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02/28/2006 16:21 5617409981 PJ S LANDCLEARING PAGE 13 <br />1 <br />0J <br />BID BOND <br />KNOW ALL MEN BYTHESE PRESENTS, that we P•J.'s Land Clearing &Excavating, Inc. - <br />P.O. Box 540517, Greenacres, FL 33454-0517 as <br />(BIDDER'S NAME) <br />Principal, and RLI Insurance Company <br />(SURETY'S NAME) <br />a corporation duly organized under the Laws of the State of Florida as a Surety with its principal offices <br />in the Cityof Sarasota and authorized to do business in the State of Florida, are held and <br />firmly bound unto INDIAN RIVER COUNTY (hereinafter called the OWNER) in the penal sum of _ <br />Five Percent of amount bid Dollars ($ 5% of amt. bid ), lawful money of the <br />United States, amounting to 5% of the total bid price, for the payment of which sum well and truly be <br />made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly <br />by these presents. <br />Whereas said Principal is herewith submitting a Bid dated March 1. _ 20_0b <br />for the construction of <br />Project Name: Oslo Rd. Clearing <br />Bid Number: 2006060 <br />Project Address: 8th. Court SW to 27th. Avenue SW <br />Project <br />Description: <br />Clearing <br />Oslo Rd. Clearing, 8th. Court SW to 27th. <br />Avenue <br />SW, bid $2006060 <br />NOW THEREFORE, the condition of the above obligation is such that if the Principal does not withdraw <br />said Bid within the period of time set forth in the Bid Documents, and on or before the fifteenth day after <br />the Notice of Award, the Principle enters into a written contract with the OWNER in accordance with the <br />Bid as accepted, and if the Principal gives the required bonds with good and sufficient sureties for the <br />faithful performance and proper fulfillment of such Contract and for the protection of laborers and <br />materialmen, then this obligation shall be null and void. Otherwise, the Principal and Surety, jointly and <br />severally, shall on or before the sixtieth day after request by the OWNER, pay to the OWNER in money, <br />the difference between the amount specified in said Bid and the amount for which the OWNER may <br />procure the required work if the latter amount is greater than the former, together with any expense and <br />reasonable attorney fees, including appellate proceedings, incurred by the OWNER if suit is brought <br />hereon, but in no event shall Surety's liability exceed the penal sum hereof plus such expenses and <br />attorney's fees. <br />IN WITNESS WHEREOF, the above -bound parties have executed this instrument under their several <br />seals this i st.day of March 20.L6, the name and corporate seal of each corporate party <br />being hereto affixed and these presents duly signed by its undersigned representative pursuant to authority <br />of its governing body. <br />Page 19 of 39 <br />