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Document A31 OTM! - 2010
<br />CONTRACTOR:
<br />(Name, legal status and address)
<br />Precision Wall Systems, Inc.
<br />3801 South Main Street
<br />South Bend, IN 46614
<br />SURETY:
<br />(Name, legal status and principal place
<br />of business)
<br />Merchants Bonding Company (Mutual)
<br />West Des Moines, IA
<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 />Three Twenty at The Cascade - Glazed Assemblies; Project No. I 18-074A
<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 Contractor
<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 fall 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 berefrom 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 sealed this I 9th day of October 2018
<br />Precision Wall Syste
<br />(Principal (Seal) I
<br />(Witness)
<br />- ------------------
<br />(Title)
<br />Merchants Bondin Company (Mutual)
<br />re (Seal)
<br />4itanessf'
<br />��le Nicole L. Bicknell, Attorney in Fact
<br />CAUTMW YOU shouild sign an originall AlA Contract u Docmenc,t, ow, Wh cn ch t this, text appears ki RED. Ain origihna� assures that
<br />changes, will not be obscuired.,
<br />AIA Document A310111 - 2010, Copyright 0 1963, 1970 and 2010 by The American Institute of Architects. All rights reserved, WARMM TWs Age'
<br />Init. Document Is protected by US, Copyright Lavy and hiternaflorwat Treaties, Unauthorized repiroduclion or dWrlibiotlon of this Me' Docurnent, or
<br />any portion of it, may rpsult in severe civil and crkninal penaittes, and will be prosecuted to ttie, maximum extent possible under the law.
<br />Purchasers are permitted to reproduce ten (10) copies of this document when completed. To report copyright violations of AIA Contract Documents, e-mail
<br />The American lnstitute of Architects' legal counsel, copyfight@ata.org. 061110
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