Reso 2017-2715 - Laserfiche WebLink

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Exhibit 5 SURETY PERFORMANCE AND PAYMENT BOND By this Bond, We as Principal, whose principal business address is as Contractor under the contract dated 2017, between Principal and Miami -Dade County for the construction of Project No (herein after referred to as "Contract") the terns of which Contract are incorporated by reference in its entirety into this Bond and , a corporation, whose principal business address is as Surety, are bound to Miami -Dade County (hereinafter referred to as "Comity") in the sum of (U.S. dollars) $ , for payment of which we bind ourselves, our heirs, personal representatives, successors, and assigns, jointly and severally. TEE CONDITION OF THIS BOND is that if Principal: 1. Performs all the work under the Contract, including but not limited to guarantees, warranties and the curing of latent defects, said Contract being made a part of this bond by reference, and in the times and in the manner prescribed in the Contract, including any and all damages for delay; and 2. Promptly makes payments to all claimants, as defined in Section 255.05 0), Florida Statutes, supplying Principal with labor, materials, or supplies, used directly or indirectly by Principal in the prosecution of the work provided for in the contract; and 3. Pays County all losses, damages, including damages for delay, expenses, costs and attorney's fees, including appellate proceedings, that County sustains because of a default by Principal under the Contract, including but not limited to a failure to honor all guarantees and warranties or to cure latent defects in its work or materials within 5 years after completion of the work under the Contract; and 4. Performs the guarantee of all work and materials famished under the contract for the time specified in the Contract, including all warranties and curing all latent defects within 5 years after completion of the work under the Contract; then this bond is void; otherwise it remains in full force. If no specific periods of warranty are stated in the Contract for any particular item or work, material or equipment, the warranty shall be deemed to be a period of one (1) year from the date of final acceptance by the County. This Bond does not limit the County's ability to pursue suits directly with the Principal seeking damages for latent defects in materials or workmanship, such actions being subject to the limitations found in Section 95.11(3)(c), Florida Statutes. Any changes in or under the Contract Documents and compliance or noncompliance with any formalities connected with the Contract or the changes does not affect Surety's obligation under this Bond. RPQ No. 320802-12-001 PageXof,$4 3 W