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BK : 1959 PG : 1884 Bxd III OCN558287 SECTION 00812 - Payment Bond KNOW ALL MEN BY THESE PRESENTS: BY THIS BOND , we Underciround utilities , Inc , a corporation , as Surety, are held and flrrnly bound unto the County of Indian River, ias n - 05'1 i the sum of ctrl 05'1 100% of the total bid price. For the — Dolars (S 27.m we bind ourselamounting to executors, administrators and assigns, jointly and severely, Ply for the faithful Performance our hers, y certain written Contract, dated the day of Performance of a into between the Principal and the County of Indian River, for: 20 entered Project Name: W ter Assessment Project County Project Number: U Project. Addnttss: . : Pia '� : R.. Project Description: Residential Water digtrt� rtN., A copy of said Contract is incorporated herein 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 the effect, subject to following terms and conditions : 1 . A claimant is defined as any person supplying the Principal with labor, material or supples, 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 ssverally 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 performance of the labor or after complete 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 gable 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 C? or to the Specifications applicable thereto, shall in any way affect Its obligations on this Bond, `z 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 worts or to the Specifications. co The Surety represents and warrants to the County Rating Guide, General policyholder's rating of "A-V . of Indian River that it has a Bests Key p 4� The Principal and SureQ V full force and effect fora Jor�Y and severely covenant and agree that this Bond will remain in VO Q Z" period of one year commencing on the date of Substantial Completion V �O Q � Q 00012 • , 008, 2 - Payment Bond Q O0"IV F:1UhnNRW7yTY . ENOiNEEjiM(OV'qeh , ANMOrtrm RopttfldlOCK 1KLA WATTOt Prm'pN WAy" =RVCe4NO000 WAr6%Mg2 • potw4M land.doc Wv. � , d 6zz9 - 662 - ZGL yauaJj 09joaD dgZ : 21 SO EO ACW I I