Reso 2011-1830 - Laserfiche WebLink

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PAYMENT BOND Bond Number: 929540534 KNOW ALL PERSONS BY THESE PRESENTS, That we USA Shade & Fabric Structures, Inc. of 8505 Chancellor Row, Dallas, TX 75247 , hereinafter referred to as the Principal, and Western Surety Company, P.O. Box 5077, Sioux Falls, SD 57117-5077 as Surety, are held and firmly bound unto City of Sunny Isles Beach of 18070 Collins Ave., Sunny Isles Beach, FL 33160 , hereinafter referred to as the Obligee, in the sum of Three Hundred Thirty Four Thousand Six Hundred Twenty Three and no/l0Q--- Dollars ($ 334,623.00 ), for the payment of which we bind ourselves, our legal representatives, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, Principal has entered into a contract with Obligee, dated day of , for Contract No. C1112-008, Golden Shores Park located at 191st Terrace and Heritage Park located at 19200 Collins Ave. - Sunny Isles Beach, FL copy of which contract is by reference made a part hereof. NOW, THEREFORE, if Principal shall, in accordance with applicable Statutes, promptly make payment to all persons supplying labor and material in the prosecution of the work provided for in said contract, and any and all duly authorized modifications of said contract that may hereafter be made, notice of which modifications to Surety being waived, then this obligation to be void; othelWise to remain in full force and effect. No suit or action shall be commenced hereunder (a) After the expiration of one (1) year following the date on which Principal ceased work on said contract it being understood, however, that if any limitation embodied in this bond is prohibited by any law controlling the construction hereof such limitation shall be deemed to be amended so as to be equal to the minimum period of limitation permitted by such law. (b) Other than in a state court of competent jurisdiction in and for the county or other political subdivision of the state in which the project, or any part thereof, is situated, or in the United States District Court for the district in which the project, or any part thereof, is situated, and not elsewhere. The amount of this bond shall be reduced by and to the extent of any payment or payments made in good faith hereunder. SIGNED, SEALED AND DATED this 24th day of January 2012 U By , ~r Iff' "Ie, H> Wes rn Su e Com an B4i~~4~F~~~) (Seal)