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Houlton Conservation Area Bank Protection — Mississippi Site <br />Elk River, Minnesota <br />a) If said BID shall be rejected, or <br />b) If said BID shall be accepted and the Principal shall execute and deliver a contract in <br />the Form of Contract attached hereto (properl�T completed in accordance with said <br />BID) and shall furnish a BOND for his faithful performance of said contract, and for <br />the payTment of all persons performing labor or furnishing materials in connection <br />therewith, and shall in all other respects perform the agreement created by the <br />acceptance of said BID, then this obligation shall be void, other�vise the same shall <br />remain in force and effect; it being expresslyT understood and agreed that the liabilityT <br />of the Surety- for any and all claims hereunder shall, in no event, exceed the penal <br />amount of this obligation as herein stated. <br />The SuretyT, for value received, herebyT stipulates and agrees that the obligations of said SuretyT and its <br />BOND shall be in no `vay impaired or affected byT anyT extension of the time �vithin which the <br />OWNER mayT accept such BID; and said SuretyT does herebyT waive notice of any such extension. <br />IN WITNESS WHEREOF, the Principal and the SuretyT have hereto set their hands and seals, and <br />such of them as are corporations have caused their corporate seals to be hereto affixed and these <br />presents to be signed byT their proper officers, the dayT and yTear first set forth above. <br />Principal <br />Suret�T <br />C <br />(L. S.) <br />Note: Date of Bond must not be prior to date of Contract. If Contractor is parmership, all partners <br />should execute Bond. <br />Important: SuretyT companies executing Bonds must appear on the TreasuryT Department's most <br />current list (Circular 570 as amended) and be authorized to transact business in the <br />state wheYe the project is located. <br />End of Section <br />: � :• � <br />