R2022-75 Resolution Accepting the Bid and Authorizing the Execution of a Contract with E.L. Pruitt Co. for 2022 Storm Drainage Improvement Project

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AIA Document A3 l Otm - 2010 1 Bid Bond Contractor: Surety: ' (Name, Legal Status and Address) (Name,Legal Status and Principal Place of Business) EL Pruitt Company Travelers Casualty and Surety Company of America PO Box 3306 One Tower Square Springfield IL 62708 Hartford CT 06183-6014 ADDITIONS AND DELETIONS: ' The author of this document has added Owner: information needed for its completion. (Name,Legal Status and Address) The author may also have revised the ' Treasurer,City of Decatur text of the original AIA standard form. An Additions and Deletions Report 1 Gary K Anderson Plaza that notes added information as well as Decatur IL 62523 revisions to the standard form text is ' available frorn the author and should Bond Amount: Ten percent of bid be reviewed. A vertical line in the left Project: margin of this document indicates (Name, location or address,and Project number, 1fany) where the author has added necessary ' 2022 Storm Drainage Improvements information and where the author has added to or deleted from the original AIA text. The Contractor and Surety are bound to the Owner in the amount set forth above,for the ' payment of which the Contractor and Surety bind themselves,their heirs,executors, The document has important legal administrators,successors and assigns,jointly and severalty,as provided herein. The consequences. Consultation with an conditions of this Bond are such that if the Owner accepts the bid of the Contractor within attorney is encouraged with respect to the time specified in the bid documents,or within such time period as may be agreed to by its completion or modification. the Owner and Contractor,and the Contractor either(1)enters into a contract with the Owner in accordance with the terms of such bid,and give such bond or bonds as may be Any singular reference to Contractor, Surety, be Specified in the bidding or Contract Documents,with a sure admitted in the 'urisd cconssididtion Owner other party shall. of the Project and otherwise acceptable to the Owner,for the faithful performance of such considered pluraall where applicable. Contract and for the prompt payment of labor and material furnished in the prosecution thereof,or(2)pays to the Owner the difference,not to exceed the amount of this Bond, between the amount specified in said bid and such larger amount for which the Owner may ' in good faith contract with another party to perforin the work covered by said bid,then this obligation shall be null and void,otherwise to remain in full force and effect. The Surety hereby waived any notice of an agreement between the Owner and Contractor to extend the time in which the Owner may accept the bid. Waiver of notice by the Surety shall not apply ' to any extension exceeding sixty(60)days in the aggregate beyond the time for acceptance of bids specified in the bid documents,and the Owner and Contractor shall obtain the Surety's consent for an extension beyond sixty(60)days. ' If this Bond is issued in connection with a subcontractor's bid to a Contractor,the term Contractor in this Bond shall be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor. When this Bond has been furnished to comply with a statutory or other legal requirement in the location of the Project,any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conforming to such ' statutory or other legal requirement shall be deemed incorporated herein. When so furnished,the intent is that this Bond shall be construed as a statutory bond and not as a common law bond. ' AIA Document A310—2010tm The American Institute of Arelritects (Converted to form by First Mid Insurance Group) t