds required by the F:~idding Documents and Contract Documents. or 3.2. All bids are rejected by Owner. or 3.3. Owner fails to issue a nonce of award 1.0 Bidder \vilhin the time spccihed in the Bidding Documcnts (or any extensIOn thereof agreed to Jr) writing by BicJcler and, if applic8hk, consented to by Surety' when required hy paragraph 5 hereon. 4. Paynlenl under thIS Bond will be due and payable upon default hy Bickler and within 30 ea lcndar days after receipt by BIdder and withm Bid Bond. Oct. 2007 30 calendar days after receipt by Bidder and Surety of written notice of default frolTl Ov,'ner, \1'.,hich notice will be given with reasonable promptness, identifying this Bond and the Project and including, a statement of the amount clue. 5. Surety \vaives notice of and any and all def't:nses ha~ed on or arising out of any time extension to issue notice of award agreed to in wliting: by Owner and Bidder, provided that the tOLal time fer issuing notice of award including extensions shall not in the aggregate exceed 120 days from Bid Due [)ate without Surety's '\.'l'itten consent. (1- No suit or action shall be commenced under th1S 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 orlc year after Bid Due Date. 7 _ Any suit or action under this Bond shall be cornmcl1ced on Iy In a court of competent iunsclictionlocated 111 tbe state in which the Project is located. R. Notices required hereunder shall be in writing and. sent to Bidder and Surety at their respec.tive addresses sho\vn on the face of this Bond SlJI::h notices may be sent by personal delivery, commercial courier or by l.Jnite.d Slates Registered or Certified Mail. return receipt requested, post.age pre-paid,. and shall be deemed to be effl~ctive upon receipt by the party concerned. 9 SUrel;! shall cause 1.0 be attached to this Bond a ell'Tent and effective Power of Attorney evidencing the authority of the officer, agent or representative \',:ho executed this Bond on behalf or Surety to execute, seal and deliver sllch Bond ,1lld bind the Surety thereby. 10. This Bond is intended to conform to all applicable statutory requirements. Any applicable reqUJrcrncllt of any applicable statute that has been O11l11.':ed from this Bond shall be deemed to he included herein as if set forth at length. If any pHlvlslOn or this Bond conflicts with any applicable provision of this Bond conniets wilh allY applicable provision of any applicable statute. 00401.2