B-4 Bid Bond.docx

CLACKAMAS COUNTY

PUBLIC IMPROVEMENT CONTRACT

BID BOND

Project Name: # 2023-22 CBX Colorado and Gunderson Build

We, _____________________________________, as “Principal,” (Name of Principal) and __________________________________________, an _________________ Corporation, (Name of Surety) authorized to transact Surety business in Oregon, as “Surety,” hereby jointly and severally bind ourselves, our respective heirs, executors, administrators, successors and assigns to pay unto Clackamas County (“Obligee”) the sum of ($____________________________)

______________________________________________________________________ dollars.

WHEREAS, the condition of the obligation of this bond is that Principal has submitted its proposal or bid to an agency of the Obligee in response to Obligee’s procurement document (No. ) for the project identified above which proposal or bid is made a part of this bond by reference, and Principal is required to furnish bid security in an amount equal to ten (10%) percent of the total amount of the bid pursuant to the procurement document.

NOW, THEREFORE, if the Obligee shall accept the bid of the Principal and the Principal shall enter into a Contract with the Obligee in accordance with the terms of such bid, and give such bond or bonds as may be specified in the bidding or Contract Documents with good and sufficient surety for the faithful performance of such Contract and for the prompt payment of labor and material furnished in the prosecution thereof, or in the event of the failure of the Principal to enter such Contract and give such bond or bonds, if the Principal shall pay to the Obligee the difference not to exceed the penalty hereof between the amount specified in said bid and such larger amount for which the Obligee may in good faith contract with another party to perform the Work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect.

IN WITNESS WHEREOF, we have caused this instrument to be executed and sealed by our duly authorized legal representatives this ___________day of ______________________, 20____.

Principal:_______________________________________

By:____________________________________________ Signature

Official Capacity

Attest:__________________________________________ Corporation Secretary

Surety:________________________________________

By: Attorney-In-Fact

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Clackamas County Contract Form B-4 (1/2017) image1.png