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East Fiber Extension <br /> Elk River, Minnesota <br /> <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 (properly completed in accordance with said <br />BID) and shall furnish a BOND for his faithful performance of said contract, and <br />for the payment of all persons performing labor or furnishing materials in <br />connection therewith, and shall in all other respects perform the agreement created <br />by the acceptance of said BID, then this obligation shall be void, otherwise the same <br />shall remain in force and effect; it being expressly understood and agreed that the <br />liability of the Surety for any and all claims hereunder shall, in no event, exceed the <br />penal amount of this obligation as herein stated. <br /> <br />The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its <br />BOND shall be in no way impaired or affected by any extension of the time within which the <br />OWNER may accept such BID; and said Surety does hereby waive notice of any such extension. <br />IN WITNESS WHEREOF, the Principal and the Surety have hereto set their hands and seals, <br />and such of them as are corporations have caused their corporate seals to be hereto affixed and <br />these presents to be signed by their proper officers, the day and year first set forth above. <br /> (L.S.) <br />Principal <br />Surety <br />By: <br />Note: Date of Bond must not be prior to date of Contract. If Contractor is partnership, all <br />partners should execute Bond. <br /> <br />Important: Surety companies executing Bonds must appear on the Treasury Department's most <br />current list (Circular 570 as amended) and be authorized to transact business in the <br />state where the project is located. <br />End of Section <br />BID BOND 00430 -2 <br /> <br />