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" <br />_• <br />KNOW ALL MEN BY THESE PRESENTS, that we Bannaoun Engineers Constructors Corporation as principal, <br />hereinafter called the "Principal," and SURETEC INSURANCE COMPANY, 9737 Great Hills Trail, Suite 320, <br />Austin, Tx 78759, as surety, hereinafter called the "Surety," are held and firmly bound unto City of Santa Ana as <br />obligee, hereinafter called the Obligee, in the sum of Ten Percent (10 %) of the Amount Bid by Principal for the <br />payment of which sum well and truly to be made, the said Principal and the said Surety, bind ourselves, our heirs, <br />executors, administrators, successors and assigns, jointly and severally, firmly by these presents. <br />WHEREAS, the principal has submitted a bid for Project No. 15 -6824 2014 -2015 Omnibus Concrete Replacement <br />Contract. <br />NOW, THEREFORE, if the contract be timely awarded to the Principal and the Principal shall within such time as <br />specified in the bid, enter into a contract in writing or, in the event of the failure of the Principal to enter into such <br />Contract, if the Principal shall pay to the Obligee the difference not to exceed the penalty hereof between the <br />amount specified in said bid and such larger amount for which the Obligee may in good faith contract with another <br />party to perform the work covered by said bid, then this obligation shall be null and void, otherwise to remain in full <br />force and effect. <br />PROVIDED, HOWEVER, neither Principal nor Surety shall be bound hereunder unless Obligee prior to execution <br />of the final contract shall furnish evidence of financing in a manner and form acceptable to Principal and Surety that <br />financing has been firmly committed to cover the entire cost of the project; and <br />PROVIDED, FURTHER, unless the bid documents require that bid security remain in effect for a longer period of <br />time, Surety shall have no liability hereon if a contract for the bid amount is not awarded to Principal within 60 days <br />of the date hereof. <br />SIGNED, sealed and dated this 5th day of August, 2014. <br />Bannaoun Engineers Constructors Corporation <br />(Principal) <br />a <br />BY: <br />TITLE: �Y Gsiolt rtC <br />SureTec Insurance Company <br />r <br />BY: ,�- <br />id , ttore`7C ney -in -Fact <br />SureTec Bid Bond Form Rev 1.1.06 <br />