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D/1 <br />' FORM OF BID BOND <br />Contract No. 78-1 <br />BID BOND <br />KNOW ALL MEN BY THESE PRESENTS, That we the undersigned, <br />(Name of Principal <br />as FkI�CIPAL, and <br />as SURETY <br />(Name of Surety <br />are held and firmly bound unto the CITY OF LITTLE CANADA, IViINNESOTA, <br />hereinafter called the City, in the penal sum of <br />100 DOLLARS ($ , <br />lawful money of the United States, for the payment of which sum well <br />and truly to be made, we bind ourselves, our heirs, executors, admini- <br />strators, successors, and assigns, jointly and severally, firmly by <br />these presents. <br />THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the Principal <br />has submitted the accompanying Bid, dated , 19 , <br />for <br />( Contract Name and Number) <br />iWl THEREFORE, if the Principal shall not withdraw said Bid within the <br />period specified therein after the opening of the same, or, if no <br />period be specified, within sixty (60) days after the said opening, and <br />shall within the period specified therefor, or, if no period be speci- <br />fied within ten (10) days after the prescribed forms are presented to <br />him for signature, enter into a written contract with the City in <br />accordance with the Bid as accepted, and give bond with good and <br />sufficient surety or sureties, as may be required, for the faithful <br />performance and proper fulfillment of such Contract; or in the event <br />of the withdrawal of said Bid within the period specified, or the fail- <br />ure to enter into such Contract and give such bond within the time <br />specified, if the Principal shall pay the City -the difference between <br />the amount specified in said Bid and the amount for which the City may <br />procure the required work or supplies or both, if the latter amount be <br />in excess of the former, then the above obligation shall be void and of <br />no effect, otherwise to remain in full force and virtue. <br />IiN� lit ITNESS WHEREOF, the above -bounden parties have executed this <br />instrument under their several seals this day of , <br />19 , the name and corporate seal of each corporate party being hereto <br />affixed and these presents duly signed by its undersigned representative, <br />pursuant to authority of its governing body. <br />:executed in presence of: <br />(SEAL) <br />(Individual or Corporate Principal) <br />Business Address <br />• (SEAL) <br />individual or Corporate Principal) <br />Eusiness Address <br />