Laserfiche WebLink
<br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />.. <br /> <br />1. Bidder and Surety, jointly and severally, bind <br />themselves, their heirs, executors, administrators, <br />successors and assigns to p.ay to Owner: upon default of <br />Bidder any difference. between the' total amount of <br />Bidder's bid and the total amount of the bid of the next <br />lowest, responsible and responsive bidder as determined <br />by Owner for the Work required by the Contract <br />Documents, provided that: <br />1 .1. If there is no such next lowest, responsible <br />and'responsive bidder,' and Owner .does riot <br />'. abandon. the Project, jhen Bidder and Surety <br />shall pay teOwnerthe penal sum set'f6rthon <br />.. .. .'.---." ....-:-~'-:c..-:the-face-ofthis-Bond;'.and..':- ..'--. - .",......:.-.-....- <br />1.2. In 'no. . event shall Bidder's" and, Surety's <br />obligation hereunder' exceed the penal sum <br />set forth on the face of this Bond. <br /> <br />2;' Default of Bidder : shall OCcur upon the failure of <br />Bidder .todeliver within the time required by the Bidding <br />bocuIT,lents (or any extension thereof agreed to in writing <br />by. Owner) the executed Agreement required by the <br />Bidding Documents and any . performance and payment <br />bonds required . by the Bidding Documents and Contract <br />Documents. . <br /> <br />3. . This obligationshaUbenulland void if: ..' <br />. 3.1. Owner. accept~ Bidder's bid 'and Bidder. <br />dem/irrs within. the. time required by the <br />B}dding'Documents (or any extension ~hereof <br />. agreed to in writing. by Owner) the executed <br />Agreement . required by. the Bidding <br />;Documents . and any. performance.. and <br />payment. boridsrequired .' by the Bidding . <br />Documents and. Contract. Documents, or" <br />3.2. All bids are rejected by OWner. or . <br />3.3. Owner. fails to issue a notice of award te <br />Bidder.withinthe time specified in the Bidding <br />. Documents (or' aiW extension' thereof agreed <br />to in' writing by Bidder and, if applicable, <br />. consented to by. Surety when required by <br />. paragraph 5 hereof). . . <br /> <br />. '. . .' '. . <br />'. . . <br />4. Payment under this Bond wlUbedue and payable <br />. upcin~ef.aldtby Bidderjll1d within 30 calendar days after <br />. receipt by. Bidder arid .within' 30 calendar days after <br />receipt by Bidder arid Surety of written notice of default <br />fro'mOwrier,which notice will be give/') with reasonable <br />promptness, . identifying this Bond . and the Project and <br />. including a statemEmt of the amoLlnt due. <br /> <br />5. Surety waives notice of and any and all defenses <br />based on or arising out of any time extension to issue <br />notice of award agreed to in writing by Owner and <br />Bidder, provided that the total time for issuing notice of <br />award including extensions shall not in the aggregate <br />exceed 120 days from Bid Due Date. without Surety's <br />written consent. <br /> <br />. 6. No suit or action shall be commenced. under this <br />Bond prior to 30' calendar days after. the notice of defaLllt, . <br />as required in Paragraph 4 above',' is received by Bidder <br />and Surety and in no case later than one year after' Bid <br />-.-'-Oue-Oata;'.'-- _____,____u'"'___ -- -- - ------......... . <br /> <br />7.. Any. suit or. action under this Bond shall be <br />commenced only in a .court of competent jurisdiction' <br />located inthe state in which the Project is located. . <br /> <br />8; Notices required hereunder shall be in writing and <br />sent to. Bidder and Surety at their respective addresses <br />shown on the .lace of this. Bond. . Such notices may be <br />sent by personal delivery, commercial courier or by <br />United States Registered or Certified Mail, return receipt <br />requested, postagepre~paid, and shall be deemed to be <br />effective upon receipt by the party concerned. <br /> <br />9. Surety shaH cause to be attached to' this Bond a <br />current arideffectivePoVl(ef 01 Attorney eiiiaeni:iii~i the <br />authority of the officer, agent or representative' who <br />executed this Bond on behalf 'of Surety to ex'ecute, seal <br />and deliver such Bond and bind the Surety thereby. <br /> <br />10.' This Bond is int'~ndedtoconform teal! applicable <br />statutory requirements. Any applicable requirement of <br />any applicable statute that has been omitted from this <br />Bond sh~1I be deemed to be included herein as if set forth <br />. at length. If any provision of this Bond conflicts 'with any <br />applic.able . provision. of. this Bond conflicts with any <br />applicable provision of any applicable statute, then the <br />provision of said statute shall govern. and the remainder <br />of . this . Bond . that is . not in confiict therewith shall <br />continue in fuli force and effect. <br /> <br />11.. .. The ,term "bid'~ as used herein inclLldes a bid, offer <br />or proposal as applicable. <br /> <br />09/09 <br /> <br />00401.2 <br /> <br />03-4122.F <br />