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� RtvFR <br /> .� PUBLIC WORKS DEPARTMENT • CAPITAL PROJECTS DIVISION <br /> z <br /> � <br /> 184025 1h Vero Beach, Florida 32960 • Telephone : (772) 226- 1384 •Fax : (772) 226- 1988 <br /> �LOR10P <br /> July 26, 2006 <br /> Timothy Rose Contracting, Inc . <br /> 1360 SW Old Dixie Hwy # 106 <br /> Vero Beach, FL 32962 <br /> Project: Roadway Improvements to SR Al and CR 510 — Bonding Requirements <br /> Bid 2006079 <br /> IRC Project: No. 9701 <br /> Contract Amount : $21462 ,976.55 <br /> As set forth in the Contract Documents, the County wishes to proceed with the following projects listed <br /> below : <br /> $ 825576.95 Pebble Beach Villas (Right) Tum Lane Improvements <br /> $ 115,296 . 35 Vera Cruz (Right) Tum Lane Improvements <br /> $ 120,815 .35 CR 510/Wabasso Island Lane (Right) Tum Lane Improvements <br /> $ 13,478 . 15 CR 510 Signing and Marking Improvements <br /> $459,925 .26 CR 510 Bi-Directional Turn Lane improvements <br /> $792,092 . 06 TOTAL <br /> Please revise the bonding amount from the original Letter of Award to reflect the following before the <br /> applicable County department can issue a "Notice to Proceed" letter: <br /> 1 . Performance Bond in the amount of 125% of ($990, 115 . 08) <br /> 2 . Pavment Bond in the amount of 100 % of ($ 792,092 .06) <br /> 3 . Certificate of Insurance, must name Indian River County as an additional insured and must <br /> provide for a 30 day Notice of Cancellation. <br /> 4. Agreement, execute the enclosed two (2) copies. <br /> At the time that the County wishes to proceed with more projects, the bonding capacity will be required <br /> to increase by that amount but never to exceed the original awarded amount of $2,462,976 . 55 . Once <br /> projects are certified as complete, the bonding requirement can be reduced by that amount. <br /> Sincerely, <br /> Janet B . Dunlap, P .E. <br /> Project Engineer <br /> cc : Bill DeBraal, IRC Asst. County Attorney <br /> Jerry Davis, IRC Purchasing Manager <br /> Jason Brown, IRC Budget Director <br /> F:\Public Works\Capital Projects\SR AIA & CR 5 t0 Turn Lanes_IRC-9701 \13ID DOCUMENTS 2006079\Award\9701 <br /> Bonding Requirements 2006079a.doc <br />