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<br />C> <br /> <br />o <br /> <br />o <br /> <br />1, Bidder and Surety, )oInlly and severnS>" bind <br />Ihornccive3, their t\aIn;, f:l(et;UlOro, adminiSlrlilors, <br />5UCCSESOrs and assIgns to pay to Owner upon default of <br />Bidder any difference between the total amount of Bldderc <br />bid and the tolal amount of 1hP. 1M of tho noxt JOWQC!, <br />responsible and msponsive bidder as detllrminecl oy CMner <br />for the Work required by the Con\ract Documents. pro\'iCled <br />that <br />1,1, If lhora I.. no suCh next lowest, responSIDle Me! <br />responsive bidder, and OWner does not <br />abandon the Project. then Bidder and Surety <br />shall pay 10 Owner thE pe'lal ",urn ~ forth on <br />Ihe (ace of thls Bonet and <br />1.2. In no ll't/Bnt shan Bidd!lf's and Surety's obUgatlon <br />herllUTlder exceed the penal $lJ1'Il sat for1h on <br />the rllti~ ur thls Bontl. <br /> <br />2. Default of BIdder shan QCCllI' upon the (ailurB of Bidder <br />10 deliver wfthln the time rllQUlrlld by thR RIdding Ooeun'll>/'$ <br />(or any 9Xlenslon lhe'eof ilgrtled to in WIlling by Owner) the <br />executed AgrBllment required by the Bidding Documents <br />and any performance and payment bonds required by the <br />Bidding Document:! ;llnd Contract DuI.'lJIT1ents. <br /> <br />3, Trot> obllgation 5I1all bo null and void If: <br />3,1. Owner accepts Bidder's bld and BidriRr nA11ver9 <br />IMlhln the tlmll required by tile Bidding <br />Documentg (or any ~enslon thereOf agrlled to <br />in wrillng by Owner) the exi!Cl.lted Agreement <br />requirod ~ the B1dditlg Do<:l.II1'letll:s iOlld any <br />performarn:e and payment bonds requirBd by <br />the Bidding DOCUIllents and Contract <br />OOCUmonts, or <br />3.2, All bidS are rejectlld by Owner, or <br />3,3. OwnllJ' f;!.11s to issue;!. I'lOlice of award to Bidder <br />IMlhln Ihe lime specified in the BIdding <br />Ooeum...ntc (M :\ny cxh.nsion th=f agreed 10 <br />In 1NI'Iling by Bidder and, If applicable, consented <br />to by Surety v.tlen required by pal'9grapl'l 5 <br />her!!Of). <br /> <br />4. Pa~ent und81' thIs Bond will be dUB and payable <br />upon dsfault by Bidder and IIJIthin 30 caland<lt dayS after <br />rP.C<>lpt hy SkldOll' :>nd within 30 c:llcndDr days Mler ....goJpt <br />by BIdder and Surnly of written notice Of dafaull from Owner, <br />W\lch notice v.ill be given with reasonable promptness. <br />idenUlylng thiS Bond and th9 Project and ir'lCll,l(ljrJQ a <br />51<ltement of the amoUJ'\t due. <br /> <br />5, Surely waives notice of and any and ell defenses <br />bas~ on or arising 0lI\ of any Ome e.xtension to issue not!l;Q <br />of award agreed to in writing by Owner and BIdder, provided <br />thai the total time for issuIng notice of award indUding <br />E>><leneion~ 3hall oot in the ..ggregille !:ltt.-=d 120 Q.ilys from <br />Bid Due Dale without Suretfs written consent, <br /> <br />6, No suit or action $~I be commenced under this Sond <br />prlor to 30 cal!ll1d;!.r days after the notice of defaull as <br />requlmrl in Paragraph 4 above, Is received by Blddl!l' and <br />Surety and in no case later 1ll8n one year aftllf" BId Due <br />Oste, <br /> <br />7, Any suit or aclion under this Bond shaR be <br />commenced only In a court of competent jUriSdlctlon located <br />in the state in \I'otliCll the Project is located. <br /> <br />8. Notices reqUired hereunder shall be in writing and <br />~nt to BIdder and Surety at their respWlive ~lIr~sm; <br />shown on the fuca 01 this Bond. Such notiCeS may be sent <br />by personal deilllelY. commerclal courier or by UnltBd StEltes <br />Registered or CertJlled Mall. retLm receipt reQu8$t~. <br />postage pre-pald, ancl shall be deemed 10 be effective upon <br />recelpt by thB party concemed. <br /> <br />\'), Suroty ,,~II ""\J3U to be ettached 10 thl:s Bond a <br />current and effective Power of AltOlT\ey evidencing the <br />authority of the offlCGr, <lgent or represenlative who executed <br />this Bond on behalf 01 Surety to execute, seal and deliver <br />sucn BoncI aoo tllna me surely IhellIby, ' <br /> <br />10, This Bond Is lrttendlld to conform to all app~cable <br />slatlllOfY requiremAn""- Any app~c:;Ib(q rcquiromllnl of 30y <br />applicable stetute thai has bllen omItted from thIs Bond shan <br />be deemed to be Induded herein all If set forth at length. If <br />any provision of this Bond conflicts wttn any appllcable <br />proVISIon Of tnls Bond oontIlClS wnn any applicable ~on <br />of any appOcable statule, then \he provision of said staMe <br />shaD govern and the ramalnder of this Bond that Is not In <br />conlllctthpfP.Wl!h .:h;>J1 continue ;1'1 full forco gnd olfocl. <br /> <br />'\ <br /> <br />11, The lerm "bId' as used herein includes II bid. offer or <br />proposai as applicable. <br /> <br />Final Version <br /> <br />r'---' <br /> <br />00401-2 <br />