Opening of Bids - Studebaker National Museum Roof Restoration & Replacement Proj No. 122-030 - Midland Engineering Co., Inc.

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Document A310 TM - 2010 Conforms with The American Institute of Architects AIA Document 310 Bid Bond CONTRACTOR: (Name, legal status and address) Midland Engineering Co., Inc. PO Box 1019 South Bend, IN 46624 OWNER: (Name, legal stalrrs acrd address) City of South Bend Board of Public Works 227 W. Jefferson St. South Bend, IN 46601 SURETY: (Name, legal status and lW11Ctpal place q f bavinvs. ) The Cincinnati Insurance Company P.O. Box 145496 Cincinnati, OH 45250-5496 Mailing Address for Notices BOND AMOUNT: 5% Five Percent of Amount Bid PROJECT: (Manic, location or address andl'ro,Jectnumbcr. ifarrh) Studebaker National Museum Roof Restoration and Replacement 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 file Contractor within the time specified in the bid documents, or within such tinhc period as may be agreed to by the Owner and Contractor, and the Contractor either (t) enters into a contract with the Owner in accordance %vith the terms of such bid, and gives such bond or bonds as may be specified in the bidding or Contract Documents, with a surety adnhittcd 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 fumished in the prosecution tlhcrcof, 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 Nrlorm the work covered by said bid, then this obligation shall be null and void, otherhvise to remuin in I'ull lorce and elteet. The Surely hereby waives any notice ol'an agreement between the Owner and Contractor to extend the time in which the Owner may accept the bid. Waiver of notice by (lie Surety shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time lbr acceptance ol'bids specilied 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 teen Contractor in this Bond shall be decnhcd to be Subcontractor and the term Owner shall be dccmcd to be Contractor. When this Bond has been {innished to comply with a sluttdory or other legul requirement in the location ol'the Project, ally provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conlihrnhing to such stutulory or other legal requirement shall be deemcd incorporated herein. When so funhished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. Signed and scaled this 14th day of June, 2022. (f!'itnask'enneth A. Sage, SecretaiT Midland Engineering Co., Inc. (Ptfirrctpal) (Seal) By: A S-00541AS 8110