Opening of Bids - Sewer and Manhole Rehabilitation Project No 118-093 - Inland Waters Pollution Control Inc

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Document 1 310 TM - 2010 Conforms with The American Institute of Architects AIA Document 310 Bid Bond CONTRACTOR: (Name, legal status and address) Inland Waters Pollution Control, Inc 4086 Michigan Avenue Detroit, MI 48210 OWNER: (Nance, legal stales and address) City of South Bend 227 West Jefferson Blvd South Bend, IN 46601 SURETY: (Name, legal status and pr fnciped place e f hueiness ) Arch Insurance Company Harborside 3, 210 Hudson Street Suite 300 Jersey City, NJ 07311-1107 Mailing Address for Notices 3 Parkway, Ste 1500 Philadelphia, PA 19102 BOND AMOUNT: 5% Five Percent of Amount Bid PROJECT: (,'Fame, location oraddress. aud)'rojecruumber, ifartw% Sewer and Manhole Rehabilitation - Project No. 118-093 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. The Contractor and Surety are booed to Iltc Owner in the amount set fortis above, for (lie payancrlt of which tiro Contractor and Surety bind. themselves, their heirs, xccwilors, adrniaaislrators, successors and assigns, jointly and severally„ as provided licrc'ita. Ttae coaaditions of this Bond arc sliest that if the Owileraccepts the bid of the Contractor within the time spceiricd in the bid documents, or within such tittte period as ntny be agreed to by the Owwiwr and Contractor, and the Conlractorcillocr(1) enters into a contract with the Owner in accordance +wifh the terns of such bid, and gives such bond or bonds as ntay 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 porl"ormance of such Contract and for the prompt payment of labor and material funtished 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 perlbrna the wort: covered by said bid, then this obligation shall be null and void, otherwise to remain in full liorce and ell'ect. The Surety hereby waives any notice ofatta agreement betwweela the Owner and Contractor to extend the time in which the Owner may accept the bird, Waiver col"nootice by the Surety shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the lime liar acceptance aof`bads speciled in the bid documents, and the Owvnerand Contractor shall obtain the Surety's consent liar an extension beyond sixty (60) days. If this Bond is issued in connection with a subcontractor's bid to a Contractor, the toms 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 ol'the Project. any provision in this Bond conflicting with.said statutory or legal requirement shall be deemed deleted herel'teona and provisions cloaalbrrloing to such statutory or other legal requirement shall be deemed incorporated herein. When so furnisbed, the intent is that this Bond shall be construed as a statutory bond and not as a connnon law bond. Signed and scaled this 3rd day of December, 2018. Arita Otur-ll r VIA aaaw.w;) lane oras i S•0054/AS 8/10 Inland Waters Pollution Control, Inc. a'lorirtclp (�ritrar!) By ' 17t('I (goArch Insurance Corn anyBy.(n11L)Vi dria P. Par<erson, Attorney -in -Fact