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<br />SECTION 8 <br /> <br />BID BOND <br /> <br />STATE OF FLORlDA <br />COUNn' OF \::>A:1:>(S <br /> <br />) <br />) <br />) <br /> <br />KNOW ALL MEN BY THESE PRESENTS, that we, ValleyCrest Landscape Maintenance. Inc. <br />as principal, and Safeco Insurance Company of America , <br />as Surety, are held and firmly bound unto the City of Sunny Isles Beach, a municipal <br />corporation of the State of Florida in the sum of Five Percent of Amount Bid <br />Dollars ($ 5% of Amount Bid), lawful money of the United States, for the payment of which <br />sum well and truly to be made, we bind ourselves, our heirs, executors, administrators <br />and successors jointly and severally, firmly by these presents. <br /> <br />THE CONDmON OF THIS OBLIGATION IS SUCH. that whereas the Principal has <br />submitted the accompanying Bid dated, December 5. 2007 for: <br />City of Sunny Isles Beach - Landscape Maintenance <br /> <br />WHEREAS, it was a condition precedent to the submission of said Bid that a cashier's <br />check or Bid Bond in the amount of five percent (5%) of the Base Bid be submitted with <br />said Bid as a guarantee that the Bidder would, if awarded the Contract, enter into a <br />written Contract with the City for the performance of said Contract, within ten (10) <br />consecutive calendar days after written notice having been given of the Award of the <br />Contract. <br /> <br />NOW, THEREFORE, the conditions of this obligation are such that if the Principal within <br />ten (10) consecutive calendar d~ys after written notice of such acceptance, enters into <br />a written Contract with the City of Sunny Isles Beach and furnishes the Performance <br />and Payment Bonds, satisfactory to the City, each in an amount equal to one hundred <br />percent (100%) of the Contract Price, and provides all required Certificates of <br />Insurance, then this obligation shall be void; otherwise the sum herein stated shall be <br />due and payable to the City of Sunny Isles Beach and the Surety herein agrees to pay <br />said sum immediately, upon demand of the City, 'in good and lawful money of the <br />United States of America, as liquidated damages for failure thereof of said Principal. <br /> <br />IN WITNESS WHEREOf, the above bonded parties have executed this instrument under <br />their several seals this 30th day of November ,20 07 , the <br />name and the corporate seal of each corporate party being hereto affixed and these <br />presents being duly signed by its undersigned representative. <br /> <br />DOCUMENT CONTINUES ON NED PAGE <br /> <br />PAGf 63 Of 92 <br />BID No. 07-10-04 <br />