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MENNEN 534420P SECTION 00612 - Payment Bond KNOW ALL MEN BY THESE PRESENTS: BY THIS BONE) , we Timothy _Rose Contracting Inc a5 Principal, and * * , a corporation, as Surety, are held and firmly bound unto the County of Indian River, Florida , in the sum of 4r SixBeTboousand : Seven HundredDollar5 $4 6 r 71 60 100% of the o C Id price, or the payment of said sum we bind ourselves, our theto irs, executors, administrators and assigns, jointly and severally, for the faithful performance of a certain written Contract, dated the .?o day of . 6 j11Ih1R er 2011, entered into between the Principal and the County of .Indian River, for; * * Developers Surety and Indemnity Company Project Name: Meadowlark Woods Subdivision Water Assessment Project County Project Number: CP-2324 Project Address: 61$Avenue north of 41st Street Project Description: Residential! Water Olstribution _ A copy of said Contract is incorporated hetein by reference and is made a part hereof as if fully copied herein. NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION ARE SUCH, that, if the Principal shall promptly make payments to all claimants, as herein below defined, then this obligation shall be void; otherwise, this Bond shall remain in full force and effect, subject to the following terms and conditions: 1 , A claimant is defined as any person supplying the Principal with labor, material or supplies, used directly or indirectly by the Principal or any subcontractor in the Prosecution of the Work provided for in said Contract, and is further defined In Section 713.01 of the Florida Statutes, 2. The provisions of Section 255. 05 Florida Statute together with all notice and time Provisions contained herein shall apply. The above named Principal and Surety hereby jointly and severally agree with the County of Indian River that every Claimant as herein defined , who has not been paid in full before the expiration of a period of ninety (90) days after performanco of the labor or after complete delivery of materials and supplies by such claimant, may sus on this Bond for the use of such claimant, prosecute the suit to finaljudgment for such sums or sums as may be justly due claimant, and have execution thereon . :The County of Indian River shall not be liable for the Payment of any Costs or expenses of any such suit. 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 Jany such change, extension of time, alterations or 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.VII". 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 Substantial Completion 00612 - 1 00612 - Payment eond.dac PaYnICnt 80040C Re 0&9f WMPr�5 - Anw�m F"PCIANEADOWLARK WOODS PETITION WATER UCP 9232460 DOCUMENTS 1 , the TUOnglZ eea -