R&D Electric proposal ITB 20-09-01

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at SVNNT IjIFtB u s •no CI,I O. 4Y•I ,MO STATE OF FLORIDA COUNTY OF MIAMI-DADE ) BID BOND City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, FL 33160 Telephone: (305) 947-0606 Fax (305) 949-3113 KNOW ALL MEN BY THESE PRESENTS, that we, R & D Electric, Inc. as Principal, and Great American Insurance Company as Surety, are held and firmly bound unto the City of Sunny Isles Beach, a municipal corporation of the State of Florida in the sum of Five Percent of Total Amount Bid Dollars (S 5% ), lawful money of the United States, for the payment of which sum well and truly to be made. we bind ourselves, our heirs, executors, administrators and successors jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH that whereas the Principal has submitted the accompanying Bid dated. November 10. 2020 for: Bid No. 20-09-01. Golden Shores Street Liahtina WHEREAS, it was a condition precedent to the submission of said Bid that a cashier's check or Bid Bond in the amount of five percent (5%) of the Base Bid be submitted with said Bid as a guarantee that the Proposers would, if awarded the Contract, enter into a written Contract with the City for the performance of said Contract, within ten (10) consecutive calendar days after written notice having been given of the Award of the Contract. NOW, THEREFORE, the conditions of this obligation are such that if the Principal within ten (10) consecutive calendar days after written notice of such acceptance, enters into a written Contract with the City of Sunny Isles Beach and furnishes the Performance Bond. satisfactory to the City, each in an amount equal to one hundred percent (100%) of the Contract Price, and provides all required Certificates of Insurance, then this obligation shall be void; otherwise the sum herein stated shall be due and payable to the City of Sunny Isles Beach and the Surety herein agrees to pay said sum immediately. upon demand of the City, in good and lawful money of the United States of America, as liquidated damages for failure thereof of said Principal. IN WITNESS WHEREOF, the above bonded parties have executed this instrument under their several seals this 10th day of November ,20 20 , the name and the corporate seal of each corporate party being hereto affixed and these presents being duly signed by its undersigned representative. IN PRESENCE OF: Individual or Partnership Principal 7447 NW 48th Street Business Address Miami, FL 33166 City, State, and Zip Code 305403-7841 Business Telephone ATTEST DOCUMENT CONTINUES ON NEXT PAGE R & D Electric, Inc. Affix Corporate Seal 305-403-7842 Business Facsimile Great American Insurance Company As attached power of attorney, Secretary (Corporate Surety)* 4- ` Warren M. Alter, Attomey-in-Fact By •Impress Corporate Seal IMPORTANT Surer; companies executing bonds must appear on the Treasury Department's most current list (circular 570 as amended) and be authorized to transact business in the State of Florida. DECEMBER 2B. 2010