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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:1EngInewWg%Csp1La1 ProjecWWM 17th Lens SW Roedaray Improvements from 27th Ave b approx. 900 LF eest of 271h Ave1060.7 Contract Do wrante100612 . Payment <br /> Bond REV 04-07.doc Rev. 05101 <br />