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40 C7 CG O 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 iable 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 having a direct contract with the Principal, she II within forty five (45) days after beginning to furnish labor, materials or supplies for the p"osecution 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 Cc:unty, Florida, or in the United States District Court for the Southern District of Florida, and nct elsewhere. The Surety, for value received, hereby stipulates 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 County of Indian River that it has a Best's Key Rating Guide, General Policyholder's rating of "A" and Financial Size Category of -',lass "X". [Select either SUBSTANTIAL or FINAL completion in the paragraph below] The Principal and Surety jointly and severally covenant and agree that this Bond will remain in full force and effect for a period of one year commencing on the date of %0 i`talalFfna1 Completion as established on the Certificate of 00.0060 Vfl( ijl Completion as issued by the County of Indian River. The Principal and Surety jointly and severally, agree to pay the County of Indian River all losses, damages, expenses, costs, and attorney's fees, including appellate pra;eedings, that the County of Indian River sustains because of a default by the Principal under tha: Contract. [The remainder of this page was left blank intentionally] r .-D c ry r� Let F.1NYaler CaWW DoMm MT0612 • Paimerg eaw.doc Rw. OS'01 00612.2 00402 • Payment Bond