BID BOND CITY OF EAST POINT, GEORGIA

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1 BID BOND CITY OF EAST POINT, GEORGIA BIDDER (Name and Address): SURETY (Name and Address of Principal Place of Business): OWNER (hereinafter referred to as the City (Name and Address): City of East Point 2777 East Point Street East Point, Georgia BID DUE DATE: BID TITLE: BID PROJECT (Brief Description Including Location): BOND NUMBER: BOND DATE (No later that Bid Due Date): PENAL SUM: (No less than ten percent of bid amount affixed on Bid Price Sheet) in words and figures: (Words) (Figures) IN WITNESS WHEREOF, Surety and Bidder, intending to be legally bound hereby to the City, 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 Bidder s Name and Corporate Seal (Seal) Surety s Name and Corporate Seal (Seal) Attest: Signature and Title Signature and Title Signature and Title (Attach Power of Attorney) Attest: Signature and Title Bid Bond Form Page 1 of 2 pages

2 Note: (1) Above addresses are to be valid for providing any notice(s) required by the terms of this Bid Bond. (2) Any singular reference to Bidder, Surety, the City or any other party shall be considered plural when and where applicable. 1. Bidder and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors and assigns to pay to the City upon Default of Bidder 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 of that time agreed to in writing by the City) 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: a. The City accepts Bidder s Bid and Bidder delivers within the time required by the Bidding Documents (or any extension of that time agreed to in writing by the City) the executed Agreement required by the Bidding Documents and any performance and payment Bonds required by the Bidding Documents; or b. All Bids are rejected by the City; or c. The City fails to issue a Notice of Award to Bidder within the time specified in the Bidding Documents (or any extension of that time 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 within 30 calendar days after receipt by Bidder and Surety of a written Notice of Default from the City, which Notice will be given with reasonable promptness and will identify this Bond and the Project and include a statement of the amount due. 5. Surety waives notice of, as well as any and all defenses based on or arising out of, any time extension to issue a Notice of Award agreed to in writing by the City and Bidder, provided that the total time, including extensions, for issuing a Notice of Award shall not in the aggregate exceed 120 days from Bid due date without Surety s written consent. 6. No suit or action shall be commenced under this Bond either prior to 30 calendar days after the Notice of Default required in paragraph 4 above is received by Bidder and Surety or 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 the State of Georgia. 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 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, offering or proposal, as is applicable under the particular circumstances 12. The terms of this Bid Bond shall be governed by the laws of the State of Georgia. Bid Bond Form Page 2 of 2 pages

3 PAYMENT BOND (Must equal one hundred percent of award amount) CITY OF EAST POINT, GEORGIA KNOW ALL MEN BY THESE PRESENTS THAT, as CONTRACTOR (hereinafter referred to as the Principal ) and as SURETY COMPANY (hereinafter referred to as the CONTRACTOR S SURETY ), are held and firmly bound unto the City of East Point, Georgia, as OWNER (hereinafter referred to as the City ), for the use and benefit of any Claimant as hereinafter defined in the sum of dollars and cents ($ ) lawful money of the United States of America, for the payment of which the Principal and the Contractor s Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal has entered, or is about to enter, into a certain written agreement with the City, dated, which is incorporated herein by reference in its entirety (hereinafter referred to as the CONTRACT ), for the construction of a project publicly known as Bid No , entitled (hereinafter referred to as the PROJECT ). NOW THEREFORE, the condition of this obligation is such, that if the Principal shall promptly make payment to any Claimant, as hereinafter defined, for any and all labor, services and materials used or reasonably required for use in the performance of the Contract, then this obligation shall be null and void; otherwise it shall remain in full force and effect. Payment Bond Form Page 1 of 3 pages

