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<br />THIS BOND COMPLIES WITH THE TERRORISM
<br />RISK INSURANCE ACT OF 2002 (TRIA).
<br />EXECUTED IN 6 COUNTERPARTS
<br />BOND NO. 861191 SECTION 00614
<br />PUBLIC WORK F.S. CHAPTER 255.05(1)(A)
<br />~~~iRO~A~~I~O:~D~ND BECOMES tORM OF PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: VILA & SON
<br />That, pursuant to the requirements of Florida Statute 255.05, we, LANDSCAPING CORP. , as Principal,
<br />hereinafter called Contractor, and *SEE BELOW , as Surety, a.e bound to me City of Sunny Isles Beach,
<br />Florida, as Obligee, hereinafter called City, in the amount of ''<*SEE BELOW Dollars ($ *** ) for the payment
<br />whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly
<br />and severally. *WESTFIELD INSURANCE COMPANY
<br />**NINETY SIX THOUSAND SIX HUNDRED FIFTY NINE AND 25/100THS ***$96,659.25
<br />
<br />WHEREAS, Contractor has by wriuen agreement entered into a Contract, Bid/Contract No. :05-04-02, awardc:d
<br />the q~ day of '\JUI\e... .200b" ,with City for ATLANTIC ISLE in accordance with
<br />drawings (plans) and specifications prepared by N/ A which Contract is by
<br />reference made a part hereof, and is hereafter referred to as the Contract;
<br />
<br />THE CONDITION OF THIS BOND is that if the Contractor:
<br />
<br />LANDSCAPE AND
<br />I, Fully perfonns the Contract between the Contractor and the City for construction of IRRIGATION IMPROVEMENTS
<br />_, within 45. calendar days after the date of Contract commencement as specified in the: Notice
<br />to Proceed and in the manner prescribed in the Contract; and
<br />
<br />2. Indemnifies and pays City all Josses, damages (specifically including, but not limited to, damages for deJay and
<br />other consequential damages caused by or arising out of the actS, omissions or negligence of CODtractor),
<br />expenses, COSts and anomey's fees including altomcy's fees incurred in appellate proceedings, that City sustains
<br />because of default by Contractor under the Contract; and
<br />
<br />3. Upon notification by the City, corrects any and aIJ defective or faulty Work or materials which appear within
<br />one and One half(l 1/2) years, and:
<br />
<br />4. Performs the guarantee of all Work and materials furnished under the Contract for the time specified in lhe
<br />Contract, then this Bond is void, otherwise it remains in full force.
<br />
<br />Whenever Contractor shall be. ll11d declared by City to be, in default under the Contract, the City having
<br />performed City's obligations therelIDdcr, the Surety may promptly remedy the detault, or shall promptly:
<br />4.1 Complete the Contract in accordance with its terms and conditions; or
<br />
<br />4.2 . Obtain a Bid or Bids for completing the Contract in accordance with its terms and conditions, and
<br />upon determinatiOD by Surety of the best, lowest, qualified, responsible and respollSive BIDDER. or,
<br />if the City elects, upon determination by the City, and Surety jointly of the best, lowest, qualified,
<br />responsibJe and responsive BIDDER., arrange for a Contract between such BIDDER and City, and
<br />make available as Work progresses (even though there should be a default o. a succession of de1aults
<br />under the Contract or Contracts of completion arranged UDder this paragraph) sufficient funds to pay
<br />the cost of completion less the balance oflhe Contract Price; but not exceeding, including other costs
<br />and damages for which the Surety may be liable hereunder, the amount set fonh in the first paragraph
<br />hereof. The term "balance of the Contract Price. It as used in this paragraph, shall mean the total
<br />amoWlt payable by City to Contracto. under the COntract and any amendments thereto, less the amount
<br />properly paid by City to Contractor.
<br />
<br />No right of action shall aCcrue: on this Bond to or for the use of any pe~on or corporation other than the City named
<br />herein.
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<br />00614 - 1
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