1994 AGN DEC 06 I30 - Laserfiche WebLink

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RELIANCE NATIONAL INDEMNITY COMPANY PHILADELPHIA, PENNSYLVANIA BID BOND KNOW ALL MEN BY THESE PRESENTS, that we D& B E1 ectri c, I nc . as Principal, hereinafter called the Principal, and the RELIANCE NATIONAL INDEMNITY COMPANY, a Wisconsin corporation, as Surety, hereinafter called the Surety, are held and firmly bound unto Ci ty of Col ton as Obligee, hereinafter calfed the Obligee, in the sum of Ten PerCent of the Amount Bi d**** payment of which sum well and truly to be made, the said PriDncipal and thef saiddSu et� f�bine ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal has submitted a bid for Constructi on of Approxi matel y 1. 3 miles of 66KV Transmission line, Using Both Wood and Steel Poles NOW, THEREFORE, if the contract be timely awarded to the Principal and the Principal shall within such time as specified in the bid, enter into a contract in writing and give bond with good and sufficient surety, or, in the event of the failure of the Principal to enter into 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. PROVIDED, HOWEVER, neither Principal nor Surety shall be bound hereunder unless Obligee prior to execution of the final contract shall furnish evidence of financing in a manner and form acceptable to Principal and Surety that financing has been firmly committed to cover the entire cost of the project. Signed and sealed this 15th day of d"'r /) A �.,.., « . f / 6 ( ' ss> . / /� BDP-2323 4/94 November 19 94 D & B Electric, Inc. (Principal) (Seal) � ��%� .�°� , (il�'. `,�i � � .� ' ��17L�' (Title) ��z�Cl.�`�� ��L'•� A IORiAL INDEMNITY COMPANY �" � r� . G . Par k (Attorney-in-Fact)