Bid Bond - Limited Liabiliy Company.pdf

Bid Bond Page-1 effective date: May 1, 2018

Bid Bond

Bond No. __________________

We, _______________________________ as Principal, hereinafter called the Principal, and ____________________________, a corporation duly organized under the laws of the State of __________________, as Surety, hereinafter called the Surety, are held and firmly bound unto the State of Maryland, hereinafter called "State", for the sum of _______________________________________ for the payment of which sum, the Principal and the Surety bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, the Principal has submitted a bid for (Identify project by number and brief description):

NOW, THEREFORE, if the Principal, upon acceptance by the State of its bid identified above, within the period specified therein for acceptance (ninety (90) days, if no period is specified), shall execute such further contractual documents, if any, and give such bond(s) as may be required by the terms of the bid as accepted within the time specified (ten (10) days if no period is specified) after receipt of the forms, or in the event of failure so to execute such further contractual documents and give such bonds, if the Principal shall pay the State the difference not to exceed the penalty hereof between the amount specified in Principal's bid and such larger amount for which the State may in good faith contract with another party to perform the work covered by said bid, then the above obligation shall be void and of no effect.

The Surety executing this instrument hereby agrees that its obligation shall not be impaired by any extension(s) of the time for acceptance of the bid that the Principal may grant to the State, notice of which extension(s) to the Surety being hereby waived; provided that such waiver of notice shall apply only with respect to extensions aggregating not more than ninety (90) calendar days in addition to the period originally allowed for acceptance of the bid.

Individual Principal (Managing Member of LLC)

In Presence of:

Witness

(Name) as to (SEAL)

Partnership Principal

In Presence of:

Witness

(Name) as to (SEAL) Partner as to (SEAL) Partner as to (SEAL) Partner

Bid Bond Page-2 effective date: May 1, 2018

Corporate Principal

Attest: (Name of Corporation) AFFIX

SEAL

By:

Secretary President

Attest: (Surety)

By:

Attorney-in-fact AFFIX

SEAL

Bonding Agent’s Name

Agent’s Address:

Approved as to form and legal sufficiency this ____ day of _____ 20___

Assistant Attorney General

Bid Bond