R2018-65 Accepting the Bid and Authorizing the Execution of a Contract with A. C. Pavement Striping Company for Microsurfacing CP 2018-24

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t Local Agency INNinoNS t Proposal Bid Bond Route Various County Macon ' RETURN WITH BID Local Agency City of Decatur Section 18-00824-00-SC PAPER BID BOND ' WE A.C. Pavement Striping Co. 695 Church Road, Elgin, IL 60123 as PRINCIPAL, and International Fidelity Insurance Company One Newark Center, Newark, NJ 07102-5207 as SURETY, t are held jointly,severally and firmly bound unto the above Local Agency(hereafter referred to as"LAI In the penal sum of 5%of the total bid price,or for the amount specified in the proposal documents in effect on the date of Invitation for bids whichever is the lesser sum. We bind ourselves,our heirs, executors,administrators,successors,and assigns,jointly pay to the to this sum under the conditions of this Instrument. WHEREAS THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that,the said PRINCIPAL is submitting a written proposal to the LA acting ' through its awarding authority for the construction of the work designated as the above section. THEREFORE if the proposal is accepted and a contract awarded to the PRINCIPAL by the LA for the above designated section and the PRINCIPAL shall within fifteen(15)days after award enter into a formal contract,fumish surety guaranteeing the faithful performance of the work,and fumish evidence of the required Insurance coverage,all as provided in the"Standard Specifications for Road and Bridge Construction'and applicable Supplemental ' Specifications,then this obligation shad become void;otherwise it shag remain In full force and effect IN THE EVENT the LA determines the PRINCIPAL has failed to enter into a formal contract in compliance with any requirements set forth in the preceding paragraph,then the LA acting through its awarding authority shag Immediately be entitled to recover the fug penal sum set out above,together with all court costs,all attorney fees,and any other expense of recovery. ' IN TESTIMONY WHEREOF,the said PRINCIPAL and the said SURETY have caused this Instrument to be signed by their respective officers this 23rd day of May, 2018 Principal ' A.C. Pavemp4yt Striping Co. (Compftny Name) (Company Name) By: By: William rin I rporate Secretary (Signature and Title) (Zsignature (if PRINCIPLE is a joint venture of two or more contractors,the company names,a au ignatures of contractor mu ) Surety �\� OP��G� International Fidelity Insurance Company By: a SEAL f ' (Nam°rs' ri) William T. Krumm (s' c) STATE OF COUNTY OF ' 1. See Attached ,a Notary Public In and for said county, do hereby certify that William Brinati and William T. Krumm (Insert names of Individuals signing on behalf of PRINCIPAL&SURETY) who are each personalty known to me to be the same persons whose names are subscribed to the foregoing Instrument on behalf of PRINCIPAL and ' SURETY,appeared before me this day in person and acknowledged respectively,that they signed and delivered said instruments as their free and voluntary act for the uses and purposes therein set forth. Given under my hand and notarial seal this 23rd day of May, 2018 My commission expires See Attached (Notary Public) ELECTRONIC BID D Electronic bid bond is allowed(box must be checked by LA if electronic bid bond is allowed) ' The Principal may submit an electronic bid bond,in lieu of completing the above section of the Proposal Bid Bond Form. By providing an electronic bid bond!D code and signing below,the Principal is ensuring the identified electronic bid bond has been executed and the Principal and Surety are firmly bound unto the LA under the conditions of the bid bond as shown above. (If PRINCIPAL is a joint venture of two or more contractors,an electronic bid bond ID code,company/Bidder name title and date must be affixed for each ' contractor in the venture.) Electronic Bid Bond ID Code (Company/Bidder Name) ' (Signature and Title) Date ' Page 1 of i BLR 12231)(Rev.7/05) t