BID BOND Project or Invitation to Bid Number ____________; date bid submitted ___________________ KNOW ALL PERSONS BY THESE PRESENTS THAT _______________________________, as Principal, hereinafter called Bidder; and _______________________________________ with general offices in _____________________________, a corporation organized under the laws of the State of ____, and authorized to transact business in the State of ____, as Surety, hereinafter called Surety; are held and firmly bound unto the City of Independence, Missouri, as Obligee, hereinafter called the City, in the penal sum of $____________________________ lawful money of the United States, for the payment of which sum, well and truly to be made, Bidder and Surety bind themselves, their successors, and assigns, jointly and severally, firmly by these presents. Signed, sealed, and delivered this _______________ day of ______________________, 20____. Whereas, Bidder has submitted a bid to the City dated __________________________, 20___ offered to enter into contract with the City for ______________________________________________________. NOW, THEREFORE, if the City shall accept the bid of the Bidder and the Bidder shall enter into a contract with the City 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 Bidder to enter such contract and give such bond or bonds, if the Bidder shall pay to the City the difference not to exceed the penalty hereof between the amount specified in said bid and such larger amount for which the City 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. IN TESTIMONY WHEREOF, the Bidder has caused these presents to be executed in its name and its corporate seal to be hereunto affixed by its duly authorized officers, and Surety has caused these presents to be executed in its name and its corporate seal to be hereunto affixed by its Attorney-in-Fact, duly authorized thereunto so to do, the day and year first above written. BIDDER (CORPORATE SEAL) By
SURETY By
ATTORNEY-IN-FACT
(CORPORATE SEAL)
(This bond shall be accompanied with Attorney-in-Fact's authority from Surety)