Bid Opening - One or More 2016 or Newer One Ton Two Wheel Drive Dump Truck Spec AC - Jordan Ford

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Document A31OTM - 2010 Conforms with The American Institute of Architects AIA Document 310 Bid Bond CONTRACTOR: (Nrrnre, legal staffs and add vs) Jordan Automotive Group dba Jordan Ford 609 E. Jefferson Boulevard Mishawaka, IN 46545 OWNER: ffi''amu, legal slalrrs and address) SURETY: (,fame, legal srarus and pr inclpal place a j1mvirress) The Hanover Insurance Company 440 Lincoln Street Worcester, MA 01653 City of South Bend, Office of the Board of Public Works 13th Floor, County -City Building, Room 1316, 227 West Jefferson South Bend, IN 46601 BOND AMOUNT: $ 10% Ten Percent of Amount Bid PROJECT: (Nonre, location oraddres4 andl'rro/ecluumber, jfaa}) This document has Important legal consequences. Consultation with an attorney Is encouraged with respect to Its completion or modification. Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. Spec AC - One (1) or More, 2016 or Newer, One Ton Two Wheel Drive Dump Trucks 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 assi3im jointly and severally, as provided herein. The conditions of this Bond are such tlmt 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 Owlter and Contractor, and the Contractor either (1) enters into a contract with the Owner in accordance with the terns 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 proiect 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 perlbnn [he work covered by said bid, then this obligation shall be null and void, otherwise to remain in full Ibme and ellecl. The Surely hereby waives any notice ol'an agreement between the Owner and Contractor to extend the time in which the Owner may accept the bid. Waiver ol'notice by the Surety shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time lbr acceptance ol'bids specified in the bid documents, and [lie Ownerand Contractor shall obtain the Surety's consent Ibr all extension beyond sixty (60) days. If this Bond is issued in connection with a subcontractor's bid ton Contractor, the tens Contractor in this Bond shall be deemed to be Subcontractor and the term Owner shall be doomed to be Contractor. When this Bond has been furnished to comply with a statutory or other legal requirement in the location ofthe project. any provision in this Bond coollicting with said statutory or legal requirement shall be deemed deleted herel'mm and provisions conlimning to such statutory or other legal requirement shall be deemed incorporated herein. When sr lumished, the intent is that this hand shall be construed as a slatulory bond and not as a common law bond. Signed and scaled this 13th day of December, 2016 Jordan Automotive Group dba Jordan Ford (seal)(ll'Hness)B LIZ trlle) pylj, s) l nSsa f ecuyer The Hanover Insurance Company (Surety) (Seal) BY2 AA & U (T1de)Christy . Braille Attorney -in -Fact Surety Phone No. 508-853-7200 x-4476 S-00541AS 8110