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w'=AIA <br />DOCu meiM A31 OTM -2010 <br />CONTRACTOR: <br />(Name, legal status and address) <br />Premium Concrete Services, Inc. <br />712 Richmond St <br />SURETY: <br />(Name, legal status and principal place <br />of business) <br />Old Republic Insurance Company <br />P. O. Box 0941 <br />Elkhart, IN 46516 Brookfield, WI 53008-0941 <br />OWNER: <br />(Name, legal status and address) <br />City of South Bend Board of Public Works <br />County -City Building Room 1316 <br />South Bend, IN 46601 <br />BOND AMOUNT: <br />Five Percent of the Total Bid 5% of Total Bid <br />PROJECT: <br />(Name, location or address, and Project number, if any) <br />2022 Curb and Sidewalk Construction - Round 1; Project No. 122-001 <br />This document has important legal <br />consequences. Consultation with <br />an attorney is encouraged with <br />respect to its completion or <br />modification. <br />Any singular reference to <br />Contractor, Surety, Owner or <br />other party shall be considered <br />plural where applicable. <br />The Contractor and Surety are bound to the Owner in the amount set forth above, for the payment of which the <br />Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and <br />severally, as provided herein. The conditions of this Bond are such that if the Owner accepts the bid of the Contractor <br />within the time specified in the bid documents, or within such time period as may be agreed to by the Owner and <br />Contactor, and the Contractor either (1) enters into a contract with the Owner in accordance with the terms of such <br />bid, and gives such bond or bonds as may be specified in the bidding or Contract Documents, with a surety admitted <br />in the jurisdiction of the Project and otherwise acceptable to the Owner, for the faithful performance of such Contract <br />and for the prompt payment of labor and material furnished in the prosecution thereof; or (2) pays to the Owner the <br />difference, not to exceed the amount of this Bond, between the amount specified in said bid and such larger amount <br />for which the Owner may in good faith contact with another patty to perform the work covered by said bid, then this <br />obligation shall be null and void, otherwise to remain in frill force and effect. The Surety hereby waives any notice of <br />an agreement between the Owner and Contractor to extend the time in which the Owner may accept the bid. Waiver of <br />notice by the Surety shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time for <br />acceptance of bids specified in the bid documents, and the Owner and Contractor shall obtain the Surety's consent for <br />an extension beyond sixty (60) days. <br />If this Bond is issued in cormection with a subcontractor's bid to a Contactor, the tetra Contactor in this Bond shall <br />be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor. <br />When this Bond has been furnished to comply with a statutory or other legal requirement in the location of the Project, <br />any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and <br />provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. When so <br />furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. <br />Signed and sealed this 7th day of July 2022 <br />Premium Concrete Services Inc <br />(Principal) ' (Seal) <br />(Wi ess) <br />(Title) `Ns,,,, <br />Old Republic Insurance Company <br />(Surety) _S <br />(Witness) <br />(Title) nifer L. Kasznia, ttorney-in-Fact <br />CAUTION: You should sign an original AIA Contract Document, on w h this text appears in RED. An original assures that <br />changes will not be obscured. <br />AIA Document A31(F`e — 2010. Copyright ©1983, 1970 and 2010 by The American Institute of Architects. All rights reserved. WARNING: This AIAo <br />Init. Document Is protected by U.S. Copyright Law and International Treaties. Unauthorized reproduction or distribution of this AIA® Document, or <br />any portion of it, may result In severe civil and criminal penalties, and will he prosecuted to the maximum extent possible under the law. <br />f Purchasers are permitted to reproduce ten (10) copies of this document when completed. To report copyright violations of AIA Contract Documents, e-mail <br />The American Institute of Architectslegal counsel, copyright@aia.org. 061110 <br />