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1573919 RECORDED IN THE RECORDS OF JEFFREY K BARTON , CLERK CIRCUIT COURT INDIAN RIVER CO FL , BK : 1778 PG : 777 , 08 / 31 / 2004 10 : 54 AM * * * * Bond # OCN545279 * * PERFORMANCE BOND * * The American Institute of Architects, * * AIA Document No . A312 (December, 1984 Edition) * * * Any singular reference to Contractor, Surety , Owner or other party shell be considered plural where applicable . CONTRACTOR (Name and Address) : OWNER (Name and Address): Underground Utilities, Inc. Indian River County Board of County Commission 390 - 21st Street, S.E. 2625 - 19th Avenue Vero Beach, FL 32%2 Vero Beach, FL 32960 CONSTRUCTION CONTRACT SURETY (Name and Principal Place of Business): Old Republic Surety Company Date: P.O. Box 4668 Amount $ 167,500.00 Winter Padc, FL 327934668 Description (Name and Location): IRC Bid # 6088; Water Main Project along U.S. Highway #1 from Garden Grove to Grove Isle Estates. Bond # OCN545279 Date (Not earlier than Construction Contract Date): August 26, 2004 Amount. 5209,375.00 Modifications to this Bond : ® None ❑ See Page 2 CONTRACTOR AS PRINCIPAL SURETY CompaltX ' t �� i ' : , ' •_'' (Corporate Seal) Company : ( Orporpts'8eel) UOld Republic Surety Company , - . A pi G Slgrvp/iA : ; 'u Signature: Name and h Prpcii&Rt Name and Ty1f James E. Didm2eyer, 0•1 (Any additionIalpn>♦ty'r1q. Baer on page 2.) �- (FOR INFORMATION Only- Name, Address end Telaphone) OWNER'S REPRESENTATIVE (Architect, Engineer or either AGENT or BROKER : The Didcmeyar Agency party): 607 SL Lucie Crescent, Stuart, FL 34994 1 The Contractor and the Surety, jointly and severally, bind them- 3.3 The Owner has agreed to pay the Balance of the Contract Price selves, their heirs, executors, administrators, successors and assigns to the Surety In accordance with the terms of the Construction to the Owner for the performance of the Construction Contract, which Contract or to a contractor selected to perform the Construction Is incorporated herein by reference. Contract in accordance with the terms of the contract with the 2 If the Contractor performs the Construction Contract, the Surety and Owner. the Contractor shall have no obligation underthle Bond, except to par- 4 When the Owner has satisfied the oondltions of Paragraph 3, the ticipete In conferences as provided in Subparagraph 3. 1 . Surety shall promptly and at the Surety's expense take one of the 3Ifthere Is no Owner Default/ the Surety's obligation under this Bond following actions: shall arise after: 3. 1 The Owner has notified the Contractor and the Surety at Its 4. 1 Arrange for the Contractor with consent of the Owner, to address described in Paragraph 10 below that the Owner Is con- perform and complete the Construction Contract; or sidering declaring a Contractor Default and has requested and attempted to arrange a conference with the Contractor and the 4.2 through to o.T Undertake tperform and complete or through Independent contractors; ct ts the Construction Contra Surety to be held not later than firteen days after receipt of such or notice to discuss methods of performing the Construction Contract. 4.3 Obtain bids or negotiated proposals from qualified contractors If the Owner, the Contractor and the Surety agree, the Contractor acceptable to the Owner for a contract for performance and com- shall be allowed a reasonable time to perform the Construction Con- pletion of the Construction Contract, arrange for a contract to be tract, but such an agreement shall notweive the Owner's right, if prepared for execution by the Owner and the contractor Wanted any, subsequently to declare a Contractor Default; and with the Owner's concurrence, to be secured with performance 3.2 The Owner has declared a Contractor Default and formally and payment bonds executed by a qualified surety equivalent to terminated the Contractors right to complete the contract Such the bonds Issued on the Construction Contract, and pay to the Contractor Default shall not be declared earlier than twenty days Owner the amount of damages as described in Paragraph 6 In after the Contractor and Surety have received notice as provided excess of the Balance of the Contract Price incurred by the Owner In Subparagraph 3. 1 ; and resuming from the Contractors default; or ORSC 22110 (10-93) Page 1 of 2