8 - Bid Bond - ATDM Building 2 General Construction Contractor (Ex F)(20591044.1).docx

EXHIBIT F

BID BOND

KNOW ALL PERSONS BY THESE PRESENTS: That_____________________________, the Contractor (“Principal”) whose principal place of business is located at _______________________ and______________________________, as surety (“Surety”), whose address for delivery of ‘Notices’ is _______________________________, are held and firmly bound unto the Institute for Advanced Learning and Research, a political subdivision of the Commonwealth of Virginia, the Owner (“Obligee”), in an amount equal to five percent (5%) of the Total Base Bid by the Principal, for the payment whereof the Principal and the Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, the Principal has submitted a Bid for the IALR Accelerated Training in Defense Manufacturing Facility – Building 2 General Construction Contract (IALR ITB No. 57639);

NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION are as follows: This Bid Bond shall guarantee that the Principal will not withdraw its bid during the period of sixty (60) days following the opening of bids; that if its bid is accepted, Principal will enter into a formal contract with the Owner in accordance with the Contract Documents referenced in the Invitation for Bids and Instructions to Bidders (“Contract”); that the Principal will submit a properly executed and authorized Performance Bond and Labor and Material Payment Bond (“Bonds”) on the forms included in the Contract Documents; and that in the event of the withdrawal of the Principal’s bid within said sixty (60) day period, or failure to enter into said Contract and give said Bonds upon the Owner’s issuance of a notice of award of the Contract, Principal and Surety shall be jointly and severally liable to the Owner for the difference between the amount specified in the Principal’s bid and such larger amount for which the Owner may contract with another party to perform the Work covered by said bid, up to the amount of the bid guarantee. This amount represents the damage to the Owner on account of the default of the bidder.

The Surety represents to the Principal and to the Obligee that it is a good and solvent surety company legally authorized to do business in the Commonwealth of Virginia.

Signed and sealed this _____ day of __________________, 2024.

_______________________________________ Surety (SEAL)

AFFIDAVIT AND ACKNOWLEDGEMENT OF ATTORNEY-IN-FACT

I, the undersigned notary public, do certify that___________________________, whose name is signed to the foregoing Bid Bond in the amount of five percent (5%) of the Total Base Bid and which names the Institute for Advanced Learning and Research, a political subdivision of the Commonwealth of Virginia, as Obligee, personally appeared before me today in the above-named jurisdiction and made oath that he/she is the attorney-in-fact of ___________________________________, a ___________________________ corporation, which is the Surety in the foregoing bond, that he/she is duly authorized to execute on the above Surety's behalf the foregoing bond pursuant to the Power of Attorney noted above and attached hereto, and on behalf of the surety, he/she acknowledged the foregoing bond before me as the above Surety’s act and deed.

She/he has further certified that her/his Power of Attorney has not been revoked.

[Complete if Power is recorded: Clerk’s Office: ______________________

Deed Book/Page No. or Instrument No.:__________________]

Given under my hand this _____ day of _____________, 2024

My name (printed) is: _____________________ My registration number is: ___________________ My commission expires: _____________________