Opening of Bids - Spec R -One or More 2018 or Newer Combination Jet Rodder-Vacuum Machine with Cab and Chassis - 502 Equipment

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THE CINCINNATI INSURANCE COMPANY CONTRACTOR (Name, legal status and address): 502 Equipment. LILC 9002 West Side Court Crestwood, KY 40014 OWNER (Name, legal status and address): South Bend Public Works 227 W Jeffereson Street South Bend. IN 46601 BOND AMOUNT: 10% of bid SURETY (Name. legalswius and principal place ol'business): THE CINCINNATI INSURANCE COMPANY 6200 S. GILMORE ROAD FA IR FI E LD, 0 H 10 45014-5141 PROJECT (Name. location or address. and Project number, if any): Purchase of combination Ts6Rodder This document has important legal consequences, Consultation with an attorney is encouraged with respect to its compleflon or modification. Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. The Contractor and Surety are bound to the Owner in the amount set forth above, for the payment of which the Conti -actor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, as provided herein. The conditions of this Bond are such that if the Owner accepts the bid 6f the Contractor within the time specified in the bid documents, or within such time period as may be agreed to by the Owner and Contractor, and the Contractor either ( 1) enters into a contract with the Owner in accordance with the terms of such bid, and gives such bond or bonds as may be sRecified in the bidding or Contract Documents, with a surcty admitted in thejurisdiction of the Project and otherwise acceptable to the Owner, for the faithful performance of such Contract and for the prompt payment of labor and material furnished in the prosecution thereof, or (2) pays to the Owner the difference, not to exceed the amount of this Bond, between the amount specified in said bid and such larger amount for which the Owner 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. The Surety hereby waives any notice of an agreement between the Owner and Contractor to extend the time in which the Owner may accept the bid. Waiver of notice by the Surety shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time for acceptance of bids specified in the bid documents, and the Owner and Contractor shall obtain the Surety's consent for an extension beyond the sixty (60) days. If this Bond is issued in connection with a subcontractor's bid to a Contractor, the term Contractor in this Bond shall be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor. When this Bond has been furnished to comply with a statutory or other legal requirement in the location of the Project. any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirements shall be deemed incorporated herein. When so furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. Sip g ed and scaled this day of May. 2018 (JI"itness) 502 Equipment, ILLC. tPrincipal) 0�elfl) f Title) THE CINCINNATI INSURANCE COMPANY 044�� a�� (Seub I lie coilspwl� exectiting III IS I)LAid %ouchc� that this docuinent confoTr11% to Ailivrwrul I rislittile ol`Axbv1C,1S 0tPcLIIIICII1 1010, 20 10 I -A ition. S-2000-AIA (11110) PUBLIC