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This Bond Complies with the <br />SECTION 00432 Terrorism Risk Insurance Act of <br />2002 (TRIA). <br />BID BOND <br />STATE OF FLORIDA <br />COUNTY OF DADE <br />KNOW ALL MEN BY THESE PRESENTS, that we, Vila & Son Landscaping Corp. , as <br />Principal, and Westfield Insurance Company , as Surety, are held <br />and firmly bound unto the City of Sunny Isles Beach, a municipal corporation of the State of Florida in the sum of <br />Five Percent of Amount Bid Dollars ($ 5% ), lawful money of the United States, for the <br />payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators and successors <br />jointly and severally, firmly by these presents. <br />THE CONDITION OF THIS OBLIGATION IS SUCH that whereas the Principal has submitted the <br />accompanying Bid, dated May 51h 12005 <br />for: Landscape Improvements for Atlantic Isle. Bid No. 05 -04 -02 <br />WHEREAS, it was a condition precedent to the submission of said Bid that a cashier's check or Bid Bond in the amount <br />of five percent (5 %) of the Base Bid be submitted with said Bid as a guarantee that the BIDDER would, if awarded the <br />Contract, enter into a written Contract with the City for the performance of said Contract, within ten (10) consecutive <br />calendar days after written notice having been given of the Award of the Contract. <br />NOW, THEREFORE, the conditions of this obligation are such that if the Principal within ten (10) consecutive calendar <br />days after written notice of such acceptance, enters into a written Contract with the City of Sunny Isles Beach and <br />furnishes the Performance and Payment Bonds, satisfactory to the City, each in an amount equal to one hundred percent <br />(100 %) of the Contract Price, and provides all required Certificates of Insurance, then this obligation shall be void; <br />otherwise the sum herein stated shall be due and payable to the City of Sunny Isles Beach and the Surety herein agrees <br />to pay said sum immediately, upon demand of the City, in good and lawful money of the United States of America, as <br />liquidated damages for failure thereof of said Principal. <br />00432- 1 <br />