Opening of Bids - Spec G - Two More or Less 2018 or Newer 3 Yard Front End Rubber Tire Loaders - McCann Industries Inc

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Bid Bond CONTRACTOR: (Name, legal status and address) McCann Industries, Inc. 543 S. Rohlwing Road Addison, IL 60101 OWNER: (Name, legal stales and address) City of South Bend 227 W.Jefferson South Bend, IN 46601 BOND AMOUNT: 10% Document A31oTM - 2010 Conforms with The American Institute of Architects AIA Document 310 SURETY: (Name, legal status and Principe!! Place ! f hUmle-m) RLI Insurance Company 9025 N. Lindbergh Drive Peoria, IL 61615 Mailing Address for Notices Ten Percent of Amount Bid This document has important legal consequences. Consultation with an attorney is encouraged with respect to its completion or modification. Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. PROJECT: (Nam location or addrou and l iroject munber, if any) Spec G - Two (2) More or Less, 2018 or Newer, 3 Yard Front End Rubber Tire Loaders The Contractor and Surety are bound to the Owner in the amount set forth above, for the payment of which the Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, as provided herein. Tile conditions of this Bond arc such that if the Owner accepts the bid of 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 terns of such bid, mid gives such bond or bonds as may be specified in the bidding or Contract Documents, with a surety admitted in the jurisdiction 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 perlbrin the work covered by said bid, then this obligation shall be null and void, otherwise to remain in full lbrcc and effect. The Surety hereby waives any notice ol'an agreement between the Owner and Contractor to extend the Gnme in which the Owner may accept the bid. Waiver of notice by the Surcly shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time lbr acceptance ol'bids specified in the bid documents, and the Ow7mer and Contractor shall obtain the Surety's consent lbr an extension beyond 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 lLimished to comply with a statutory or other legal requirement in the location ofthe Project, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefmm and provisions conlimrming Um such statutory or other legal requirement shall be deemed incorporated herein. When so Furnished, the intent is that this Bond shall be construed as u statutory bond and not as a common law bond. Signed and scaled this 9th day of April, 2019. (1171tnewv) Daryl Correa McCann Industries. Inc. RLI Insurance Company (Sore oeav By. �� w PEAL . (ralgiWilliarrf Reidimgier Attorney-?n-Fact S-00541AS alto