Opening of Bids - One or More, 2020 or Newer, 6 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: Warne, legal status and address) City of South Bend 227 West Jefferson Blvd. South Bend, IN 46601 D'ocument a 310TM 2010 Conforms with The American Institute of Architects AIA Document 310 SURETY: (Name, legal status and principal place of buwinexw) RLI Insurance Company 9025 N. Lindbergh Drive Peoria, IL 61615 Mailing Address for Notices BOND AMOUNT: 10% Ten Percent of Amount Bid PROJECT: (Name, location or addmn and Pr ojec! number, if aiti) Spec A One (1) or More 2020 or Newer 6 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 tine anioutit set forth a�bovc. for the payment ofwhich the Contractor and Surety bind flicroselves. their heirs, oxccutors, administrators, successors and assigns. jointly and severally, as provided herein, "fire conditions of this Bond are such that if the Owwancr accc,pts the bid of file Contractor within the thttc specified in ilia Laid docuntcttts, or wilhin such (into period as may be agreedto by the Owner and C:ontroctor, and [lie Contractor either (1,) caters into a contract with the Owwncr in accordance with the ternis of such bid, mid gives such bond or bonds as may be specified in die bidding or Contract Documents, with a surety admitted in the jurisdiction of the Project and otherwise acceptable to the Owvncr, 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 aniount specified in said bid and such larger amount for which the Owner may in good faith contract with another party to peribmi the work- covered by said bid, then (his obligation shall be null and void, otherwise to remain in lull force and ellect. The Surety hereby wvuives any notice of, an ugrceiwient between tiie Owner and Contractor to extend the time in which the Owner may accept llie bid. Wuiver or notice by (lie Surety shall not apply to uny extension exceeding :sixty (60) days in the aggregate beyond the time Ibr acceptance of bids specilied in the bid documents, and tile Owner usid Contractor shall obtain the Surely's consent liar 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 tern Owner sliall be deemed to be Contractor. When this florid has been ttirni:shcd to comply with a statutory or other legal requirement in the location ol'the Project, any provision in this Bond conllicling wvilh said statutory or legal requirement shall be deemed deleted herellrom and provi%ions coniiimting to such statutory or other legal requirement shall be deemed incorporated herein. When so famished, the intent is that this Bond sliall be construed as a statutory bond and not as a cmnnwn law bond. Signed and scaled this 24th day of March, 2020. !11'inicss) tLI Insurance Company aurclyj !lf lhPemv) Rebecca R: Alves S-0054/AS 8/10 �e