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obligation shall be void; otherwise, this Bond shall remain in full force and effect, subject to the <br />following terms and conditions: <br />1. A claimant, as defined in Florida Statutes Section 255.05(1), supplying Principal with <br />labor, materials, or supplies, used directly or indirectly by Principal in the prosecution <br />of the Work provided for in the Contract. <br />2. Florida Statutes Section 255.05 (2002), as amended from time to time, together with <br />all notice and time provisions contained therein, is incorporated herein in its entirety <br />by this reference. <br />The Surety, for value received, hereby stipulates and agrees that no charge, extension of time, <br />alteration of or addition to the terms of the Contract or to the work to be performed thereunder <br />or to the Specifications applicable thereto, shall in any way affect its obligations on this Bond, <br />and the Surety hereby waives notice of any such change, extension of time, alterations of or <br />addition to the terms of the Contract, or to the work or to the Specifications. <br />The Surety represents and warrants to the County of Indian River that it has a Best's Key <br />Rating Guide, General Policyholder's rating of "A" and Financial Size Category of Class "X". <br />The Principal and Surety jointly and severally covenant and agree that this Bond will remain in <br />full force and effect for a period of one year commencing on the date of Final Completion as <br />established on the Certificate of Final Completion as issued by the County of Indian River. <br />The Principal and Surety jointly and severally, agree to pay the County of Indian River all <br />losses, damages, expenses, costs, and attorney's fees, including appellate proceedings, that <br />the County of Indian River sustains because of a default by the Principal under the Contract. <br />[The remainder of this page was left blank intentionally) <br />00612 - Payment Bond REV 04-07 <br />00612 - 2 <br />F.*A91nOWWq CWLa1 ProjecWWM 17th Lens SW Road "y krprovenwls from 27th Ave b opprox. 900 LF 0531 of 271h AveMMM Contract Doowrants100612 . Payment <br />Bond REV 04-07.doc Rev. 05101 <br />