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THE AMERICAN AMERICAN INSTITUTE OF ARCHITECTS <br />Bond No. 20150103 <br />AIA Document A310 <br />Bid Bond <br />KNOW ALL MEN BY THESE PRESENTS, that we Kerns Construction and Property Mgmnt. Corp. <br />as Principal, hereinafter called the Principal, and International Fidelity Insurance Company <br />a corporation duly organized under the laws of the State of New Jersey <br />as Surety, hereinafter called the Surety, are held and firmly bound unto Indian River County Board of County <br />Commissioners <br />as Obligee, hereinafter called the Obligee, in the sum of 5 % of bid amount, not to exceed <br />Sixty Thousand & 00/100 ------------------------- ------ --------------------- Dollars ($60,000.00) <br />for the payment of which sum well and truly to be made, the said Principal and the said Surety, bind ourselves, our heirs, <br />executors, administrators, successors and assigns, jointly and severally, firmly by these presents. <br />WHEREAS, the Principal has submitted a bid for <br />87th Street and 91st Avenue Sidewalk Improvements. Bid No. 2015036 / Project No. 1205 / <br />Financial Project No. 431728-1-58-01 <br />NOW, THEREFORE, if the Obligee shall accept the bid of the Principal and the Principal shall enter into a Contract with the Obligee in accordance <br />with the terms of such bid, and give such bond or bonds as may be specified in the bidding or Contract Documents with good and sufficient surety for <br />the faithful performance of such Contract and for the prompt payment of labor and material furnished in the prosecution thereof, or in the event of the <br />failure of the Principal to enter such Contract and give such bond or bonds, if the Principal shall pay to the Obligee the difference not to exceed the <br />penalty hereof between the amount specified in said bid and such larger amount for which the Obligee may in good faith contract with another party to <br />perform the Work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect. <br />Signed and sealed this 19th day of May 2015. <br />Kerns Construction and Property Mgmnt. Corp. <br />(Witness) <br />Internatio;ajif7elizty Insurance Company <br />(Seal) <br />(Seal) <br />/Burton Harris, <br />Attorney -in -Fact and Florida Resident Agent #A 111883 <br />AIA DOCUMENT A310 • 131D BOND • AIA ® • FEBRUARY 1970 ED • THE AMERICAN <br />INSTITUTE OF ARCHITECTS, 1735 N Y AVE., N.W., WASHINGTON, 0 C 20006 <br />