2008-025 - Laserfiche WebLink

Home Browse Search

r Unless claimant, other than one having 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. Unless claimant, other than one having direct contract with the Principal, shall within ninety (90) days r after such claimant's performance of the labor or complete delivery of materials or supplies; deliver to the Principal and Surety written notice of the performance of such labor or delivery of such materials or supplies and the nonpayment therefore. r After the expiration of one (1) year from the performance of the labor or completion of delivery of the materials or supplies; it being understood, however, that if any limitation embodied in this Bond is r prohibited by any law controlling the construction hereof, such limitations shall be deemed to be amended, so as to be equal to the minimum period of limitation permitted by such law. r . Other then in a state court of competent jurisdiction in and for Indian River County, Florida, or in the United States District Court for the Southern District of Florida, and not elsewhere. M 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 r applicable thereto, shall in any way affect its obligations on this Bond, 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 do the work or to the Specifications. r 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' and Financial Size Category of Class "X". r 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 (1) year commencing on the date of Final Completion as established on the r Certificate of Final Completion as issued by the County of Indian River. The Principal and Surety jointly and severally, agree to pay the County of Indian River all losses, �. damages, expenses, costs, and attorney's fees, including appellate proceedings that the County of Indian River sustains because of a default by the Principal under the Contract. +� In Witness Wher of, the above bound parties executed this instrument under their several seals, this _ I day of „ar.. .20-0-t the name and corporate seal of each corporate parry being hereth affixed and these presents duly signed by its undersigned representative, r pursuant to authority of its governing body. r M C C Page 36 of 40 e-