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' SECTION 00612 - PAYMENT BOND <br /> KNOW ALL MEN BY THESE PRESENTS : <br /> BY THIS BOND , we <br /> as Principal (Contractor) , <br /> ' (Insert name , principal business address , and telephone number of Principal/Contractor) <br /> and <br /> (Insert name , principal business address , and telephone number of Surety) a corporation , as Surety, <br /> ' are held and firmly bound unto the County of Indian River, Florida , 1840 , 25th Street , Vero Beach , <br /> Florida 32960 , ( 561 -567-8000) , <br /> in the sum of Dollars ($ ) , <br /> ' amounting to 100 % of the total bid price . For the payment of said sum we bind ourselves , our heirs , <br /> executors , administrators and assigns , jointly and severally, for the faithful performance of a certain <br /> written Contract, dated the day of , 20 , entered into between <br /> the Principal and the County of Indian River, for: <br /> ' Bond Number: <br /> Project Name : EAST GIFFORD STORMWATER IMPROVEMENTS <br /> ' County Project Number 9219 <br /> Project Address : The project is located south of 43`d Street , north of South Gifford <br /> Road (41st Street) , west of U . S . Highway 1 , and east of the Indian <br /> ' River Farms Water Control District, <br /> Project Description : The Contractor shall construct a storm\nater collection , <br /> conveyance , and detention system (6 ± acre wet pond ) in a poorly <br /> drained area west of the Florida East Coast Railroad track . It shall <br /> ' also construct a stormwater collection and conveyance system in <br /> the western right-of--way of U . S . Highway No . 1 . Stormwater runoff <br /> will drain into concrete drainage structures and it Wil be conveyed <br /> ' by concrete pipe . The Work also includes a bore and jack <br /> underneath the railroad track. The project is in the vicinity of the <br /> City of Vero Beach Municipal Airport and it will be regulated by the <br /> ' Federal Aviation Authority. Other permitting authorities include St. <br /> Johns River Water Management District and the Florida Department <br /> of Transportation . <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 Principal <br /> shall promptly make payments to all claimants , as herein below defined , then this obligation shall be <br /> ' 5/04/01 PAYMENT BOND 00612- 1 <br /> FAPublic Works\KeithM\Stormveter Projects\Gifford EashConstruction Contract\Bidding & Contract Documents\Bidding & Contract <br /> Documents\00612 - Payment Bond .doc <br />