|
Bid Bond
<br />CONTRACTOR:
<br />(,'Waite, legal .Islas and adch•com)
<br />R. Yoder Construction, Inc.
<br />27453 County Road 150
<br />Nappanee,IN 46550
<br />Document 1 310 Tnn — 2010
<br />Conforms with The American Institute of Architects AIA Document 310
<br />SURETY:
<br />m,us, legal merlrrc and pn•incil2ed Place afhmi,resv)
<br />Euler Hermes North America Insurance Company
<br />100 International Drive, 22nd Floor
<br />Baltimore, MD 21202
<br />OWNER:
<br />(Name. le gal status and addivss)
<br />City of South Bend, Board of Public Works
<br />227 West Jefferson Boulevard, Suite 1300 N
<br />South Bend, IN ARAMBOND AMOUNT: $ 5%
<br />Five Percent of Amount Bid
<br />PROJECT:
<br />Iwo locario,t or addr��s� iff l'roje.'ot,nrnrGcr,; if mn)
<br />Byers Softball Complex Improvement Phase 1, South Bend, IN, Contract # 123-072
<br />This document has important
<br />legal consequences. Consultation
<br />Wit an attorney Is encouraged
<br />with 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 Surct}arc bound to the Otancr in the amount set forth above, for file payment of which file Contractor and Surat}• bind
<br />thentsches, their heirs, executors, administrators, successors and assigns, jointly and severally, as prodded herein. The conditions of this
<br />Bond are such that if the Owner accepts the bid of file Contractor witliin Ilia time specified in the bid documents, or within such time period
<br />as may be agreed to by the Owner and Contractor, and the Contractor cithcr(1) enters into a contract with file Owner In accordance with
<br />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
<br />the jurisdiction of the Project and otbenvise acceptable to the Owner, for the faithful performance of such Contract and for the prompt
<br />payment of labor and material futnishcd in the prosecution thereof: or (2) pays to the Owner the difference, not to exceed the amount of
<br />tIlls Bond, between the amount specified itt said bid and such larger amount for which the Owner may in good faith contract with another
<br />party to perform the work covered by said bid, then this obligation shall be null and void, otherwise to rentain in IUII force and ellect. The
<br />Surety herebv waives any notice of an agreement between the Owner and Contractor to extend the lime in which the Owner may accept the
<br />bid. Walver ol'notice by the Surely shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time lbr
<br />acceptance of bids specilied in the bid documents, and the Owner and Contractor shall obtain the Surety's consent for an extension beyond
<br />sMY (00) days.
<br />If this Bond is issued in connection t4ith a subcontractor's bid to a Contractor, the teen Contractor in this Bond shall be deemed to be
<br />Subcontractor and the term Owner shalt be deemed to be Contractor.
<br />V1hen this Bond has been ti.trnishea to comply with n statutory or other legal requirement in the: location ot'the Project, unv provision in
<br />his Bona conflicting with said statutory or legal requirement Shull be scented deleted herel'rom and provisions conliirnting to such
<br />statutory or other legal requirement shall be deemed incorporates herein. When do Iitmishea, the intent is that this on shall be construed
<br />as a statutory bond and not as a common law bond.
<br />Sighed and scaled this 10th day of December, 2024
<br />(J1'iurc�ssy
<br />S-0054/AS 8l10
<br />R. Yoder Construction, Inc.
<br />(Principal) , - (Seal)
<br />Euler Hermes North America Insurance Company Pmer1C°Z �'i,
<br />,,
<br />(Surer}j (,S4cr1)_ CPSEAL`�i�'' ".
<br />200340
<br />fTiifeRamela M. And rsonAttorney-in-Fact '%i%i"•• •o�a��.
<br />.,,'aljillA1��.
<br />
|