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Bid Bond <br />KNOW ALL MEN BY THESE PRESENTS, that we McKenzie Excavating Inc. <br />(Here insert full name and address or legal title of Contractor) <br />as Principal, hereinafter called the Principal, and North American Specialty Insurance Company <br />(Here insert full name and address or legal title of Surety) <br />a corporation duly organized under the laws of the State of New Hampshire <br />as Surety, hereinafter called the Surety, are held and firmly bound unto <br />(Here insert full name and address or legal title of Owner) <br />City of Eugene <br />as Obligee, hereinafter called the Obligee, in the sum of <br />Ten percent of total amount bid----------- H, ~i, if <br />Dollars($ 10% <br />for the payment of which sum well and truly to be made, the said Principal and the said Surety, bind <br />ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by <br />these presents. <br />WHEREAS, the Principal has submitted a bid for <br />Pavement Preservation Program / Job 4686 <br />2010 Local Street Repairs at various locations <br />(Here insert full name, address and description of project) <br />NOW, THEREFORE, if the Obligee shall accept the bid of the Principal and the Principal shall enter into a Contract <br />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 <br />Contract Documents with good and sufficient surety for the faithful performance of such Contract and for the prompt payment <br />of labor and material furnished in the prosecution thereof, or in the event of the failure of the Principal to enter such <br />Contract and give such bond or bonds, if the Principal shall pay to the Obligee the difference not to exceed the penalty hereof <br />between the amount specified in said bid and such larger amount for which the Obligee may in good faith contract with <br />another 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 />Signed and sealed this <br />May <br />2010 <br />McKen ' Excavating Inc. <br />(Princip 1) (Seal) <br />vLU/u3G--~5-- <br />(Title) <br />North American Specialty Insurance <br />(Seal) <br />Rebecca Gwynn, <br />This <br />4th day of <br />act <br />complies with the requirements of American Institute of Architects foam AIA document A310 <br />