Opening of Bids - LaSalle Park Improvements Proj No. 122-015 - R. Yoder Construction, Inc.

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Bid Bond CONTRACTOR: Name, legal status and address) R YODER CONSTRUCTION, INC. 27453 Cty Rd 150 Nappanee, IN 46550 OWNER: (Name, legal status and address) CIry of South Bend 227 W Jefferson Blvd South Bend, IN 46601 ° AIA Document A310TM .2010 SURETY: (Name, legal status and principal place of business) Selective Insurance Company Of America 40 Wenta a Avenue Branchville, NJ 07890 BOND AMOUNT: Five Percent of the Bid Amount (5.00% of Bid Amount) PROJECT: (Name, location or address, and Project number, ifany) LaSalle Park Improvements Project No.121=015 Bid Bond No, Mu108 This dowment has Important legal consequences. Consultation with an attorney is encouraged with respect to Its completion or modlFlcation, Any singular reference to contractor, Surety, Owner or other party shall be considered plural where applicable. The Contractor and Surely are bound to the Owner in the amount set forth above, for the payment of which the Contractor and Surety bind themselves, it 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 (I) 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 Ill this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirement 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 201h day of ADri1.2023 AIA Document A310"L 2030. Copyright 63 1 and 2010 by The American institute of Architects. All rights reaervetl. WARNING: cols AIAa Document is pro[ectetl by U.S. Copyright Law antl International Treaties. Unauthorized reprotluctlon or distribution of this AIAe Document, or any portion of it, may result In severe civil antl criminal penalties, and will be prosecuted [o the maximum extent possible under the law. PUTIlasels are pemiltled to repiroduce ten cop es of this amument when completed. o report copyright violations Ot AIA convactDocuments, e-mail The American Institute of Architects' legal counsel, l rloht®ala.o Dania