Addendum 1.pdf

Addendum 1 is an official document issued by the Town of Dudley, Massachusetts, specifically addressing bid bond requirements for a building construction contract under M.G.L. c. 149. The addendum clarifies bonding specifications for the Tobin Farms Estates Betterment Program, outlining three key bond requirements: a bid bond of 5% of the total bid or sub-bid value, a 100% performance bond if the bid is awarded, and a 100% payment bond if the bid is awarded.

The document is part of a municipal infrastructure project valued at $401,000, focused on preparing a residential subdivision for potential layout and acceptance as public ways. The project involves comprehensive site improvements across multiple streets, including roadway construction, drainage systems, and infrastructure enhancements. While the addendum itself does not provide extensive project details, it is a critical component of the bidding process that establishes the financial guarantees required from potential contractors to ensure project completion and payment to subcontractors and suppliers.