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T�e�Ui St. Paul Fire and Marine Insurance Company
<br />St. Paul Guardian Insurance Company
<br />Surety St Paul Mercury Insurance Company
<br />United States Fidelity and Guaranty Company
<br />Fidelity and Guaranty Insurance Underwrlters, Inc,
<br />Fidelity and Guaranty Insurance Company
<br />Principal Office: 385 Washington Street
<br />St. Paul, Minnesota 55102
<br />Seaboard Surety Company
<br />Principal Office; 5801 Smith Avenue
<br />PERFORMANCE BOND - AIA DOCUMENT A -311 Baltimore, Maryland 21209
<br />Bond Numbor4 0 0KB 3�- 8 4
<br />KNOW ALL MEN BY THESE PRESENTS, that we,. The Redland Company Inc.
<br />23799 SW 167Avenue, Homestead, Fl. 33031 as Principal, hereinafter called Contractor, and, St. Paul Fire & Marine Insurance Co . a corporation organized
<br />under the laws of the Slate of Minnesota , as Surety, hereinafter called Surety, arc held and
<br />firmly bound untcci ty of Sunni TCl as Roach
<br />(Here insert the name and address or legal title of the Owner)
<br />17070 Collins Ave. Sunny Isles Beach Fl. asObligec, hcrcinaftor called Owner, in the amount
<br />of One Million seven hundred twenty four thousand nine hundred forty eight
<br />dollars and twenty eight cents _ Dollars($ 1, 724, 948.28 ), for the payment whereof Contractor and
<br />Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by thcsc presonts.
<br />500 of Contract Price
<br />WHEREAS, Contractor has by written agreement dated February 7 2002 ,
<br />entered into a contract with Owner for Golden Shores Pro i ec t Roadway and drainage
<br />improvements
<br />in accordance with drawings and specifications prepared by _ En n er
<br />(Here insert full name, rifle and address)
<br />which contract is by reference made a part hereof, and is hereinafter referred to as the Contract.
<br />NOW, THEREFORE, the condition of this obligation is such that if the Contractor shall promptly and faithfully perform said Contract, then
<br />this obligation shall be null and void; otherwise it shall remain in full force and effect.
<br />The Surety hereby waives notice of any alteration or extension of time
<br />made by the Owner.
<br />Whenever Contractor shall be, and declared by Owner to be in default
<br />under the Contract, the Owner having performed Owner's obligations
<br />thereunder, the Surety may promptly remedy the default., or shall
<br />promptly
<br />1. Complete the Contract in accordance with its terms and conditions,
<br />or
<br />2. Obtain a bid or bids for completing the Contract in accordance with
<br />its terms and conditions, and upon determination by Surety of the
<br />lowest responsible bidder, or if the, Owner elects, upon
<br />determination by the Owner and the Surcty jointly of the lowest
<br />responsible bidder, arrange for a contract between such bidder and
<br />Owner, and make available as Work progresses (even though there
<br />should be a default or a succession of dofaults under the
<br />contract or contracts of completion arranged under this paragraph)
<br />sufficient funds to pay the cost of completion loss the balance of the
<br />contract price; but not exceeding, including other costs and damages
<br />for which the Surety may be liable hereunder, the amount set forth
<br />in the first paragraph hereof. The term "balance of the contract
<br />price," as used is this paragraph, shall mean the total amount
<br />payable by Owner to Contractor under the Contract and any
<br />amendments thereto, less the amount properly paid by Owncr to
<br />Contractor,
<br />Any suit under this bond must be instituted before the expiration of
<br />two (2) years from the date on which final payment under the
<br />contract falls due,
<br />No right of action shalt accrue on this bond to or for the use of any
<br />person or corporation other that the Owner named herein or the
<br />heirs, executors, administrators or successors of Owncr.
<br />In the Presence of Seal
<br />�KJ _ By; Seal
<br />Thomas ��ruary .i's� F 'Jr.
<br />Approved by the American Institute of Architects AIA Document No. A -31 1970 Ed.
<br />31784 Rev. 9.1999 Printed in U.S.A. Printed with permission by the American Institute of Architects
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