Opening of Bids - Liberty Tower TIF Project Proj No. 123-054 - Browing Chapman LLC

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Imt. - 2010 AI1� Document A31 oT"" o c. CONTRACTOR: SURETY: (Name, legal status and address) (Name, legal status and principal place Browning Chapman, LLC of business) Hudson Insurance Company 2101 Bastian Ct. 100 William Street, 5th Floor This document has important legal Westfield, IN 46074 New York, NY 10038 consequences. Consultation with OWNER: an attorney is encouraged with (Name, legal status and address) respect to its completion or City of South Bend, Board of Public Works modification. 227 West Jefferson Boulevard Any singular reference to South Bend, IN 46601 Contractor, Surety, Owner or BOND AMOUNT: ***FIVE PERCENT OF AMOUNT BID*** other party shall be considered plural where applicable. PROJECT: (Name, location or address, and Project number, if any) Liberty Tower TIF Project - Parking Garage Project No. 123-054 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 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 26th day of Septem r 2 Br w ap LC ( mcipal) (Seal) (wit ess) President (Title) Hudson Insuran om an (Surety) (Seal) (Witn s) (Title) Todd Schaap, Attorney -in -Fact ��► Tf ` AIA Document A310TM — 2010. Copyright ©1963, 1970 and 2010 by The American Institute of Architects. All rights reserved. WARNING. hjst{�I��}}_ Document is protected by U.S. Copyright Law and International Treaties. Unauthorized reproduction or distribution of this AIA® DonprAA ^� any portion of it, may result in severe civil and criminal penalties, and will be prosecuted to the maximum extent possible under the Is VVVV Purchasers are permitted to reproduce ten (10) copies of this document when completed. To report copyright violations of AIA Contract Documts, a -mail The American Institute of Architects' legal counsel, copyright@aia.org. oogafro., 1 Ar1N