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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 : 1 . A claimant, as defined in Florida Statutes Section 255 .05 ( 1 ) , supplying Principal with labor, materials , or supplies , used directiyor Indirectly by Principal in the prosecution of the Work provided for in the Contract. 2 . Florida Statutes Section 255 .05 (2002) , as amended tom time to time , together with all notice and time pro%isions contained therein , is incorporated herein in its entirety by this reference . The Surety, for value received , hereby stipulates and agrees that no change , extension of time , Increase in Contract price , alteration of or addition to the terms of the Contract or to the Work to be performed thereunder or to the Drawings or Specifications applicable thereto, shall in anyway affect Its obligations on this Bond , and the Surety herebywaives notice of any such change , extension of time, alterations of or addition to the terms of the Contract, orto the Work or to the Specifications or to the Drawings. 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 "k'. 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 year commencing on the date of Final Completion as established on the 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 , thatthe County of Indian River sustains because of a default by the Principal under the Contract. IN WITNESS WHEREOF, the above bound parties executed this instrument under their several seals , this 20th day of May , 20.0, the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative , pursuant to authorityof its governing body. [The remainder of this page was left blank intentionally 4/09/03 PAYMENT BOND — ADDENDUM # 1 00612-2 F.Tublic WorksUCeithM%Sbormweter Prolactskgfford Easaconstruction ContrachBidding & Contract DocumentsOdding & Contract DocumentMG612 - Payment Bond - ADDENDUM *1 .doe