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VAIA Document A31 OTM -2011
<br />CONTRACTOR,
<br />(Name, legal status and address)
<br />Premium Concrete Services, Inc.
<br />712 Richmond St
<br />SURETY:
<br />(Name, legal status and principal place
<br />of business)
<br />Old Republic Insurance Company
<br />Elkhart, IN 46516 Brookfield, 111T
<br />OWNER:
<br />(Name, legal status and address)
<br />City of South Bend Board of Public Works
<br />County -City Building Room 1316, 227 West Jefferson Blvd
<br />South Bend, IN 46601
<br />BOND AMOUNT,
<br />Five Percent of the Total Bid 5% of Total Bid
<br />PROJECT:
<br />(Name, location or address, and Project number, if any)
<br />Ironwood Drive Sidewalk, Edison Road to S.R. 23; Project No. 117-033A
<br />This document has important legal
<br />consequences. Consultation with
<br />an attorney is encouraged with
<br />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 Surety are bound to the Owner in the amount set forth above, for the payment of which the
<br />Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and
<br />severally, as provided herein. The conditions of this Bond are such that if the Owner accepts the bid of the Conti -actor
<br />within the time specified in the bid documents, or within such time period as may be agreed to by the Owner and
<br />Contractor, and the Contractor either (1) enters into a contract with the Owner in accordance with the terms of such
<br />bid, and gives such bond or bonds as may be specified in the bidding or Contract Documents, with a surety admitted
<br />in the jurisdiction of the Project and otherwise acceptable to, the Owner, for the faithful performance of such Contract
<br />and for the prompt payment of labor and material furnished in the prosecution thereof-, or (2) pays to the Owner the
<br />difference, not to exceed the amount of this Bond, between the amount specified in said bid and such larger amount
<br />for which the Owner may in good faith contract with another party to perform the work covered by said bid, then this
<br />obligation shall be null and void, otherwise to remain in full force and effect. The Surety hereby waives any notice of
<br />an agreement between the Owner and Contractor to extend the time in which the Owner may accept the bid. Waiver of
<br />notice by the Surety shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time for
<br />acceptance of bids specified in the bid documents, and the Owner and Contractor shall obtain the Surety's consent for
<br />an extension beyond sixty (60) days.
<br />If this Bond is issued in connection with a subcontractor's bid to a Contractor, the term Contractor in this Bond shall
<br />be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor,
<br />When this Bond has been furnished to comply with a statutory or other legal requirement in the location of the Project,
<br />any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and
<br />provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. When so
<br />furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond.
<br />Signed and scaled this 5th day of December 2017
<br />P ml ITIC cat Se ces,lnc,
<br />(Witness) (Princi (Seat)
<br />(Title) fee4u,1
<br />Old Republic Insurance Company
<br />(Surety) �?(Seal)
<br />(Witness) Titlee i(ir L. Kaszna,Attodey n Fact
<br />CAU'liM Yhould sign an or4jiywall AAA Contract DOCLffneint, on whit
<br />wiH not ou sibe obviurod. thlis text appeare, in RED. An ofiginall assuires that
<br />changes
<br />AIA DocumentA3107m — 2010. Copyright 1963,1970 and 2010 by The American Institute of Architects. All rights reserved. WARNING: Tivs AIA"
<br />Unit, AIA
<br />is protected by UZ, Copyright Law and Internationai Treaties, UnarithorIzeld repiraduction or Mstributlom oftHs AlAo Document, or
<br />any portion of It, may resuft in aWvere crvill mtd crMnW penWHas, and WU be prosackgtmM to the umaxImun'i extent possibte underfAe law,
<br />purchasers are permitted to reproduce ten (10) copies of this document when compIeted. To report copyright violations of AIA Contract Documents, e-mail
<br />The American Institute of Architects' legal counsel, copy6ght@aiia.org. 061170
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