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PAYMENT BOND
<br /> KNOW ALL MEN BY THESE PRESENTS : Peter R . Brown Construction , Inc . , 13830 58th St N . , Ste . 401
<br /> BY THIS BOND , we Clearwater, FL 33760 , 727-535-6407
<br /> ------- --- --- --- -- --- ----- , as Principal (Contractor) ( Insert name , principal business address ,
<br /> and telephone number of Principal/Contractor)
<br /> and Safeco Insurance Company of America , Safeco Plaza ,
<br /> Seattle , WA 98185 , 206- 545 -5000
<br /> a corporation ,
<br /> as Surety, ( Insert name , principal business address , and telephone number of Surety )
<br /> are held and firmly bound unto the County of Indian River , Florida , 1840 25'h Street , Vero
<br /> Beach , Florida 32960 , ( 772 ) 567-8000 , in the sum of Eighteen Million Three Hundred One Thousand -
<br /> ix HuMred Thirtyne
<br /> Dollars ($ 18,301 ,631 .09 , amounting to 100% of the Cost of the Work , as such term is defined
<br /> in the Contract , but exclusive of the cost of the required payment and performance bonds
<br /> . For the payment of said sum we bind ourselves , our heirs , executors , administrators and
<br /> assigns , jointly and severally , for the faithful performance of a certain written Contract ,
<br /> dated the 7th day of June , 2005 entered into between the
<br /> Principal and the County of Indian River, for:
<br /> Bond Number : 6382758
<br /> Project Name : County Jail Building Expansion ,
<br /> County Project Number: RFQ # 7042
<br /> Project Address : 4055 415` Street , Vero Beach , Florida
<br /> A copy of said Contract is incorporated herein by reference and is made a part hPrPnf ns if
<br /> fully copied herein .
<br /> NOW , THEREFORE . THE CONDITIONS OF THIS OBLIGATION ARE SUCH , that, if the
<br /> Principal shall promptly make payments to all claimants , as herein below defined , then this
<br /> obligation shall be void ; otherwise , this Bond shall remain in full force and effect , subject to
<br /> the following terms and conditions :
<br /> 1 . A claimant, as defined in Florida Statutes Section 255 . 05( 1 ) , is any person
<br /> supplying Principal with labor, materials , or supplies , used directly or indirectly by Principal
<br /> in the prosecution of the Work nrnvidptl for in the C:nntract .
<br /> 2 . Florida Statutes Section 255 . 05 ( 2005 ) , as amended from time to time ,
<br /> together with all notice and time provisions contained in subsection (2 ) of Florida Statutes
<br /> Section 255 . 05 , is incorporated herein In Its entirety by this reference .
<br /> The Surety , for value received , hereby stipulates and agrees that no change , extension of
<br /> time . increase in Contract price , altPratinn of nr addition to the terms of the Contract or to
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