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02/28/2006 16:21 5617409981 PJ S LANDCLEARING PAGE 08 Bond 11384356 PAYMENT BONA Know all men by these presents: P. J.'s Land Clearing & Excavating, Inc. By This Bond,we P.O. Box 540517 Greenacres, FL 33454-0517 (561)74Q-9938 (Insert n1% tit}ciTl business eddreas, and telephone number of Principal/Contractor) as Principal (Contractor) and 0 �ai €�eridgee'�rny Suite 206 Sarasota FL 4232 (941) 343-1100 (Insert name, principal business, and telephone number of Surety) a corporation, as Surety, are held and firmly bound unto the County of Indian River, Florida, 1840 25th Street, Vero Beach, Florida 32960, (772) 567-8000), in the sults of Thirty Eight Thousand Four Hundred Twenty--------------- Dollars($38,420.00 ), (Written Amount) (Numenc Amount) amounting to 100% of the total bid price. For payment of said stun we bind ourselves, our heirs, executors, administrations and assigns, jointly and severally, for the faithful performance of a certain written Contract, dated the21� day of March 20 06 entered into between the Principal and the County of Indian River, for: Bond Number: 384356 Project Name: Oslo Road Clearing. 8th Court SW to 27th Avenue SW Bid Number: 2006060 Project Address: 9th cmirt ';w ro 7 b. Ave- SW Project Description: Clearing Oslo Rd. - 8th. Court SW to 27th. Ave. SW A copy of said Contract is incorporated herein by reference and is made a part hereof as 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 claimant is defined as any person supplying the Principal with labor, material or supplies, used directly or indirectly by the 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. The provisions of Section 255.05 Florida Statutes shall apply. The above name Principal and Surety hereby jointly and severally agree with the County of Indian River that every claimant as herein defined, who has not bee 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 of Indian River 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: Page 34 of 39