te
Bidder and Surety. jointly and severally, bind
themselves, their heirs, cxecuters, administrators,
successors, and assigns to puy to OWNER upon
default of Bidder the penal sum sct forth on the face
of this Bond.
Default of Bidder shall occur upon the failure of
Bidder © deliver within the time required by the
Bidding Documents (or any extension thereof’
agreed to in writing by OWNER) te executed
Agreement required by the Bidding Documents and
any performance and payment bonds required by
the Bidding Documents and Contract Documents.
This obligation shall be null and void if:
3.1. OWNER accepts Bidder’s bid and Bidder
delivers within the time required by the
Bidding Documents (or any extension thereof
agreed to in writing by OWNER) the executed
Agreement required by the Bidding Documents
and any performance and payment bonds
required by the Bidding Documents and
Contract Documents, or
3.2 Allbids are rejected by OWNER, or
3.3 OWNER fails @ issue a notice of award to
Bidder within the time specified in the Bidding
Documents (or any extension thercofagrced to
in writing by Bidder and, if applicable,
consented to by Surety when required by
paragraph 5 hereof).
Payment under this bond will be due and payable
upon default by Bidder und Within 30 celendar days
ofter receipt by Bidder and Surety of written notice
of default from OWNER, which notice will be
given with reasonable promptness, identifying this
Bond and the Project and including a statement of
the amount duc.
Surety waives notice of and any and all defiznses
based on or arising out of any time extension to
issuc notice of award agreed to in writing by
OWNER il Bidder, provided that the time for
issuing Notice of Award including extensions shall
not in the agercgate exceed 120 days fromBid Duc
Date without Surcty's writtenconsent.
No suit or action shall be commenced under this
Bond prior 10 30 calendar days after the notice of
default required in paragraph 4 above is received by
Bidder and Surety, und in n0 case [ster than one year
afler Bid due date.
7.
Any suit or action under this Bond shall be
commenced only in 9 court of competent
jurisdiction located in the state in which the Project
is located.
.& Notice required hereunder shall be in writing and sent
to Bidder and Surety a their respective addresses
shown on the face of this Bond. Such notices may
be sent by personal delivery, commercial courier or
by United States Registered of Certified Mail,
return receipt requested, postage pre-paid, and shall
be deemed to be effective upon receipt by the party
concemed,
Surety shall cause to be attached to this Bond a
current and effective Power of Attorney evidencing
the authority of the officer, agent or representalive
who executed this Bond on behalf of Surety to
execute, seal and deliver such Bond and bind the
Surety thereby.
10. This Bond is intended to conform ¢ all applicable
statulory requirements. Any applicable requirement
of any applicable statute that hos been omitted from
this Bond shalt be deemed to be included herein as
if sct forth et length. If any provision of the Bond
conflicts with uny applicable provision of any
applicable statute, then the provision of said statute
shall govern and the remainder of this Bond that is
not in conilict therewith shall continue in full force
and effect.
The term "Bid" as used herein includes a Bid, offer
Or proposal ss applicable
