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prosecution of the Work provided for in said Contract , and is further defined in ' Section 713 . 01 of the Florida Statutes . ' B . The provisions of Section 255 . 05 Florida Statute shall apply . The above named Principal and Surety hereby jointly and severally agree with the County of Indian River that every claimant as herein defined , who has not been paid in full before the 1 expiration of a period of ninety ( 90 ) days after performance of the labor or after complete delivery of materials and supplies by such claimant, may sue on this Bond for the use of such claimant , prosecute the suit to final judgment for such sums or sums as may be justly due claimant, and have execution thereon . The County of Indian River shall not be liable for the payment of any costs or expenses of any such suit . No suit or action shall be commenced hereunder by any claimant : ' 1 . Unless claimant , other than one havingdirect a contract with the Principal , shall within forty- five (45 ) days after beginning to furnish labor, materials or supplies for the prosecution of the work , furnish the Principal and Surety with a notice that he intends to look to this Bond for protection . 2 . Unless claimant , other than one having a direct contract with the Principal , shall within ninety ( 90 ) days after such claimant 's performance of the labor or complete delivery of materials or supplies , deliver to the Principal and Surety written notice of the performance of such labor or delivery of such material or supplies and the nonpayment therefore . ' 3 . After the expiration of one ( 1 ) year from the performance of the labor or completion of delivery of the materials or supplies ; it being understood , however, that if any limitation embodied in this Bond is prohibited by any law controlling the construction hereof, such ' limitations shall be deemed to be amended , so as to be equal to the minimum period of limitation permitted by such law . ' 4 . Other than in a state court of competent jurisdiction in and for Indian River County , Florida , or in the United States District Court for the Southern District of Florida , and not elsewhere . The Surety , for value received , herebystipulates p ates and agrees that no charge , extension of time , alteration of or addition to the terms of the Contract or to the work to be performed thereunder or ' to the Specifications applicable thereto , shall in any way affect its obligations on this Bond , and the Surety hereby waives notice of any such change , extension of time , alterations of or addition to the terms of the Contract , or to the work or to the Specifications . ' The Surety represents and warrants to the Count of County Indian River that it has a Best' s Key Rating � Guide , General Policyholder' s rating of "A" and Financial Size Category of Class "X" . CY The Principal and Surety jointly and severally covenant and agree that this Bond will remain in u full force and effect for a period of one year commencing on the date of Substantial Completion ' as established on the Certificate of Substantial Completion as issued by the County of Indian c River. C.: ' R ' 044572000 00612 - 2