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<br />OtJ/I ::tnOUtJ 1 tJ:~:.:l I- AX ::ftJ4~ 1 (1 (28 <br /> <br />SILTEK.GROUP.INC. <br /> <br />~ 004/004 <br /> <br />18111 ACTIVE PARK <br /> <br />1. Bidder Ilnd SW8ty, Iolndy and &8118l11ny, bind <br />themselves, their helm. aaecutom, aClmlnlatralOl'I, <br />successors and assigns 10 pay to OWner upon detaun 0' <br />BIClCler eny dlfferenoe between the to., amount Qf Bladets <br />bid and !he total amount of the bid of the next lowest. <br />responBlble and ..pensive bidder.. dstennlnecf by Owner <br />for the Work required by the Contract Documenta, pn:ntlcled <br />that <br />1.1. I' Ihere It no euch next lowest, responsible .n~ <br />responsive b1dcfer. and Owrler does not <br />abandon the Prelect, then Bidder IIr1d Su~ <br />ahllll pay to OVw1er the penal sum set forth ~ <br />!he flKl8 of this Bond, and <br />1.2. In no e\lent shall Bidder's and Sl,Irety'a cOllgatlon <br />hereunder uceed tie penal $um set forth on <br />tI'Ie fIIee of thla Bond, <br /> <br />2. Default of Bidder shall occur upon the failure 0' Bidder <br />to dell~er wIlhln the time required by the BiddIng Documenl8 <br />(or any elCt8l1elon lhereof agreeCIlo In writing by Owner) the <br />executed Agreement required by tt'II' Bidding Dooumenlll <br />and any pertonnance and payment bonds requln:td by the <br />Bidding DOCIumBnta and ContraCll Dooum..,... <br /> <br />3. lhla obligation IIhall .. null and void If: <br />3.1. OWner ac:ceptB Bldder'tl bid and BIdder dellv818 <br />witnln the time required by tn. Bidding <br />Dool6l\entB (or any extenelon thereof agreed 10 <br />In wrIl1ng by Owner) tt1e executed Agreement <br />requIred by the Bldalng Oooum.nra and any <br />performance and payment bonda required by <br />the Bidding Documlnl8 and Contract <br />Documents, or <br />3.2. All blcl8 are rejfldBd by Owner, or <br />3.3. OVtTler 'elle to laaue I notice of llward to Bidder <br />within !he time specified In Ihe Bidding <br />OQOl.lmen18 (or any extenlllon the....of agreed 10 <br />In writing by BIdder and, If appllcable, consented <br />to by Surety when requIred by paraglllph 5 <br />heraaf). <br /> <br />4. Peyrntnt under this Bond wlR be C1l,1e .net payable <br />upon default by Bidder and wlltlln 30 calendar days after <br />receipt by Bidder lIIld within 30 ~I.ndtlr days after reoelpt <br />by Bidder and Surety of written notice of default flOm Owner. <br />which notice will be glvan with lelSSOnable promptne9A, <br />Identifying this Bond end the Project end Including a <br />statement of the amount dLla. <br /> <br />APRIL 10,2005 <br /> <br />5. Surety waives notice 0' and any and Iilll d.rensllB <br />baaed an Or .r1elng out of any time exr.nman tI) IMUe "OIioe <br />of award agl88d to In writIng by Owner and Bidder, provided <br />ll1at tho total tlm. for ".ulng notloe of award Including <br />extensions ahan not In the aggregate exceed 120 ally. from <br />Bid Ololl Data without Surety'a wrttten coneent. <br /> <br />8. No suit or action shall be commenced under thle Bond <br />prior to 90 oalendar daye after tne notloe of lietault required <br />In paragraph 4 abovB Ia received by BIdder af1d Surety and <br />In no caae later than on. year after Bid Due Dale. <br /> <br />7. Any suit or lICtIon I,Incler lhlt Bond sM11 be <br />oammenoed only In a court of competenl Jur1l1dlotlon located <br />In the s1ate in which the PlOJect Is locatud. <br /> <br />8. Notlcee required hereunder IIhall be In writing and <br />sent to Bidder and Surety 81 their relpel:tlve lIdQresses <br />shown on the 1808 CJlIhIS Bond. Such notlcaa may be 8enl <br />by personal delivery, commercial col,ll'\er or ~ UnltBd States <br />F1eglster8d or Cer1lfled Mall, retum receipt requeeteCl. <br />po$tage pre-pald, and shall be deemed to be efffjlCtJve upon <br />receipt by the party concemed. <br /> <br />8. Surety IlIhall cause to be attached to !hie Bond a <br />current and effeatJve Pow8r of Attomey 8vld~lf'Ig the <br />authority of tha offlcer, agent or representative ~ executed <br />. thle Bone! on behalf of Su~ty to execute, seal IInd deliver <br />&uchBond al"ld bind the Surety thereby. <br /> <br />1 O. This Bond Is Intended to aOf\forrn to all lll:lpliaable <br />statutory reqUirements. Any applicable requlremeot of Bny <br />applicable statute that has been omltred from thl8 Bond thllll <br />be deemed to be Included herein ae If set forth at len~. If <br />Iny provision of thle Bond aonfllotl with IIny Ippllolbl. <br />provision of this Bond confllctB wllhany appllcabl8 prOVision <br />Of any appllOabl8 statut., then 'he provlalon or &aId atatUle <br />shaD govem and the remali'lder of thIe Band 1hIlt Is not In <br />confllQt therewith shaQ ClO/ltinl,l8 In full forct ~ Mftot. <br /> <br />11. The term "bid" as used herein Ir1cILda 1\ bid, off. Or <br />proposal... appllOAble. <br /> <br />BID BOND <br /> <br />00401-2 <br />