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1. Bidder and Surety, jointly and severally, bind <br />themselves, their heirs, executors, administrators, <br />successors and assigns to pay to Owner upon default of <br />Bidder the penal sum set forth on the face of this Bond. <br />Payment of the penal suns is the extent of Surety's liability. <br />2. Default of Bidder shall occur upon the failure of Bidder <br />to deliver within the time regwred by the Bidding <br />Documents (or any extension tlicroof agreed to in isruing by <br />Owncr) the executed Agreement required by the Bidding <br />Documents and tiny performance and paynnent bonds <br />required by the Bidding Documents. <br />This obligation shall be null and void if: <br />IL Owner accepts Bidder's Bid and Bidder delivers <br />within the time required by the Bidding <br />Documents (or any extension thereof agreed to in <br />writing by Owner) the executed Agreement <br />required, by the Bidding Documents and any <br />performance and payment bonds required by the <br />Bidding Documents, or <br />32. All Bids are rejected by Owner, or <br />3.3. Owner fails to issue a Notice of Award to Bidder <br />within the time specified in the Bidding <br />Documents (or any extension thereof agreed to in <br />writing by Bidder and, if applicable, consented to <br />by Surety when required by Paragraph 5 hereol). <br />4. payment under this. Bolid will be due and payable upon <br />default by Bidder and within 30 calendar days alley receipt <br />by Bidder and Surety of written notice of default from <br />Owner, which notice will be given with reasonable <br />promptness, identifying this Bond and One Project and <br />including a swilcovem of the amount due. <br />5. Surety waives notice of any and all defenses based on or <br />arising out of any time extension to issue Notice of Award <br />agreed to in writing by Owner and Bidder, provided that <br />the total time for issuing Notice of Award including <br />extensions shall not in the aggregate exceed 120 days from <br />Bid due date without surety's written consent. <br />G. No suit or action shall be commenced under this Bond <br />prior to 30 calendar days afler the notice of default required <br />in Paragraph 4 above is received by Bidder and Surety and <br />in no cruse later than one year alter Bid due date. <br />7. Any suit or action under this Bond shall be commenced <br />only in a coed of competta tjurisdiction located in the state <br />in which the Project is located. <br />8. Notices required hereunder shall be in writing and sent <br />to Bidder and Surety at their respective addresses shown on <br />the face of this Bond. Such notices may be sent by personal <br />delivery, commercial courier, or by United Stales <br />Registered or Certified Mail, return receipt reques <br />postage prepaid, and shall be deemed to be effective upon <br />receipt by the party concened. <br />9. Surety shall cause to be attached to this Bond a current <br />and effective Power of Attorney evidencing the nmltoiily of <br />the officer, agent, or representative who executed this Bond <br />on behalf of Surety to execute, seal, and deliver such Bond <br />and bind the Surety thereby. <br />10. This Bond is intended to conform to all applicable <br />statutory requirements. Any applicable requiremew of any <br />applicable statute that has been omitted from this Bond shall <br />be deemed to be included herein as if set forth at length if <br />any provision of this Bond conflicts with any applicable <br />statute, then the provision of said statute shall govern and <br />the remainder of this Bond that is not in conflict therewith <br />shall continue in full force and effect. <br />11. The tenn "Bid" as used herein includes a Bid, offer, or <br />proposal as applicable. <br />EJCDC NO. C 430 (2002 Ediaom) 00 u 13-2 <br />