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INDIAN RIVER COUNTY MITIGATION REEF PROJECT - SHORELINE SECTORS 1 & 2 (AMBERSAND BEACH) PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS : That we , as Principal, and as Surety, are held and firmly bound unto the County of Indian River in the sum of Dollars ($ ), amounting to 100% of the total bid price, for the payment of said sum we bind ourselves, our heirs, executors, administrators and assigns, jointly and severally, for the faithful performance of a certain written contract, dated the day of 2003 , entered into between the Principal and the County of Indian River, Florida, for: 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 effect, subject to the following terms and conditions : A. A claimant is defined as any person applying the Principal with labor, material and supplies, used directly or indirectly by the said 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 . B . The provisions of Section 255 . 05 Florida Statutes 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 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 shall not be liable 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 , shall within forty- five (45 ) days after beginning to furnish labor, materials or supplies for the prosecution of the work, furnish the Principal and Surety with a notice that he intends to look to this bond for protection. 2 . Unless claimant, or 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 and supplies , deliver to the Principal and Surety written notice of the performance of such labor or delivery of such material and supplies and the nonpayment therefore. PAYMENT BOND PA- 1