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40 <br />C-1 <br />THE PRINCIPAL AND SURETY FURTHER jointly and severally agree that <br />the County, at its option, shalt have the right to construct or, pursuant to receipt of <br />competitive bids, cause to be constructed the aforementioned improvements in the event <br />the Principal, or the Surety if requested, should fail or refuse to do so in accordance with the <br />terms of the contract. In the event the County should exercise and give effect to such right, <br />the Principal and the Surety shall be jointly and severally liable hereunder to reimburse the <br />County for the total cost thereof, including but not limited to, engineering, legal and <br />contingent costs, including reasonable attorney's fees, together with any damages, either <br />direct or consequential, which may be sustained by the County on account of the failure of <br />the Principal to carry out and execute all the provisions of the contract. <br />It is expressly understood that the protections provided by this bond shall run <br />exclusively to the County and its successors or assigns and same are not expressly or <br />impliedly intended to protect or save harmless any contractor, subcontractor, supplier, <br />materialman, laborer, purchaser, or other party unless expressly agreed and acknowledged <br />by Indian River County in writing. <br />IN WITNESS WHEREOF, the Principal and the Surety have executed these <br />presents this IDT'n day of .2000. <br />Witn es: Naimisha Construction, Inc., <br />a Florida corporation <br />sign re. <br />printed name: Nn <br />signature: f T` rr'71frt �' Sy <br />printed name: I el e re o Presiden�or 1fTce President <br />IN DIAN R IVCR CO. APPROWT) <br />DATE <br />UTILITIES <br />DIRECTOR <br />74.,`� OD <br />I.LGAL tv- <br />�'S` fes`" <br />RISK MANAGER ., <br />printed name'-�rx•w. �+� <br />title {11G2 <br />PRINCIPAL <br />Travelers Casualty and Surety Company of <br />SURETY f America <br />gy, <br />Attorney -in -Fact Michael A. Holmes <br />(Must attached Power of <br />Attorney and affix <br />corporate seal) <br />& Florida Resident Agent <br />