PALP INC. DBA EXCEL PAVING COMPANY (3)

Home Browse Search

Bond No. The American Institute of Architects, AIA Document No. A310 (February, 1970 Edition) Bid Bond KNOW ALL MEN BY THESE PRESENTS, that we PALP Inc. dba Excel Paving Company as Principal hereinafter called the Principal, and Federal Insurance Company a, corporation duly organized under the laws of the state of Indiana 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 the total amount of the bid Dollars ($ 10% ), 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 Maple Bike Trail Safety Enhancements 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 famished 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. Signed and sealed this 26th day of August , 2014 PALP Inc, dba Excel Paving Company Witness ,pp Principal (Seal) By: C,� , P DROWN, PIIUMENT Name/Title Witness ORSC 21328 (5/97) Federal Insurance Company Surety (Seal) By: 0. A Dougl s A. Rapp Attorney -in -Fact