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1. Bidder and Surety, joindy and severally, <br />bind themselves, the'u heirs, executors, <br />administrators, successors and assigns to pay m <br />Owner upon default of Bidder the penal sum set <br />forth on the face of this Bond. <br />2. Default of Bidder shall «cur upon the <br />failure of Bidder to deliver within the time <br />required by the Bidding Documents �e <br />execubed Agreement required by the Bidding <br />pocwnents and any performance and payment <br />bonds required by the Bidding Docu.ments and <br />Contract Documents. <br />3. This obligation shall be null and void if: <br />3.1 Owner accepts Biddei s bid and <br />Bidder delivers within the time <br />required by the Bidding Uocuments <br />(or any extension thereof agreed to in <br />writing by Owner) the executed <br />Agreement reyuired by the Bidding <br />' Documents and any perforu�ance and <br />payment bonds required by the <br />Bidding Documents and Contract <br />Documents, or <br />32 All bids are rejected by Owner, or <br />3.3 Owner faiLs to issue a notice of awurd <br />to fiidder within the time specified in <br />the Bidding Documents (or any <br />ex�nsion thereof agreed to in writing <br />by Bidder and, if applicable, <br />consented bo by Surety when <br />required by paragraph 5 hereo�. <br />4. Payment under this Bond will be due and <br />payable upon default of Bidder and within 30 <br />calendar days after receipt by Bidder and Surety <br />of Written notice of default from Owner, which <br />notice will be given with reasonable promptness, <br />idenhfying this Bond and the Project and <br />including a statement of the amount due. <br />5. Surety waives notice of and any and all <br />defenses b:ued on or arising out of any time <br />extension to issue notice of award agreed to in <br />writing by O�+'ner and Bidder, p�ovided that the <br />time for issuing notice of award including <br />extensioru shall not in the aggregate exceed 12� <br />days from Bid Due Dnbe without Surety's <br />written consent. <br />EJCDC N0.1910-28-C (1990 Edition) <br />6. No suit or action sha.il be coaumenced under <br />this Bond prior m 30 calendar days aft�er the <br />notice of default required in paragraph 4 above <br />is received by Bidder and Suzety, and in no case <br />later than one year aher Bid Due Date. <br />7. Any suit or action under this 8ond shall be <br />commenced only in a court of competent <br />jurisdiction locabed in the staLe in wluch the <br />Project is locatied. <br />8. Notice required hereunder shall be in <br />writing and sent to Bidder and Surety at their <br />respective addresses shown on the Eace of this <br />Bond. Such notices may be sent by personal <br />delivery, commercial courier or by United 5tates <br />Registered or Certified Mail, return receipt <br />requesbed, pos�ge pre-paid, and shall be <br />deemed to be effective upon receipt by the party <br />concemed. <br />9. Surety shall cause to be attached to this <br />Bond a current and effective Power of Attorney <br />evidencing ti�e authority of the officer, agent or <br />represen�►tive who executed this Bond on behalf <br />of Surety bo exersbe, seal and deliver such Bond <br />and bind the Surety thereby. <br />10. This Bond is intended ho conform bo all <br />applicable statutory requirements. Any <br />appli�cable requirEment of any applicable stacute <br />�t �,y been omitbed b-osn 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 />statube, then the provision of said statute shall <br />govern and the remainder of t�is Bond that is <br />not in conflict therewith shall continue in full <br />farce and effect. <br />I1. The term "bid" as used herein indudes a <br />bid, offer or proposal as applicable. <br />SECTION V - 3 <br />