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SECTION 00430 - Bid Bond
<br /> KNOW ALL MEN BY THESE PRESENTS , that we
<br /> (BIDDER'S NAME)
<br /> J . W . Cheatham LLC as Principal ,
<br /> and SAFECO Insurance Company of America
<br /> (SURETY'S NAME) Washington
<br /> a corporation duly organized under the Laws of the State of Matte► as a Surety with its principal
<br /> offices in the City of Seattle and authorized to do business in the State of
<br /> Florida , are held and firmly bound unto INDIAN RIVER COUNTY (hereinafter called the
<br /> OWNER) in the penal sum of
<br /> Dollars ($ ) , lawful money of the United States ,
<br /> amounting to 5% of the total bid price , for the payment of which sum well and truly be made, we
<br /> bind ourselves , our heirs , executors , administrators, and successors, jointly and severally, firmly
<br /> by these presents .
<br /> Whereas said Principal is herewith submitting a Bid dated March 19 , 2008 ,
<br /> for the construction of:
<br /> Project Name : Powerline Road from C R 510 North to the Sebastian City Limits
<br /> County Project Number: 0217
<br /> Project Address: Powedine Road from C R 510 North to the Sebastian City Limits
<br /> Project Description : The proiect consists of paving an existing two-lane marl-road with a
<br /> southbound left tum at C R 510 which includes drainage improvements maintained by Indian
<br /> River County , Florida .
<br /> NOW THEREFORE , the condition of the above obligation is such that if the Principal does not
<br /> withdraw said Bid within the period of time set forth in the Bid Documents , and on or before the
<br /> fifteenth day after the Notice of Award , the Principal enters into a written contract with the
<br /> OWNER in accordance with the Bid as accepted , and if the Principal gives the required bonds
<br /> with good and sufficient sureties for the faithful performance and proper fulfillment of such
<br /> Contract and for the protection of laborers and materialmen , then this obligation shall be null
<br /> and void . Otherwise , the Principal and Surety , jointly and severally, shall on or before the
<br /> sixtieth day after request by the OWNER , pay to the OWNER in money, the difference between
<br /> the amount specified in said Bid and the amount for which the OWNER may procure the
<br /> required work if the latter amount is greater than the former, together with any expense and
<br /> reasonable attorney fees , including appellate proceedings, incurred by the OWNER if suit is
<br /> brought hereon , but in no event shall Surety Is liability exceed the penal sum hereof plus such
<br /> expenses and attorney's fees .
<br /> IN WITNESS WHEREOF , the above-bound parties have executed this instrument under their
<br /> several seals this 13thday of March , 20 08 , the name and corporate seal
<br /> of each corporate party being hereto affixed and these presents duly signed by its undersigned
<br /> representative pursuant to authority of its governing body .
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<br /> 00430 - Bid Bond
<br /> 00430 - 1
<br /> F:1Enginoedn9%Cep1lal ProjecUa10217-Powedine Road%Bid Documenle\0043o - Bid Bond,dcc Rev. 05101
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