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i i BID BOND i KNOW ALL MEN BY THESE PRESENTS , that we (BIDDER' S NAME) Principal, and (SURETY'S NAME) ` a corporation duly organized under the Laws of the State of Florida as a Surety with its principal offices in the City of and authorized to do business in the State of Florida, are held and _ firmly bound unto INDIAN RIVER COUNTY (hereinafter called the OWNER) in the penal sum of _ Dollars ($ ) , lawful money of the United States, amounting to 5 % of the total bid price, for the payment of which sum well and truly be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly i by these presents. Whereas said Principal is herewith submitting a Bid dated 20_ i for the construction of: Project Name : Bid Number: i Project Address : Project Description: .. NOW THEREFORE, the condition of the above obligation is such that if the Principal does not withdraw said Bid within the period of time set forth in the Bid Documents, and on or before the fifteenth day after the Notice of Award, the Principle enters into a written contract with the OWNER in accordance with the .. Bid as accepted, and if the Principal gives the required bonds with good and sufficient sureties for the faithful performance and proper fulfillment of such Contract and for the protection of laborers and materialmen, then this obligation shall be null and void. Otherwise, the Principal and Surety, jointly and .. severally, shall on or before the sixtieth day after request by the OWNER, pay to the OWNER in money, the difference between the amount specified in said Bid and the amount for which the OWNER may procure the required work if the latter amount is greater than the former, together with any expense and reasonable attorney fees, including appellate proceedings, incurred by the OWNER if suit is brought hereon, but in no event shall Surety' s liability exceed the penal sum hereof plus such expenses and attorney' s fees. IN WITNESS WHEREOF, the above-bound parties have executed this instrument under their several seals this _ day of 20_, the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative pursuant to authority of its governing body. r Page 20 of 40