Opening of Bids - Six Thousand 6,000, More or Less, Universal Nestable Refuse Containers

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Bond No. 7710665-20-006 ,�l YI Doci!tti-tent.4310 - ElectronicForinttt THIS DOCUMENT HAS IMPORTANT LEC.iAI_ CONSEQUENCES: CONSULTATION WITH AN ATTORNEY IS ENCOURAGED WITH RESPECT TO ITS COMPLETION OR MODIFICATION. AUTHENTICATION OF THIS E1..F..CTRONICALLY DRAFTED AIA DOCUMENT MAY FEE MADE BY USING A[A DOCUNI ENT D40I. KNOW ALL MEN BY THESE PRESENTS, that we as Principal, hereinafter called the Principal, and IPL Inc. 140, rue Commerciale Saint-Damien-de-.Buckland, Quebec GOR 2YO Atlantic S]pecialty Insurance Company One State Street Plaza, 31st Floor New York, tV.Y 10004 a corporation duly organized under the laws of the State of as Surety, hereinafter called the Surety, are held and firmly bound unto City of South Bend 227 West Jefferson Boulevard, South Bend, IN 46601 as Obligee, hereinafter called the Obligee, in the sum of TF.,N .Percent of Tender Amount ( 10% ), for the payment of which sum well and truly to be made, the said Principal and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal has submitted a bid for: Spec B — Six Thousand (6,000) More or Less Universal/Nestable Refuse Containers. "It is understood and agreed that if the final contract bonds are required, the guarantee(s) stated in the contract will be covered by these bonds for a period not exceeding one (1) year after the completion of the work. These Bonds will be renewable at the option of the surety, if required. It is understood that the renewal will not modify nor cumulate the amount of the bonds. The non -renewal of this bond shall not constitute an event of default of this bond". NOW, THEREFORE, if the Obligee shall accept the bid of the Principal and the Principal shall enter into a Contract with the Obligee in accordance with the terms of such bid, and give such bond or bonds as may be specified in the bidding or Contract Documents with good and sufficient surety for the faithful performance of such Contract and for the prompt payment of labor and material furnished in the prosecution thereof, or in the event of the failure of the Principal to enter such Contract and give such bond or bonds, if the Principal shall pay to the Obligee the difference not to exceed the penalty hereof between the amount specified in said bid and such larger amount for which the Obligee 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. Signed and sealed this 24th day of March 2020. (VJi,tnesi«i) t�C1 -- Olivlfr NwA w. IPL Ilra.� (Principal) " -"(Seal) \4 i , w C ,7 (Tithe ) Atlantic Specialty Insurance Company (Surety) (Seal) Gabriel a"4sscj'!1 lhvlwey w-fact AIA DOCUMENT A'10 - BID BOND - ,AIA - FEBRUARY 1970 EDITION - THE AMERICAN INSTITUTE OF ARCH17ECTS, 1735 NEW YORK AVENUIF N,W . WASHINGTON D.C. 20006-5292, Unlicensed pbotoc:opying violates U.S. copyright laws ;cud is si!bje t :o legal pm_:ecuti.on. This document was eleclronic:ally produced with permission of the AIA and can be reproduced without violation until the elate of expiration as doled below, Electronic Format A310-1970 l