Opening of Bids - 2023 VPA Athletic Court Renovations, Phase III Proj No. 123-040 - Milestone Contractors North Inc.

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CNASURETY Bond No. Bid Bond CONTRACTOR: SURETY: Continental Casualty Company (Name, legal status and address) (Name, legal status and principal place of business) Milestone Contractors North, Inc. 151 N. Franklin Street 24358 State Road 23 17th Floor South Bend, IN 46614 Chicago, IL 60606 This document has important legal consequences. Consultation with OWNER: an attorney is encouraged with (Name, legal status and address) respect to its completion or modification. City of South Bend Any singular reference to 227 West Jefferson Blvd. Contractor, Surety, Owner or other party shall be considered South Bend, IN 46601 plural where applicable. BOND AMOUNT: 5% Five Percent of the Base Bid Plus Any Alternates PROJECT: (Name, location or address. and Project number, if any) VPAAthletic Court Renovations, Phase 3, 2023; Project No. 123-040 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 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 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 herefro�lAku I II/I/.. provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. WqA�� actors furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bow °: ''• ;o.� Signed and sealed this 11th day of _ April 3 ` o°; ��?ORATE S Milestone tra s North, Inc. L2�•� Jrrmuc B (T ustin P. Hilary, Director of Estimatin �., / Y tqF 16,1. a gbXinental Casualty Compares,ooPR�agTE ur r-A _� 1n n 1> X .� . Ui i _ r` ahead) Riley, f89 Printed in cooperation with the American Institute of Architects (AIA). The language In this document conforms to the language used In AIA Document A310 - Bid Bond - 2010 Edition.