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LABOR AND MATERIAL PAYMENT BOND
<br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Principal shall promptly make payment to all
<br />claimants as hereinafter defined, for all labor and material used or reasonably required for use in the performance of the
<br />Contract, then this obligation shall be void, otherwise it shall remain in full force and effect, subject, however, to the following
<br />conditions:
<br />I. . A claimant is defined as one having a direct
<br />contract with the Principal or with a Subcontractor of the
<br />Principal for, labor, material, or both, used or. reasonably
<br />required for use in the performance of the Contract, labor
<br />and material being construed 'to include that part of water,
<br />gas, power, light, heat, oil, gasoline, telephone service or
<br />rental of etluipment directly applicable to the Contract.
<br />2. The above named Principal and Surety hereby jointly
<br />and severally agree with the Owner that every claimant as
<br />herein defined, who has not been paid in full before the
<br />expiration of a period of ninety (90) days after the date on
<br />which the last of such claimants work or labor was done or
<br />performed, or materials were furnished by such claimant,
<br />may sue on this bond for the use of such claimant,
<br />prosecute the suit to final judgment for such sum or sums
<br />as may be justly due claimant, and have execution thereon.
<br />The owner Shall not be liable for the payment of any costs
<br />or expenses of any such suit.
<br />3. No suit or action shall be commenced hereunder by
<br />any claimant:
<br />a) Unless claimant, other than one having a direct
<br />contract with the Principal, shall have given written notice to
<br />any two of the following: the Principal, the Owner, or the
<br />Surety above named, within ninety (90) days after such
<br />claimant did4or performed the last of the work or labor, or
<br />furnished the last of the materials for which said claim is
<br />made; stating with substantial accuracy the amount
<br />claimed
<br />and,the name of the party to whom the materials were
<br />furnished, or for whom the work or labor was done or
<br />performed. Such notice shall be served by mailing the
<br />same by registered mail or certified mail, postage prepaid,
<br />in an envelope addressed to the Principal, Owner or Surety,
<br />at any place where an office is regularly maintained for the
<br />transaction•of business, or served in any manner in which
<br />legal process may be served. in the state in which the
<br />aforesaid project is located, save that such service need not
<br />be made by a public officer.
<br />b) After the expiration of one (1) year following the date on
<br />which principal ceased Work on said Contract, it being
<br />understood, however, that if any limitation embodied in this
<br />bond is prohibited by any law controlling the construction
<br />hereof such limitation shall be deemed to be amended so
<br />as to be equal to the minimum period of limitation permitted
<br />by such law.
<br />0 - Other than in state court of competent jurisdiction in
<br />and for the county or other political subdivision of the state
<br />in which the Project, or any part thereof, is situated, or in
<br />the United States District.Court for the district in which the
<br />Project, or any part thereof, is situated, and not elsewhere.
<br />4. The amount of this bond shall be reduced by and
<br />to the extent of any payment or payments made in good
<br />faith hereunder, inclusive of the payment by Surety or
<br />mechanics' liens which may be filed of record against said
<br />improvement, whether or not claim for the amount of such
<br />lien be presented under and against this bond.
<br />61'his "i graJqVs&?l?g this 14th day of July, 2008.
<br />ClOmPly with section 25505 Florida
<br />rtattthes, and any action instituted by a claimant under this
<br />{.ond for payment must be 'ih accordance with the notice and
<br />0 me limitation provisions in Section 255.05(2). Florida St
<br />ATTEST: n Gate General Contractors, Inc,
<br />(Principa9
<br />• _
<br />By: n'n Rat n���
<br />(Witness)
<br />IIIB
<br />�zn
<br />Fidelity and Deposit Company of Maryland
<br />(Surety) (Se
<br />87Ry, w
<br />B
<br />(Title) } ,i. fse
<br />Brett Rosenhaus . Attorney -tri j �,"A a
<br />A'k t > i
<br />Y
<br />AIA DOCUMENT A311 PERFORMANCE BOND AND LABOR AND MATERIAL PAYMENT BOND • AIA
<br />FEBRUARY 1970 ED. THE AMERICAN INSTITUTE OFARCHITECTS, 1735 N.Y. AVE., N.W., WASHINGTON, D.C. 20006
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