Opening of Bids - Spec W 2019 or Newer 6 Wheeled Motor Grader - McCann Industies

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Document ,i 310 TM - 2010 Conforms with The American Institute of Architects AIA Document 310 Bid Bond CONTRACTOR: (Name, legal status and address) McCann Industries, Inc. 543 S. Rohlwing Road Addison, IL 60101 OWNER: (Name, legal stalits and address) City of South Bend 227 West Jefferson Blvd. Ste. 1316 South Bend, IN 46601 SURETY: (Name, legal status and principttl place tpfbuwittesw) RLI Insurance Company 9025 N. Lindbergh Drive Peoria, IL 61615 Mailing Address for Notices BOND AMOUNT: 10% Ten Percent of Amount Bid PROJECT: (Xamte, locatlonoraddmss ardl'rojectntumber, jfamj) Spec W - One (1) or More 2019 or Newer 6 Wheeled Motor Grader This document has Important legal consequences. Consultation with an attorney is encouraged with respect to Its completion or modification. Any siligular reference to Contractor, Surety, Cwner or other party shall be considered plural where applicable. Tire Contractor and Surety are bound to lire owner in lho amount set forth above. for ilia payment of which the Contractor and Surety bind themselves, their heirs, w cutors, admi tistcatom,, successors and assigns, jointly and severally, as provided herein, The conditions ofthis Bond arc such that if the Owner accepts the bid of ilia Contractor within the time specified in the bid documents, or within such time period as may be agreed to by tine Owner and Contractor, and lite Contaetor either (i ) enters into a contract with the Owner in accordance with the tends of such bid, mid gives such bond or boards as may be specified in the bidding or Contract Docunicnis, with a surety adittitted in the jurisdiction of the Project and otherwise acceptable to the Owner, for the faithful perforinance of such Contract and for die prompt payment of labor and material furnished in the prosecution thereof„ or (2) pays to rite Owner the difference, not to exceed tine amount of this Bond, between ilia amount specified in said bid and such larger amount for which the Oiwtitor may in ,good faith contract ivith another party to peribrin the iworh covered by said bid, then this obligation shall be null and void, otherwise hi remain in full lbrce and cllbct. The Surety hereby wuivesian,y notice ol'un agreementbetween the tlwneraud Contractor to extend the linic iu which the Owner muy uccept [lie bid. Waiver of notice by the Surely shall not apply to any extension exceeding sixty (60) days in the aggregate beyond the time lisr acceptance ol'bids specified in the bid documents, and the O%%iter and Contactor %hull obtain the Surcty'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 term Contractor in this Bond shall be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor. When this Bond fans been Ibmishcd to comply with a statutory or other legal requirement in the location of the project, any provision in this; florid vnillicling %«with said statutory or legal rt quirement shall be deemed deleted herclsrorm and provisions conlaarming to Stich statutory or other legal requirement shall be deemed incorporated herein. When so lumished, the intent is that this frond shald be construed us a statutory bond and not as a common law bond. Signed and scaled this 26th day of November, 2019. McCann Industries„ Inc. (II'lutess) RLI Insurance Company_ (Surety) (ro"utxlj (111tttag) Thomas een S-0054/AS 8110