00401-bid bond

Description

DOCUMENT 00401 BID BOND BIDDER (Name and Address): SURETY (Name and Address of Principal Place of Business): OWNER (Name and Address): TOWN OF SURFSIDE 9293 Harding Ave. Surfside, Florida 33154 BID BID DUE DATE: PROJECT (Brief Description including Location): BOND NUMBER: DATE: (Not later than Bid Due Date): PENAL SUM: IN WITNESS WHEREOF, Surety and Bidder, intending to be legally bound hereby, subject to the terms printed on the reverse side hereof, do each cause this Bid Bond to be duly executed on its behalf by its authorized officer, agent, or representative. BIDDER SURETY (Seal) (Seal) Bidder's Name and Corporate Seal Surety's Name and Corporate Seal By: By: Signature and Title Attest: Signature and Title (Attach Power of Attorney) Attest: Signature and Title Note: 05/17 (1) (2) Signature and Title Above addresses are to be used for giving required notice. Any singular reference to Bidder, Surety, Owner or other party shall be considered plural where applicable. 00401-1 15-8083.2 1. Bidder and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors and assigns to pay to Owner upon default of Bidder any difference between the total amount of Bidder's bid and the total amount of the bid of the next lowest, responsible and responsive bidder as determined by Owner for the Work required by the Contract Documents, provided that: 1.1. If there is no such next lowest, responsible and responsive bidder, and Owner does not abandon the Project, then Bidder and Surety shall pay to Owner the penal sum set forth on the face of this Bond, and 1.2. In no event shall Bidder's and Surety's obligation hereunder exceed the penal sum set forth on the face of this Bond. 2. Default of Bidder shall occur upon the failure of Bidder to deliver 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. 3. 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. All bids are rejected by Owner, or 3.3.