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1. Bidder and Surety, jointly and severalty, bind 5. Surety waives notice of and any and all defenses <br /> themselves, their heirs, executors, administrators. based on or arising out of any lime extension to issue notice <br /> successors and assigns to pay to Owner upon default of of award agreed to in writing by Owner and Bidder,provided <br /> Bidder any difference between the total amount of Bidders that the total tine for issuing notice of award including <br /> bid and the total amount of the bid of the next lowest, extensions shall not in the aggregate exceed 120 days from <br /> responsible and responsive bidder as determined by Owner Bid Due Date without Strews written consent. <br /> for the'None required by the Contract Documents.provided <br /> that: 6. No suit or action shall be commenced under this Bond <br /> 1.1. If there is no such next lowest,responsible and prior to 30 calendar days after the notice of default as <br /> responsive bidder, and Owner does not required in Paragraph 4 above, Is received by Bidder and <br /> abandon the Project, then Bidder and Surety Surety and in no case later than one year after Bid Due <br /> shall pay to Owner the penal sum set forth on Date. <br /> the face of this Bond,and <br /> 1.2. In no event shall Bidder's and Surety's obligation 7. Any suit or action under this Bond shall be <br /> hereunder exceed the penal sum set forth on commenced only in a court of competent jurisdiction located <br /> the face of this Bond. In the state in which the Project is located. <br /> 2. Default of Bidder shall occur upon the faaume of Bidder 8. Notices required hereunder shall be in writing and <br /> to delver within the time required by the Bidding Documents sent to Bidder and Surety at their respective addresses <br /> (or any extension thereof agreed to in vatting by Owner)the shown on the lace of this Bond. Such notices may be sent <br /> executed Agreement required by the Bidding Documents by personal delivery,commercial courier or by United States <br /> and any performance and payment bonds required by the Registered or Certified Mail, return receipt requested. <br /> Bidding Documents and Contract Documents. postage pre-paid,and shall be deemed to be effective upon <br /> receipt by the party concerned. <br /> 3. This obligation shall be null and void if: <br /> 3.1. Owner accepts Bidders bid and Bidder delivers 9. Surety shall cause to be attached to this Bond a <br /> within the time required by the Bidding current and effective Power of Attorney evidencing the <br /> Documents(or any extension thereof agreed to authority of the officer,agent or representative who executed <br /> in witting by Owner) the executed Agreement this Bond on behalf of Surety to execute. seal and drover <br /> required by the Bidding Documents and any such Bond and bind the Surety thereby. <br /> performance and payment bonds required by <br /> the Bidding Documents and Contract 10. This Bond is intended to conform to all applicable <br /> Documents.or statutory requirements. My applcabie requirement of any <br /> 12. AB bids are rejected by Owner,or applcable statute that has been omitted iron this Bond shall <br /> 3.3. Owner fails to issue a notice of award to Bidder be deemed to be included herein as if set forth at length. If <br /> within the time specified in the Bidding any provision of this Bond conflicts with any applicable <br /> Documents (or any extension thereof agreed to provision of this Bond conflcs with any applicable provision <br /> in writing by Bidder and,if applicable,consented of any applicable statute, then the provision of said statute <br /> to by Surety when required by paragraph 5 shall govern and the remainder of this Bond that is not in <br /> hereof). conflict therewith shall continue in fug force and effect. <br /> 4. Payment under this Bond will be due and payable 11. The term'bid'as used herein includes a bid offer or <br /> upon default by Bidder and within 30 calendar days after proposal as appicable. <br /> receipt by Bidder and within 30 calendar days after receipt <br /> by Bidder and Surety of written notice of default from Owner. <br /> which notice wit be given with reasonable promptness, <br /> Identifying this Bond and the Project and including a <br /> statement of the amount due. <br /> 08112 00401-2 11-4179 <br />