Laserfiche WebLink
1. Bidder and 5ureh-, jointh, anci severally, <br />bind themselves, their heirs, executors, <br />administrators, successors and assigns to pay to <br />Owner upon default of Bidder the pena] sum set <br />forth on dhe face of this Bond. <br />2. Default of Bidder shall occur upan the <br />failure of Bidder to deliver within the time <br />required by the Bidding Documents the <br />executed Agreement required by the Bidding <br />Documents and any perfarmance and payment <br />bonds required b}' the Bidding Document,5 and <br />Contract Documents. <br />3. This obligation shall be null and void if: <br />3.1 Owner accepts Bidder's bid and <br />Bidder delivers witlwi the time <br />required by the Bidding Documents <br />(or any extension thereof agreed to in <br />writuig liy Owner) dle executed <br />Agreement required by the Bidding <br />Docuinents and an1~ perfarmance and <br />payment bonds required by the <br />Bidding Documents and Contract <br />Documents, or <br />- 3.2 All bids are rejected b}' Owner, or <br />33 Owner fails to issue a notice of award <br />to Bidder within the time specified in <br />the Bidding Documents {or any <br />extension thereof agreed to in writing <br />b}' Bidder and, if applicable, <br />consented to by Surety when <br />required by paragraph 5 hereoo. <br />4. Payment under this Bond will be due and <br />payable upon default of Bidder and within 30 <br />calendar days afier receipt by Bidder and Surety <br />nf Written notice of defauit from Owner, which <br />notice will he given with reasonable promptness, <br />identifying this Bond and the Project and <br />induding a sratement of the amount due. <br />5. Surety waives notice of and any and all <br />defenses based on or arising out of any time <br />extension to issue notice of award agreed to in <br />writing by Owner and Bidder, provided that the <br />time for issuing notice of award including <br />extensions shall not in the aggregate exceed 120 <br />days from Bid Due Date without Surety's <br />written consent. <br />E)CDC NO. 1910-28-C (1990 Edition) <br />6. No suit or action shall be cammenced under <br />this Bond prior to 30 calendar da}•s after dir <br />notice ot default required in paragraph 4 abovr <br />is received b5f Bidder and Surety, and in no case <br />later than one year after Bid Due Date. <br />7. Any suit or action under this Bond shall be <br />commenced only in a court of competent <br />jurisdiction located in the state in which dle <br />Project is located. <br />Notice required hereunder shall be in <br />writing and sent to Bidder and Surety at dieii <br />respective addresses shown on the face of this <br />Bond. Such notices may be sent by personal <br />delivery, commercial courier or by United States <br />Registered or Certified Mail, return receipt <br />requested, pos4ge pre-paid, and shall be <br />deemed to be effective upon receipt by the parhy <br />concerned. <br />9. Surety shall cause to be attached to this <br />Bond a current and effective Power af Attomey <br />evidencing the authoriiy of the officer, agent or <br />representative who executed t}tis Bond on behalf <br />of Surety to exec-ite, seal and deliver such Bond <br />and bind the Surety thereby. <br />10. This Band is intended to conform to all <br />applicabie statutory requirements. Any <br />applicable requirement of any applicable statute <br />that has been omitted from this Bond shall be <br />deemed to be included herein as if set forth at <br />length. If any provision of the Bond conflicts <br />with any applicable provision of any applicable <br />statute, then the provision of said sfiatute shall <br />govern and the remainder of this Bond that is <br />not in conflict therewith shall continue in fuli <br />force and effect. <br />11. The term "bid" as used herein includes a <br />bid, offer or proposal as applicable. <br />35~ <br />SECTION V 2 <br />