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CITY OF SUNNY ISLES BEACH PARKS /MEDIANS/RIGHT -OF -WAY MAINTENANCE FORM OF PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: That, pursuant to the requirements of Florida Statute 255.05, we, , as Principal, hereinafter called CONTRACTOR, and , as Surety, are bound to the City of Sunny Isles Beach, Florida, as Obligee, hereinafter called OWNER, in the amount of Dollars ($ ) for the payment whereof CONTRACTOR and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally. WHEREAS, CONTRACTOR has by written agreement entered into a Contract, Bid/Contract No.: , awarded the day of , 19 , with OWNER for in accordance with drawings (plans) and specifications prepared by _ which Contract is by reference made a part hereof, and is hereafter referred to as the Contract; THE CONDITION OF THIS BOND is that if the CONTRACTOR: Fully performs the Contract between the CONTRACTOR and the OWNER for construction of , within calendar days after the date of contract commencement as specified in the Notice to Proceed and in the manner prescribed in the Contract; and 2. Indemnifies and pays OWNER all losses, damages (specifically including, but not limited to, damages for delay and other consequential damages caused by or arising out of the acts, omissions or negligence of CONTRACTOR), expenses, costs and attorney's fees including attorney's fees incurred in appellate proceedings, that Owner sustains because of default by CONTRACTOR under the Contract; and 3. Upon notification by the Owner, corrects any and all defective or faulty work or materials which appear within one (1) year, and: 4. Performs the guarantee of all work and materials furnished under the Contract for the time specified in the Contract, then this Bond is void, otherwise it remains in full force. BIDDERS NAME: COMPANY NAME: