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SECTION 00610 Performance Bond
<br /> 'rIrlr KNOW ALL MEN BY THESE PRESENTS :
<br /> BY THIS BOND , we , as
<br /> Principal , and ,
<br /> a corporation , as Surety , are held and firmly bound unto the County of Indian River, Florida , in
<br /> the sum of Dollars
<br /> ($ ) , amounting to 125 % of the total bid price . For the payment of said sum
<br /> we bind ourselves , our heirs , executors , administrators and assigns , jointly and severally, for
<br /> the faithful performance of a certain written Contract , dated the day of
<br /> , 20_, entered into between the Principal and the County of Indian River, for:
<br /> Project Name :
<br /> County Project Number
<br /> (Project Address :
<br /> Project Description;
<br /> A copy of said Contract is incorporated herein by reference and is made a part hereof as if fully
<br /> copied herein .
<br /> NOW , THEREFORE , THE CONDITIONS OF THIS OBLIGATION ARE SUCH , that if the
<br /> Principal shall in all respects comply with the terms and conditions of said Contract and its
<br /> obligations thereunder, including all of the Contract Documents therein referred to and made a
<br /> 'tet✓ part thereof, and such alterations as may be made in the Contract Drawings and Specifications
<br /> as therein provided for, and shall indemnify and save harmless the County of Indian River
<br /> against and from all expenses , damages , injury or conduct , want of care of skill , negligence or
<br /> default, including patent infringement on the part of the Principal , his agents or employees , in
<br /> the execution or performance of said Contract , including errors in the Drawings furnished by the
<br /> Principal , and further, if the Principal shall promptly make payments to all who supply him with
<br /> labor and/or materials used directly or indirectly by the Principal in the prosecution of the Work
<br /> provided for in said Contract , then this obligation shall be null and void ; otherwise , the Principal
<br /> and Surety , jointly and severally, agree to pay the County of Indian River any difference
<br /> between the sum that the County of Indian River may be obliged to pay for the completion of
<br /> said Work , by contract or otherwise , and any damages , whether direct, indirect , or
<br /> consequential , including reasonable attorney's fees ( including appellate proceedings) , which the
<br /> County of Indian River may incur as a result of the failure of the Principal to properly execute all
<br /> of the provisions of the Contract.
<br /> AND , the said Principal and Surety hereby further bind themselves , their successors , executors ,
<br /> administrators and assigns , jointly and severally , that they will amply and fully protect the
<br /> County of Indian River against , and will pay any and all amounts , damages , costs and
<br /> judgments which may be recovered against or which the County of Indian River may be called
<br /> upon to pay to any person or corporation by reason of any damage arising from the
<br /> performance of the said work , repair or maintenance thereof, or the manner of doing the same ,
<br /> or his agents or his servants , or the infringements of any patent rights by reason of the use of
<br /> any material furnished or work done , as aforesaid or otherwise .
<br /> ... AND , the said Surety , for value received , hereby stipulates and agrees that no change ,
<br /> extension of time , alteration or addition to the terms of the Contract or to the work
<br /> to be
<br /> 00610 Performance Bond
<br /> 00610 - 1
<br /> FAUtilities\UTILITY • ENGINEERING\Projects - Utility Construction Permits\IRC - Labor Contract RE-BID for 2005-2006\BID DOCUMENTS - USE ONLY FOR THIS
<br /> PROJECT\BID DOCUMENTS\00610 Performance Bond .doc Rev. 05/01
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