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The Surety , for value received , hereby stipulates and agrees that no charge , extension of time , <br /> alteration of or addition to the terms of the Contract or to the work to be performed there under <br /> or to the Specifications applicable thereto , shall in any way affect its obligations on this Bond , <br /> and the Surety hereby waives notice of any such change , extension of time , alterations of or <br /> addition to the terms of the Contract, or to the work or to the Specifications . <br /> The Surety represents and warrants to the County of Indian River that it has a Best' s Key <br /> Rating Guide , General Policyholder's rating of "A" and Financial Size Category of Class 'W ' . <br /> The Principal and Surety jointly and severally covenant and agree that this Bond will remain in <br /> full force and effect for a period of one year commencing on the date of Final Completion as <br /> established on the Certificate of Final Completion as issued by the County of Indian River. <br /> The Principal and Surety jointly and severally , agree to pay the County of Indian River all <br /> losses , damages , expenses , costs , and attorney's fees , including appellate proceedings , that <br /> the County of Indian River sustains because of a default by the Principal under the Contract . <br /> [The remainder of this page was left blank intentionally] <br /> 00612 -Payment Bond .doc <br /> 00612 - 2 <br /> CADocuments and Settingsyoann\Local Settings\Temporary Internet Files\Content.Outlook%DW4VKPNA\00612 -Payment Bond.doc Rev. 05/01 <br />