[Iowa DOT] 131084. Proposal Gurantee/Bid Bond

KNOW ALL PERSONS BY THESE PRESENTS: That we,

as principal, and the

as surely, are held and firmly bound unto the Iowa Department of Transportation and to the State of Iowa, or municipality as defined in Iowa Code 73A.1 as applicable, hereinafter defined as obligee, to the percent of the submitted lump sum price shown in the solicitation documents of the specified project, by which payment by said principal and surety bind themselves, their heirs, executors, administrators, successors, and assigns jointly and severally, firmly by these presents.

WHEREAS, the principal is herewith submitting his/her or its sealed solicitation for:

NOW THEREFORE, if the said solicitation or proposal submitted by said principal be accepted, and the principal be awarded a contract with the obligee in accordance with the terms of such solicitation, and give such bond as may be specified in the solicitation or contract documents with good and sufficient surety for the faithful performance of such contract and for the prompt payment of labor and material furnished in the prosecution thereof, then this obligation shall become null and void or in the event of the failure of the principal to enter such contract and give such bond, the principal shall pay to the obligee the full amount of the bid bond, together with court costs, attorney?s fees, and any other expense of recovery.

IN WITNESS WHEREOF, the principal and surety have caused these presents to be signed this

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