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V <br />SECTION 00612 - Payment Bond <br />KNOW ALL MEN BY THESE PRESENTS: <br />BY THIS BOND, we <br />J.W. <br />Cheatham, <br />LLC <br />7396 <br />Westport <br />Place <br />West Palm Beach, FL 33413 561-471-4100 as Principal <br />(Contractor), <br />(Insert name, principal business address, and telephone number of Princlpal/Contractor) <br />and <br />SAFECO Insurance Company of America <br />5792 Widewaters Parkway <br />Dewitt, NY 13214 315-449-2842 , a corporation, <br />as Surety, <br />(Insert name, principal business address, and telephone number of Surety) <br />are held and firmly bound unto the County of Indian River, Florida, 1800, 27th Street, Vero <br />Beach, Florida3 96% 7 2-5d67F 8000) <br />in the sum of Sixty Ninetan' t4 �t�a <br />l��nd,_Eight_ Dollars ($ 648,869.41), <br />amounting to 100% of the .total bid price. For the payment of said sum we bind ourselves, our <br />heirs, executors, administrators and assigql jointly and everally, for the faithful performance <br />of a certain written Contract, dated the day of, 20AL, <br />entered into between the Principal and the County of Indian Riv r, for: <br />Bond Number: 6554643 <br />Project Name: Powerline Road from C.R. 510 North to the Sebastian City <br />County Project Number: <br />Project Address: <br />0217 <br />Powerline Road from C.R. 510 North to the Sebastian City <br />Limits <br />Project Description: The project will consist of the Paving and Drainage <br />Improvements in Indian River County <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 <br />Principal shall promptly make payments to all claimants, as herein below defined, then this <br />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 />00612 -1 <br />F*TJVneerirWa01W PraiectW217-Powariine Ro"Bid Oocumente%00612 -Payment Bond.doo Rev. OW <br />00612 - Payment Bond <br />