Opening of Bids - 905, 907, 909 Michigan Demolition Proj No. 120-063 - Green Demolition Contractors, Inc.

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THE CINCINNATI INSURANCE COMPANY Bid Bond CONTRACTOR (Name, legal status and address): SURETY (Name, legal status and principal place of business): Green Demolition Contractors, Inc. THE CINCINNATI INSURANCE COMPANY 4840 S. St Louis Avenue, Suite 100 6200 S. GILMORE ROAD Chicago, IL 60632 FAIRFIELD, OHIO 45014-5141 OWNER (Name, legal status and address): This document has important legal City of South Bend, Indiana - Board of Public Works consequences, Consultation with 227 West Jefferson Blvd - County -City Building Room 1316 an attorney is encouraged with South Bend, IN 46601 respect to its completion or modification. BOND AMOUNT: 5% of Total Bid Amount Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. PROJECT (Name, location or address, and Project number, if any): Demolition - 905-907-909 Michigan Demolition Project Number, if any: 905, 907 and 909 S. Michigan Street, South Bend, IN 120-063 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 severa[ly, 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 terms 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 the 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 furnished to comply with a statutory or other legal requirement in the location of the Project, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirements shall be deemed incorporated herein. When so Furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. Signed and sealed this L?yday of �i0lL?O�� (Seal) ' Michael Brough - President THE CINCINNATI INSURANCE COMPANY (Surety) r7 ( lt�aess j rle} David S. Parrilli - Attorney -in -Fact The Company executing this bond vouches that this document conforms to American Institute of Architects Document A310, 2010 Edition. S-2000-AIA (11/10) PUBLIC