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111111111110 <br />C-1 <br />40 <br />3. After the expiration of one (1 ) year from the performance of the labor or completion of <br />delivery of the materials and supplies; it being understood, however, that if any limitation <br />embodied in this Bond is prohibited by any law controlling the construction hereof such <br />limitations shall be deemed to be amended so as to be equal to the minimum period of <br />limitation permitted by such taw. <br />4. Other than in a state court of competent jurisdiction in and for Indian River County, Florida, <br />or in the United States District Court for the Southern District of Florida, and not <br />elsewhere. <br />The Principal and the Surety jointly and severally, shall repay the County of Indian River any <br />sum which it may be compelled to pay because of any lien for labor or materials furnished for any <br />work included in or provided by said Contract. <br />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 thereunder or <br />to the Specifications applicable thereto shall in any way affect its obligations on this Bond, and the <br />Surety hereby waives notice of any such change, extension of time, alterations of or addition to the <br />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 they have a Best's Key <br />Elating Guide, General Policyholder's rating of "A" and Financial Size Category of Class "X". <br />The said Principal and Surety jointly and severally covenant and agree that this Bond will <br />remain in full force and effect for a period of one year commencing on the date of Substantial <br />Completion as established on the Certificate of Substantial Completion as issued by the County <br />of Indian River. <br />IN WITNESS WHEREOF, the above bounded parties executed this instrument under their <br />Several Seals, this _ day of , 2000, A.D., the name and corporate seal each <br />corporate party being hereto affixed and these presents duly signed by its undersigned <br />representative, pursuant to authority of its governing body. <br />f YVEI_y THE PRINCIPAL_ IS AN INDIVIDUAL: <br />Signed, sealed and delivered in the presence of: <br />Witness <br />Address <br />Witness <br />Address <br />Signature of Individual <br />Printed Name of individual <br />1f!!!•\!•fi+•!!!!ff!•ffffffYf/,IR\IMRY\\RkY\ffY\ifY\M!#i\lYRiYfYt <br />1'AYMLNT BOND <br />po - 2 <br />