8-6. Bid Bond .docx

PENAL SUM FORM

BID BOND

Any singular reference to Bidder, Surety, Owner, or other party shall be considered plural where applicable.

BIDDER (Name and Address):

SURETY (Name and Address of Principal Place of Business):

OWNER (Name and Address):

Stansbury Park Service Agency

1 Country Club Drive, Suite 1

Stansbury Park, UT. 84074

BID

Bid Due Date:

Description (Brief Description Including Location):

BOND

Bond Number:

Date (Not earlier than Bid due date):

Penal sum

(Words)

(Figures)

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.

(Seal)

(Seal)

By:

By:

Signature and Title

Signature and Title

(Attach Power of Attorney)

Attest:

Attest:

Signature and Title

Signature and Title

Note: Above addresses are to be used for giving required notice.

PENAL SUM FORM

EJCDC No. C-430 (2002 Edition) Page 1 of 2

00430-2 Bidder and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors, and assigns to pay to Owner upon default of Bidder the penal sum set forth on the face of this Bond. Payment of the penal sum is the extent of the Surety’s liability.

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.

This obligation shall be null and void if:

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, or All Bids are rejected by the Owner, or Owner fails to issue a Notice of Award to Bidder within the time specified in the Bidding Documents (or any extension thereof agreed 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 and within 30 calendar days after 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 due.

Surety waives notice of any and all defenses based on or arising out of any time extension to issue Notice of Award agreed to in writing by Owner and Bidder, provided that the total time for issuing Notice of Award, including extensions, shall not in the aggregate exceed 120 days from Bid due date without Surety’s written consent.

No suit or action shall commence under this Bond prior to 30 calendar days after the notice of default required in Paragraph 4 above is received by Bidder and Surety and in no case later than one year after Bid due date.

Any suit or action under this Bond shall be commenced only in a court of competent jurisdiction located in the state in which the Project is located.

Notices required hereunder shall be in writing and sent to Bidder and Surety at 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 or Certified Mail, return receipt requested, postage pre-paid, and shall be deemed to be effective upon receipt by the party concerned.

Surety shall cause to be attached to this Bond a current and effective Power of Attorney evidencing the authority of the officer, agent, or representative who executed this Bond on behalf of Surety to execute, seal, and deliver such Bond and bind the Surety thereby.

This Bond is intended to conform to all applicable statutory requirements. Any applicable requirement of any applicable statute that has been omitted from this Bond shall be deemed to be included herein as if set forth at length. If any provision of this Bond conflicts with any applicable statute, then the provision of said statute shall govern, and the remainder of this Bond that is not in conflict therewith shall continue in full force and effect.

The term “Bid” as used herein includes a Bid, offer, or proposal as applicable.

EJCDC No. C-430 (2002 Edition) Page 2 of 2 Prepared by the Engineers Joint Contract Documents Committee and endorsed By the Associated General Contractors of America and the Construction Specifications Institute.