1995-03-17_GENERAL DOCUMENTS - C1981048 (4)

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Y • p V-J goad PROJECT NO. PROJECT: KNOW ALL MEN BY THESE PRESENTS: WHEREAS, hereinafter called the "PRINCIPAL", is <-ubmiting a PROPOSAL for the above described project, to the STATE OF COLORADO, hereinafter called the "OBLIGEE". WHEREAS, the Advertisement for Bids has required as a condition of receiving the Proposals that the Principal submit with the PROPOSAL a PROPOSAL GUARANTY in an amount not less than five per cent (5`,0) of the Proposal, which sum it is specifically agreed is to be forfeited as Liquidated Damages in the event that the Principal defaults in his obligations as hereinafter specified, and, in pursuance of which Requirement, this Bid Bond is made, executed and delivered. NOW, THEREFORE, the Principal and a corporation of the State of duly authorized to transact business in Colorado, as Surety, are held and firmly bound into the Obligee, in the sum of five per cent (S l) of the Principal's total bid price, lawful money of the United States for +ne payment of which sum, well and truly to be made to the Obligee, we bind ourselves, our heirs, executors, ad- ministrators, successors and assigns, jointly and severally, firmly by these presents. FURTHER THAT, a condition of this obligation is such that the Principal shall maintain his Proposal in full force and effect for thirty (30) days after the opening of the proposals for the rroiect, or, if the Principal's Proposal is accepted, the Principal shall, within the prescribed time, execute the required Agreement, furnish the required Performance Bond, Labor and Material Payment Bond, Insurance Policy, and Certificates of Insurance, then this obligation shall be nul: and void, otherwise it shall remain in full force and effect, and subject to forfeiture upon demand as Liquidated Damages. IN WITNESS WHEREOF said Principal and Surety have executed this Bond, this day of A.D., 19 . (Corporate Seal) THE PRINCIPAL ATTEST: Address By Secretary SIGNATURES: If the "Principal" is doing business as a Corporation, the Bid Bond shall be signed by an officer, i.e.. President or Vice- President. The signature of the officer signing shall be attested to by the Secretary and properly sealed. If the "Principal" is an individual or a partnership, the Bid Bond shall so indicate and be properly signed. (Corporate Seal) THE SURETY By Attorney-in-Fact THIS BOND MUST BE ACCOMPANIED BY POWER OF ATTORNEY, EFFECTIVELY DATED State Form SC-6.14 Issued 9/1/65 (Rev. 7/1/701 i