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4-20-015 / Lincoln's New Salem HVAC Controls Upgrade

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BID BOND

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RETURN WITH BID

STATE OF ILLINOIS

DEPARTMENT OF NATURAL RESOURCES

AS PRINCIPAL, AND

A CORPORATION OF THE STATE OF

AS SURETY, ARE HELD AND FIRMLY BOUND UNTO THE STATE OF ILLINOIS, ACTING BY

AND THROUGH THE DEPARTMENT OF NATURAL RESOURCES, AS OBLIGEE, IN THE

AMOUNT OF TEN PERCENT (10%) OF THE AMOUNT OF THE BASE BID FOR THE PAYMENT

OF WHICH PRINCIPAL AND SURETY BIND THEMSELVES, THEIR HEIRS, EXECUTORS,

ADMINISTRATORS, SUCCESSORS AND ASSIGNS, JOINTLY AND SEVERALLY, TO THIS

AGREEMENT.

PRINCIPAL HAS SUBMITTED TO OBLIGEE A BID TO ENTER INTO A WRITTEN CONTRACT,

FOR PROJECT:

LOCATION OF WORK:

IN ACCORDANCE WITH BIDDING DOCUMENTS FOR THE PROJECT, WHICH CONTRACT IS

BY REFERENCE MADE A PART HEREOF AND IS HEREINAFTER REFERRED TO AS "THE

CONTRACT".

THE CONDITION OF THIS OBLIGATION IS THAT IF PRINCIPAL, UPON ACCEPTANCE BY

OBLIGEE OF ITS BID WITHIN THE PERIOD OF TIME SPECIFIED FOR ACCEPTANCE, SHALL

COMPLY WITH ALL POST AWARD REQUIREMENTS AS REQUIRED BY THE TERMS OF THE

BID WITHIN THE TIME SPECIFIED AFTER DATE OF THE BID AWARD, OR IN THE EVENT OF

THE FAILURE TO COMPLY WITH ALL POST AWARD REQUIREMENTS, IF PRINCIPAL SHALL

PAY OBLIGEE (1) FOR ALL COSTS OF PROCURING THE WORK WHICH EXCEEDS THE

AMOUNT OF ITS BID, OR (2) SHALL PAY OBLIGEE THE AMOUNT OF THIS BOND AS

LIQUIDATED DAMAGES IN THE EVENT PRINCIPAL IS A SOLE BIDDER AND AFTER AN

ATTEMPT TO SECURE OTHER BIDS BY RE-ADVERTISING NONE CAN BE OBTAINED, THEN

THIS OBLIGATION SHALL BE NULL AND VOID; OTHERWISE IT SHALL REMAIN IN FULL

FORCE AND EFFECT.

SURETY HEREBY AGREES THAT ITS OBLIGATION SHALL NOT BE IMPAIRED BY ANY

EXTENSIONS OF TIME FOR OBLIGEE'S ACCEPTANCE OR COMPLIANCE WITH POST

AWARD REQUIREMENTS. SURETY HEREBY WAIVES NOTICE OF SUCH EXTENSIONS.

SIGNED AND SEALED THIS ___________________ DAY OF__________________________, 20.

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CONTRACTOR SURITY

BY ________________________ BY _____________________________

TITLE ________________________ TITLE OFFICER OF THE SURITY

ATTEST: ___________________________________________________________________

CORPORATE SECRETARY (CORPORATIONS ONLY):

JURAT (NOTARY'S STATEMENT AUTHENTICATING SIGNATURE)

STATE OF: _____________________________________________________________________

COUNTY OF: ___________________________________________________________________

I, _____________________________________________________ , (INSERT NAME OF

ATTORNEY-IN-FACT FOR SURETY) A NOTARY PUBLIC IN AND FOR SAID COUNTY, DO

HEREBY CERTIFY THAT WHO IS PERSONALLY KNOWN TO ME TO BE THE SAME PERSON

WHOSE NAME IS SUBSCRIBED TO THE FOREGOING INSTRUMENT ON BEHALF OF

SURETY, APPEARED BEFORE ME THIS DAY IN PERSON AND ACKNOWLEDGED

RESPECTIVELY, THAT HE/SHE SIGNED, SEALED, AND DELIVERED SAID INSTRUMENT AS

HIS/HER FREE AND VOLUNTARY ACT FOR THE USES AND PURPOSES THEREIN SET

FORTH.

GIVEN UNDER MY HAND AND NOTARIAL SEAL THIS __________________________________

DAY OF ______________________________ A.D. 20____.

MY COMMISION EXPIRES _________________________________________________________

NOTARY SIGNATURE

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