4 A Claimant shall be defined herein as any subcontractor, person, party, partnership, corporation and / or other entity furnishing labor, services and / or materials used and / or reasonably required for use in the performance of the Contract, without regard to whether such labor, services and / or materials were sold, leased or rented, and without regard to whether such Claimant is or is not in privity of the Contract with the Principal or any subcontractor performing work on the Project. In the event of any claim made by the Claimant against the City, or the filing of a Lien against the property of the City affected by the Contract, the Contractor s Surety shall either settle or resolve the Claim and shall remove any such Lien by bond and / or otherwise as provided in the Contract. The Parties further expressly agree that any action on this Bond may be brought within the time allowed by Georgia law for suit on Contracts under seal. Payment Bond Form Page 2 of 3 pages

5 IN WITNESS WHEREOF, the Principal and Contractor s Surety have hereunto affixed their corporate seals and caused this obligation to be signed by their duly authorized officers on this day of, 20. (Name of Principal) (SEAL) Title: Witness: Date: (Name of Contractor s Surety) (SEAL) Title: Witness: Date: (ATTACH SURETY S POWER OF ATTORNEY) Payment Bond Form Page 3 of 3 pages

6 PERFORMANCE BOND (Must equal one hundred percent of Contract award amount) CITY OF EAST POINT, GEORGIA KNOW ALL MEN BY THESE PRESENTS THAT, as CONTRACTOR (hereinafter referred to as the Principal ) and as SURETY COMPANY (hereinafter referred to as the CONTRACTOR S SURETY ), are held and firmly bound unto the City of East Point, Georgia, as OWNER (hereinafter referred to as the City ), for the use and benefit of any Claimant as hereinafter defined in the sum of dollars and cents ($ ) lawful money of the United States of America, for the payment of which the Principal and the Contractor s Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal has entered, or is about to enter, into a certain written agreement with the City, dated, which is incorporated herein by reference in its entirety (hereinafter referred to as the CONTRACT ), for the construction of a project publicly known as Bid No , entitled (hereinafter referred to as the PROJECT ). NOW THEREFORE, the conditions of this obligation are as follows: 1. That if the Principal shall fully and completely perform each and all of the terms, provisions and requirements of the Contract, including and during the period of any warranties or guarantees required thereunder, and all modifications, amendments, Performance Bond Form Page 1 of 3 pages

7 changes, deletions, additions, and alterations thereto that may hereafter be made; and if the Principal and the Contractor s Surety shall indemnify and hold harmless the City from any and all losses, liability and damages, claims, judgments, liens, costs and fees of every description, including but not limited to, any damages for delay, which the City may incur, sustain or suffer by reason of the failure or default on the part of the Principal in the performance of any and all of the terms, provisions and requirements of the Contract, including all modifications, amendments, changes, deletions, additions, and alterations thereto and any warranties or guarantees required thereunder, then this obligation shall be void; otherwise to remain in full force and effect; 2. In the event of a failure of performance of the Contract by the Principal, which shall include, but not be limited to, any breach of default of the Contract; a. The Contractor s Surety shall commence performance of its obligations and undertakings under this Bond no later than thirty (30) days after written notice from the City to the Contractor s Surety; b. The means, method or procedure by which the Contractor s Surety undertakes to perform its obligations under this Bond shall be subject to the advance written approval of the City. The Contractor s Surety hereby waives notice of any and all modifications, omissions, additions, changes and advance payments or deferred payments in or about the Contract, and agrees that the obligations undertaken by this Bond shall not be impaired in any manner by reason of any such modifications, omissions, additions, changes, and advance payments or deferred payments. The Parties further expressly agree that any action on this Bond may be brought within the time allowed by Georgia law for suit on contracts under seal. Performance Bond Form Page 2 of 3 pages

8 IN WITNESS WHEREOF, the Principal and Contractor s Surety have hereunto affixed their corporate seals and caused this obligation to be signed by their duly authorized officers on this day of, 20. (Name of Principal) (SEAL) Title: Witness: Date: (Name of Contractor s Surety) (SEAL) Title: Witness: Date: (ATTACH SURETY S POWER OF ATTORNEY) Performance Bond Form Page 3 of 3 pages

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