Opening of Bids - Spec Q - One or More 2019 or Newer 1 Yard Front End Rubber Tire Loader - 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 status and address) City of South Bend 227 West Jefferson Blvd. South Bend, IN 46601 BOND AMOUNT: 10% Document A310 TM - 2010 Conforms with The American Institute of Architects AIA Document 310 SURETY: (Name, legal status and pNnctpul place of hWhiess) RLI Insurance Company 9025 N. Lindbergh Drive Peoria, IL 61615 Mailing Address for Notices Ten Percent of Amount Bid PROJECT: (,Vain, location or address, andProjectnrnnber, ifan)j Spec Q One (1) or More 2019 or Newer 1 Yard Front End Rubber Tire Loader 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. 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. The 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 tine 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, 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 aniount for which the Owner may in good faith contract with another party to perlbrnn the work covered by said bid, then this obligation shall be null and void, otherwise to remain in Bill lorce and ell'ect. The Surety hereby waives any notice ol'an agreement between [he Owner and Contractor to extend the line in which the Owner may accept the bid. Waiver ornoticc by the Surely shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time firr acceptance ol'bids specified in the bid documents, and Elie 0%ner and Contractor %hull obtain the Surety's consent firr an extension beyond sixty (60)days. If this Bond is issued in connection with a subcontractor's bid to a Contractor, the ton» Contractor in this Band shall be doomed to be Subcontractor and the terin Owner shall be deemed to be Contractor. When this Bond has been furnished to comply with a statutory or other legal requirement in [he location ol'tlie Project any provision in this Bond conflicting with said statutory or legal requirement shall he deemed deleted herellrom and provisions conlbmiing to such statutory or other legal requirement shall be deemed incorporated herein. When so I'umished, [lie intent is that this Bond shall be construed as a statutory bond and not as a comnnon law bond. Signed and scaled this 23rd day of July, 2019. RLI Insurance Com (.4rrre0y S-0054/AS 8/10