Opening of Bids - Spec C - Two More or Less 2019 or Newer Full Size Cargo Vans - Jordan Ford

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ocume t , 31 O TM - 2010 Conforms with The American Institute of Architects AIA Document 310 Bid Bond CONTRACTOR: SURETY: (A'ame, legal s'!nitfs and [![%Chz'c.5) (,'dial, legirlstatus and principal place [ f ht[siness) Jordan Automotive Group dba Jordan Ford The Hanover Insurance Company 609 E. Jefferson Boulevard 440 Lincoln Street This document has important legal consequences. Consultation Mishawaka, IN 46545 Worcester, MA 01653 with an attorney Is encouraged with respect to its completion or OWNER: modification. (Xanrc, legal staters atd ad[iress) Any singular reference to City of South Bend Contractor, Surety, owner or other party shall be considered 13th Floor, County -City Building, Room 1316, 227 West Jefferson plural where applicable. South Bend, IN 46601 BOND AMOUNT: $ 10% Ten Percent of Amount Bid PROJECT: (,Vane, location or address and Project ntrtnber, if a!{t) Spec C - Two (2) More or Less 2019 or Newer Full Size Cargo Vans 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 assigns, jointly and severally, as provided herein. The conditions of this Bond are such that 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 Owner and Contractor, and the Contractor either (1) enters into a contract with the Owner in accordance with 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 the jurisdiction of the Project and otherwise acceptable to the Owner, for the faithful performance of such Contract and for tlro 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 pertbriu the work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and ellect. The Surety hereby %vaives any notice ol'un agreement between the Owner and Contractor to extend the time in which the Owner may accept the bid. Waiver of notice by the Surety shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time lilr acceptance of bids specilied in the bid documents, and the Owner and Contractor shall obtain the Surety's consent liar un extension beyond sixty (60) days. If this Bond is issued in connection with a subcontractor's bid ton Contractor, the term 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 lurnished to comply with a statutory or other legal requirement in tiie location ol'the Project, any provision in this Bond conflicting with said statutory or legal requirement shall be deenled deleted hereliom and provisions conlimning to such statutory or other legal requirement shall be deemed incorporated herein. When so furnished, the intent is that this Bond shall be construed US a statutory bond and not as a common low bond. Signed and scaled this 9th day of April, 2019 el LL (il'ltt�ess) P C 0u 4 t`-1 0 (i1�11ltes.5) atNssa �euy r " td Jordan Automotive Group dba Jordan Ford (Principal) (Seal) By;[,. (Title) The Hanover Insurance Company (5ttlY By,� (l'°l !c) e L. Burns -Hasty Attorney -jet -Fad Surety Phone No. 508-853-7200 x-4476 S-0054/AS 8110