99-24 Exhibit to Temporary Extension Agreement.pdf

the Contract Contract by by both parties. both parties. 1.09 1.09 Insurance Insurance 1.09.1 1.09.1 Before commencing Before commencing work, work, the the respondent respondent shall shall furnish furnish the the Township Township of of West Orange with West Orange with insurance insurance certificate certificate copies copies providing providing evidence evidence ofof coverage. The coverage. The Insurance Insurance requirements requirements are are specified specified in in Section Section 2.24, 2.24, Performance Bond Performance Bond and and Insurance. Insurance. 1.09.2 1.09.2 The Respondent The Respondent shall shall maintain maintain the the above above coverage coverage in in

the above above coverage coverage in in force force for for the the duration of duration of the the contract. contract. 1.09.3 1.09.3 The coverages The coverages under under Section Section 2.24 2.24 shall shall be be endorsed endorsed toto include include the the Township of Township of West West Orange Orange as as additional additional insured insured for for the the duration duration of of the the Contract. Contract. 1.10 1.10 Bid Proposal Bid Proposal Security Security 1.10.1 1.10.1 Each proposal Each proposal must must be be accompanied accompanied by by aa bid bid security security in in the

bid security security in in the the form form of of aa certified certified check from check from the the Respondent, Respondent, oror aa “bid “bid bond” bond” supplied supplied by by the the responding responding party party oror its third-party its third-party company, company, and and duly duly executed executed by by the the Respondent Respondent as as principal principal andand byby aa reputable reputable surety company rated A+ or better by A.M. Best Company’s surety company rated A+ or better by A.M. Best Company’s 11 11

Insurance Rating, Insurance Rating, licensed licensed to to do do business business under under the the laws laws ofof and and in in the the State State of of New Jersey New Jersey and and satisfactory satisfactory to to the the Township Township ofof West West Orange, Orange, as as Surety. Surety. The The amount of amount of the the bid bid security security shall shall bebe ten ten (10%) (10%) percent percent of of the the Total Total Contract

the Total Total Contract Contract Amount indicated Amount indicated in in the the Proposal Proposal Form, Form, not not to to exceed exceed $20,000. $20,000. 1.10.2 1.10.2 The bid The bid security security will will be be held held byby the the Township Township of of West West Orange Orange as as security security for fulfillment for fulfillment of of the the Respondent’s Respondent’s Promises, Promises, as as set set forth forth inin this this Proposal, Proposal, that it that it will will not not withdraw withdraw thethe Proposal Proposal while

will not not withdraw withdraw thethe Proposal Proposal while while itit is is being being considered considered and and that that itit will will execute execute the the Contract Contract and and furnish furnish all all required required bonds, bonds, insurances, insurances, and other and other documentation documentation required required within the specified within the specified time, time, shall shall forfeit forfeit the bid the bid security. security. 1.10.3 1.10.3 The Respondent The Respondent to to which the Contract which the Contract has has been been awarded, awarded, upon upon his

warded, awarded, upon upon his his failure failure or refusal or refusal toto execute execute the the Contract Contract or or to to deliver deliver the the bonds, bonds, insurances insurances or or other documentation other documentation required required within the specified within the specified time, time, shall shall forfeit forfeit the the bid security. bid security. 1.11 1.11 Consent of Consent of Surety, Surety, Performance Performance and and Payment Payment Bond Bond Each proposal Each proposal must must bebe accompanied accompanied by by aa Consent Consent of of Surety Surety signed signed by by aa surety company

Surety signed signed by by aa surety company surety company stating stating that that if if the the Respondent’s Respondent’s proposal proposal is is accepted, accepted, thethe surety company surety company whichwhich provides provides the the Consent Consent shall shall bebe required required toto furnish furnish aa Performance and Performance and Payment Payment BondBond in in the the amount amount as as specified specified inin Section Section 2.24. Such 2.24. Such surety surety company company will will provide provide the the Respondent Respondent with bonds with bonds guaranteeing the guaranteeing the faithful faithful performance performance of of work work inin

ul faithful performance performance of of work work inin accordance accordance withwith the the RFP, and the payment of labor, materials and all other indebtedness which RFP, and the payment of labor, materials and all other indebtedness which may accrue may accrue onon the the account account of of this this contract. contract. AA Performance Performance andand Payment Payment Bond Bond will will be be required required at at the the time time ofof the the signing of signing of the the contract. contract. The The amount amount ofof the the bond bond and and the the rating rating of of the the Surety Company

of the the Surety Company Surety Company are are specified specified in in Section Section 2.24, 2.24, Performance Performance Bond Bond andand Insurance. Insurance. 1.11.2 1.11.2 The performance The performance andand payment payment bond bond must must be be furnished furnished with with the the executed executed Contract and Contract and shall shall remain remain in in effect effect until until Contract Contract completion. completion. In In lieu lieu of of the Consent the Consent of of Surety, Surety, the the Respondent Respondent may may submit submit aa Certified Certified Check Check forfor the required