A-BidBond Perf Paymnt Bond - 2025 Road Improvements.pdf

BID BOND

BIDDER (Name and Address):

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

OWNER: Town of Berthoud

807 Mountain Avenue P.O. Box 1229 Berthoud, CO 80513

BID

Bid Due Date:

The work will include all necessary labor, supervision, equipment, tools, and material to meet the 2025 Berthoud Road Improvements Project as provided per bid items.

The 2025 Berthoud Road Improvements Project consists of asphalt mill and overlay of multiple roadways, one alley reconstruction, and a curb-gutter-sidewalk project at Spartan Ave. Additional curb, gutter, drain pan, and sidewalk work adjacent to roadway improvements is also included in the project.

BOND

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)

Bidder’s Name and Corporate Seal Surety’s Name and Corporate Seal (Seal)

By: By:

Signature and Title Signature and Title (Attach Power of Attorney)

Attest: Attest:

Signature and Title Signature and Title

NOTE: (1) Above addresses are to be used for giving required notice.

(2) Any singular reference to Bidder, Surety, OWNER, or other party shall be considered plural where applicable.

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 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.

1.2. In no event shall Bidders and Surety’s obligations 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 Construction Performance and Construction Payment Bonds required by the Bidding Documents and Contract Documents, or

3.2. All bids are rejected by OWNER, or

3.3. 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).

4. Payment under this Bond will be due and payable upon default by Bidder and within thirty (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.

5. 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 one hundred twenty (120) days from Bid Due Date without Surety’s written consent.

6. No suit or action shall be commenced under this Bond before thirty (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 (1) year after Bid Due Date.

7. 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.

8. 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.

9. 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.

10. 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 provision of 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.

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

PERFORMANCE BOND

State of

, as Principal (“Contractor”), and _, as Surety (“Surety”), with general offices in

, a corporation organized under the laws of the and authorized to transact business in the State of Colorado, are hereby bound unto the Town of Berthoud, Colorado, as Obligee (“Town”), in the penal sum of Dollars

($ ) in United States currency for the payment of which sum the Contractor and the Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally.

WHEREAS, the Contractor has entered into a written construction contract with the Town dated , 2025, for 2025 Berthoud Road Improvements Project (“Contract”), attached hereto and incorporated herein by reference.

NOW, THEREFORE, the conditions of this performance bond are such that, if the Contractor shall satisfactorily perform the Contract, then this performance bond shall be null and void; otherwise it shall remain in full force and effect.

In addition to the other conditions hereof, this performance bond shall satisfy all provisions and conditions set forth in C.R.S. §§ 38-26-105 and 106, as amended.

THE UNDERSIGNED SURETY, for value received, hereby agrees that no extension of time, change in, addition to, or other modification of the terms of the Contract or work to be performed thereunder or of the specifications of the contract documents shall in any way affect its obligation on this performance bond, and the Surety does hereby waive notice of any such extension of time, change, addition, or modification.

Any action against the Surety on this performance bond shall be brought no later than two (2) years from the date fixed for final settlement of the Contract.

IN WITNESS WHEREOF, the parties have executed this performance bond as of the date first above written.

CONTRACTOR:

By:

Title:

ATTEST: (if corporation)

Corporate Secretary

SURETY:

Attorney-in-Fact

ATTEST:

PAYMENT BOND

, as Principal (“Contractor”), and

State of

_, as Surety (“Surety”), with general offices in , a corporation organized under the laws of the and authorized to transact business in the State of Colorado, are hereby bound unto the Town of Berthoud, Colorado, as Obligee (“Town”), in the penal sum of Dollars

($ ) in United States currency for the payment of which sum the Contractor and the Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally.

WHEREAS, the Contractor has entered into a written construction contract with the Town dated , 2025, for 2025 Berthoud Road Improvements Project Contract”), attached hereto and incorporated herein by reference.

NOW, THEREFORE, the conditions of this payment bond are such that, if the Contractor shall at all times promptly make payments of all amounts lawfully due to all persons supplying or furnishing it or its subcontractors with labor, material, rental machinery, tools, or equipment used or performed in the prosecution of the work provided for in the Contract and shall indemnify and save harmless the Town to the extent of any payments in connection with the performance of such subcontracts that the Town may be required to make under law, then this obligation shall be null and void; otherwise it shall remain in full force and effect.

In addition to the other conditions hereof, this payment bond shall satisfy all provisions and conditions set forth in C.R.S. §§ 38-26-105 and 106, as amended.

THE UNDERSIGNED SURETY, for value received, hereby agrees that no extension of time, change in, addition to, or other modification of the terms of the Contract or work to be performed thereunder or of the specifications of the contract documents shall in any way affect its obligation on this performance bond, and the Surety does hereby waive notice of any such extension of time, change, addition, or modification.

Any action against the Surety on this payment bond shall be brought no later than two (2) years from the date fixed for final settlement of the Contract.

IN WITNESS WHEREOF, the parties have executed this payment bond as of the date first above written.

CONTRACTOR:

Title:

ATTEST: (if corporation)

SURETY:

Attorney-in-Fact

ATTEST: