Attachment C - BID SECURITY FORM.pdf

Macomb Township Attachment C

BID SECURITY FORM

Owner: Bid: 24-015 Macomb Township Bid Due Date: January 22, 2024 54111 Broughton Road Project: Insulation at Fire Stations 3 & 4 Macomb, Michigan 48042

Surety and Bidder, intending to be legally bound hereby, subject to the terms set forth below, do each cause this Bid bond to be duly executed by an authorized officer, agent, or representative.

Surety (Principal Place of Business): Bidder:

Surety’s Name of and Corporate Seal* Bidder’s Name and Corporate Seal*

Business Street Address* Business Street Address*

City, State, Zip * City, State, Zip *

By: By:

Signature Signature (Attach Power of Attorney)

By: By:

(Print Name*) (Print Name*)

Attest: Attest:

Signature Signature

Title* Title*

* Typed or printed in ink.

Bond:

Bond Number:

Date (Not later than Bid due date):

Penal Sum: $

(Words) (Figures)

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.

Macomb Township Attachment C

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 Bidder's Bid and the total amount of the Bid of the next lowest, responsible Bidder who submitted a responsive Bid as determined by Owner for the work required by the Contract Documents, provided that:

1.1. If there is no such next 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, and

1.2. In no event shall Bidder's and Surety's

obligation 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.

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 performance and payment bonds required by the Bidding 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 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 120 calendar days from Bid due date without Surety's written consent.

6. No suit or action shall be commenced 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.

7. Any suit or action under this Bond shall be commenced only in a court of competent jurisdiction located in Macomb County, Michigan.

8. Notices required hereunder shall be in writing and sent to Bidder and Surety at its 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 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.