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<br />. .
<br />
<br />PAYMENT AND
<br />PERFORMANCE BOND
<br />(Florida Public Works)
<br />
<br />TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
<br />Hartford, Connecticut 06183
<br />
<br />Bond No.: 105487045
<br />
<br />Bond MUST be recorded in public records of County where improvement is located
<br />
<br />Principal (Contractor): SHORELINE FOUNDATION, INC.
<br />Address: 2781 SW 56TH AVE; PEMBROKE PARK, FL 33023
<br />Telephone: (954) 985-0460
<br />
<br />Owner:
<br />Address:
<br />Telephone:
<br />
<br />Travelers Casualty and Surety Company of America
<br />2420 LAKEMOUNT AVENUE, 4TH FL, ORLANDO, FL 32814
<br />(407) 388-3263
<br />
<br />CITY OF SUNNY ISLES BEACH
<br />18070 COLLINS AVENUE, SUNNY ISLES BEACH, FL 33160
<br />(305) 947-0606
<br />
<br />Surety:
<br />Address:
<br />Telephone:
<br />
<br />Contracting Public Entity (if different from Owner):
<br />Address:
<br />Telephone:
<br />
<br />Contract Number: 10-07-02
<br />
<br />Project Description: DEMOLITION AND CONSTRUCTION OF SUNNY ISLES BEACH/NEWPORT FISHING
<br />PIER I
<br />
<br />NOTE: Any action instituted by a claimant under this bond for payment must be in accordance with the
<br />notice and time limitation provisions in Section 255.05(2), Florida Statutes.
<br />
<br />KNOW ALL BY THESE PRESENTS, That we, SHORELINE FOUDNATION, INC., called the Principal, and
<br />Travelers Casualty and Surety Company of America, a Connecticut corporation, called the Surety, are held and
<br />firmly bound unto CITY OF SUNNY ISLES BEACH, called the Obligee, in the sum of THREE MILLION
<br />SEVENTY-SEVEN THOUSAND, EIGHT HUNDRED SIXTY-SIX AND 00/100 Dollars ($3,777,866.00) for the
<br />payment whereof said Principal and Surety bind themselves firmly by these presents.
<br />
<br />WHEREAS, the Principal has entered into a contract with the Obligee, dated , as described above
<br />("Contract"). The Contract is referred to herein for the limited purpose of defining the work to be performed, and
<br />its terms are not incorporated herein.
<br />
<br />NOW, THEREFORE, the condition of this obligation is such that if the Principal performs the Contract and,
<br />subject to the conditions and limitations set forth herein, makes payment to all Claimants, as defined in Section
<br />713.01, Florida Statutes, whose claims derive directly or indirectly from the prosecution of the work provided for
<br />in the Contract, then this obligation shall be null and void; otherwise to remain in full force and effect.
<br />
<br />1. No suit or action for labor, materials, or supplies shall be instituted hereunder against the
<br />Principal or the Surety unless both of the following notices have been given by the Claimant: A Claimant, except
<br />a laborer, who is not in privity with the Principal and who has not received payment for his labor, materials, or
<br />supplies shall, before commencing or not later than 45 days after commencing to furnish labor, materials, or
<br />supplies for the prosecution of the work, furnish the Principal with a notice that he intends to look to the bond for
<br />protection. A Claimant who is not in privity with the Principal and who has not received payment for his or her
<br />labor, materials, or supplies shall deliver to the contractor and to the surety written notice of the performance of
<br />the labor or delivery of the materials or supplies and of the nonpayment. The notice of nonpayment may be
<br />served at any time during the progress of the work or thereafter but not before 45 days after the first furnishing of
<br />labor, services, or materials by the claimant, or, with respect to rental equipment, not later than 90 days after the
<br />date that the rental equipment was last on the job site available for use. No action for the labor, materials or
<br />Performance and Payment Bond - Page 1 of 2
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