19-D HMAC Overlay Award - Laserfiche WebLink

Home Browse Search

Bid Bond SURETY DEPARTMENT Conforms with the American Institute of Architects, A.I.A Documents No. A-310 KNOW ALL MEN BY THESE PRESENTS, Richard Drake Construction Company, L.P. as Principal herinafter called the Principal, and Westfield Insurance Company the laws of the State of Ohio whose principal office is in Westfield Center hereinafter called the Surety, are held and firmly bound unto City of Paris corporation created and existing under as Surety, as Obligee hereinal~er called, the Obligee in the sum of FIVE PERCENT OF THE GREATEST AMOUNT BID Dollars ($ 5% GAB ) for the payment of which sum, well and truly to be made, thc said Principal and the said Surety, bind oarselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents Whereas, the Principal has submitted a bid for 2002 City Street HMAC Overlay Program - Proiect # 46.55 NOW, THEREFORE, if the Obligce shall accept the bid of the Principal and the PrinciPal shall enter into a contract with the Obligee in accordance with the terms of such bid, and give such bond or bonds as may be specified in the bidding or conWant documents with good and sufficient surety for the faithful performance of such con~ract and for the prompt payment of labor and material furnished in the prosecution thereof, or in the event of the failure of the Principal to enter such contract and give such bond or bonds, if the Principal shall pay to the Obligee the difference not to exceed the penalty hereof betwcen the amount specified in said bid and such larger amount for which the Obligee may in good faith contract with another party to perform the work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect Signed and sealed this 2~ dayofJuly~ 2002 Richard Drake Co!a~truction Company~ L P ~(SEAL) t~g~, eld Insurance Company Attorney-in-fact