Opening of Bids - Century Center Parking Lot Entry Gate Improvements Proj No 118-035A - Walsh & Kelly

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.. .I µ J a S Surety O + 908.903.3485 202B Halls Mill Road, PO Box 1650 F + 908.903.3656 Whitehouse Station, NJ 08889-1650 Federal Insurance Company AIA Document A31OTM - 2010 Bid Bond Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. CONTRACTOR 0 ame le al status and address), alst belly, Inc. 24358 State Road 23 South Bend, IN 46614 OWNER (Na/me, legal status and address): City of South Bend, Indiana County -City Building Room 1316 227 West Jefferson Blvd. South Bend, Indiana, 46601 BOND AMOUNT SURETY (Name, legal status and principal place of business): Federal Insurance Company 202B Halls Mill Rd., PO Box 1650 Whitehouse Station, NJ 08889-1650 In the amount of not less than five percent (5%) of the base bid plus any alternates. PROJECT (Name, location or address, and Project number, if any) Century Center Parking Lot Entry Gateway Improvements Project No. 118-035A 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 are 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 tenons of such bid, and 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 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 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. Printed in cooperation with the American Institute of Architects aW by Chubb. The language in this document conforms to the language used in AI9INocumentA310 -2010. Form 1502-05MFED (Rev. 3/M