BANNAOUN ENGINEERS CONSTRUCTORS CORP. (2)

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f3l SAFECO' FIRST NATIONAL SURETY BID BOND Conforms with The American Institute of Architects, A.I.A. Document No. A -310 SAFECO Insurance Company PO Box 34526 Seattle, WA 98124 -1526 KNOW ALL BY, THESE PRESENTS, That we, BANNAOUN ENGINEERS CONSTRUCTORS CORPORATION and the FIRST NATIONAL INSURANCE COMPANY OF AMERICA ATTN: SURETY CLAIMS DEPARTMENT of 1001 4TH AVENUE, SUITE 1700, SEATTLE, WA 98154 as Principal, hereinafter called the Principal, , a corporation duly organized under the laws of the State of Washington , as Surety, hereinafter called the Surety, are held and firmly bound unto CITY OF SANTA ANA as Obligee, hereinafter called the Obligee, in the sum of TEN PERCENT OF GREATER AMOUNT BID---------------------------------------- - - - - -- Dollars ($ 10% of Bid Amount ) , for the payment of which sum well and truly to be made, the said Principal and the said 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 FIRST STREET REHABILITATION FROM GRAND AVENUE TO 1 -5 PROJECT NO. 116735 NOW, THEREFORE, if the Obligee shall accept the bid of the Principal and the Principal shall enter into a Contract with the Obligee in accordance with the terms of such bid, and give such bond or bonds as may be specified in the bidding or Contract Documents with good and sufficient surety for the faithful performance of such Contract and for the prompt payment of labor and material furnished in the prosecution thereof, or in the event of the failure of the Principal to enter such Contract and give such bond or bonds, if the Principal shall pay to the Obligee the difference not to exceed the penalty hereof between the amount specified in said bid and such larger amount for which the Obligee may in good faith contract with another party to perform the Work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect. i } Signed and sealed this 29TH day of November 2010 BANNAOUN ENGINEERS CONSTRUCTORS CORPORATION (Seal) ( k Principal Witness 1 OMPdL. Title FIRST NATIONAL INSURANCE COMPANY OF AMERICA II}} ��/ Witness { By / /� CL'(`JCG� MARK D. IATAROLA, Attorney -in -Fact r4irrvtr Iuuu ® A registered trademark of SAFECO Corporation FRP