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<br />SECTION 16
<br />FORM OF PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />
<br />G
<br />
<br />
<br />requirements
<br />
<br />of
<br />
<br />Florida Statute 255.05, we,
<br />, as Principal, hereinafter called
<br />Contractor, and , () , as Surety, are bound to the City
<br />of Sunny Isles Beach, Florida, as Obligee, he inafter called City, in the amount of
<br />\w u h\\ MfeJ ~wWld. Dollars ($1..JD, tlt). u u ) for the payment whereof
<br />Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns,
<br />jointly and severally.
<br />
<br />WHEREAS, Contractor has by written agreement entered into a Contract, Bid/Contract No.:
<br />()8'~()(",-OL awarded the ~day of -:]UA-L ,20 ~,with Janitorial Maintenance
<br />Services in accordance with contract documents prepared by the City of Sunny Isles Beach, which
<br />Contract is by 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 />16.1. Fully performs the Contract between the Contractor and the City for Landscape Maintenance
<br />Services (Bid No. 07-10-04) within calendar days after the date of Contract commencement
<br />as specified in the Notice to Proceed and in the manner prescribed in the Contract; and
<br />
<br />16.2. Indemnifies and pays City all losses, damages (specifically including, but not limited to, damages
<br />for delay and other consequential damages caused by or arising out of the acts, omissions or negligence of
<br />Contractor), expenses, costs and attorney's fees including attorney's fees incurred in appellate
<br />proceedings, that City sustains because of default by Contractor under the Contract; and
<br />
<br />16.3. Upon notification by the City, corrects any and all defective or faulty Work or materials which
<br />appear within one and one half (1 1/2) years, and:
<br />
<br />16.4. Performs the guarantee of all Work and materials furnished under the Contract for the time
<br />specified in the Contract, then this Bond is void, otherwise it remains in full force. Whenever Contractor
<br />shall be, and declared by City to be, in default under the Contract, the City having performed City's
<br />obligations there under, the Surety may promptly remedy the default, or shall promptly:
<br />
<br />16.4.1. Complete the Contract in accordance with its terms and conditions; or
<br />
<br />16.4.2 Obtain a Bid or Bids for completing the Contract in accordance with its terms and
<br />conditions, and upon determination by Surety of the lowest responsible and responsive
<br />Bidder, or, if the City elects, upon determination by the City, and Surety jointly of the
<br />lowest responsible and responsive Bidder, arrange for a Contract between such Bidder
<br />and City, and make available as Work progresses (even though there should be a default or
<br />a succession of defaults under the Contract or Contracts of completion arranged under this
<br />paragraph) sufficient funds to pay the cost of completion less the balance of the
<br />Contract Price; but not exceeding, including other costs and damages for which the
<br />Surety may be liable hereunder, the amount set forth in the first paragraph hereof. The
<br />term "balance of the Contract Price" as used in this paragraph, shall mean the total
<br />amount payable by City to Contractor under the Contract and any amendments thereto,
<br />less the amount properly paid by City to Contractor.
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