2003-014 - Laserfiche WebLink

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The above name Principal and Surety hereby jointly and severally agree with the County of Indian River that every claimant as herein defined, who has not been paid in full before the expiration of a period of ninety (90) days after performance of the labor or after complete delivery of materials and supplies by such claimant,may sue on this Bond for the use of such claimant,prosecute the suit to final judgement for such sums or sums as maybe justly due claimant, and have execution thereon.The County of Indian River shall not be liable for the payment of any costs or expenses of any such suit. No suit or action shall be commenced hereunder by any claimant: 1. Unless c laimant,o then t han o ne h aving a d irect c ontract w ith t he P rincipal,s hall w ithin forty five (45) days after beginning to fiunish labor, materials or supplies for the prosecution of the work, furnish the Principal and Surety with a notice that he intends to look to this Bond for protection. 2. Unless claimant, other than one having a direct contract with t he P rincipal,shall within ninety(90)d ays a fter su ch c laimant's p erformance o f t he 1 abor o r c omplete d etivery o f materials or supplies, deliver to the Principal and Surety written notice of the performance of such labor or delivery of such material or supplies and the nonpayment therefore. 3. After the expiration of one (1)year from the performance bf the labor or completion of delivery of the materials or supplies; it being understood, however, that if any limitation embodied in this Bond is prohibited by any law controlling the construction hereof, such limitations shall be deemed to be amended, so as to be equal to the minimum period of limitation permitted by such law. 4. Other then in a state court of competent jurisdiction in and for Indian River County, Florida, or in the United States District Court for the Southern District of Florida, and not elsewhere. The Surety, for value received,hereby stipulates and agrees that no charge, extension of time,alteration of or addition to the terms of the Contract or to the work to be performed thereunder or to the Specifications applicable thereto, shall in any way affect its obligations on this Bond, and the Surety hereby waives notice of any such change, extension of time, alterations of or addition to the terms of the Contract, or to the work or to the Specifications. The Surety represents and warrants to the County of Indian River that it has a Best's Key Rating Guide, General Policyholder's rating of"A"and Financial Size Category of Class "X". The Principal and Surety jointly and severally covenant and agree that this Bond will remain in full force and effect for a period of one year commencing on the date of Final Completion as established on the Certificate of Final Completion as issued by the County of India River. The Principal and Surety jointly and severally, agree to pay the County of Indian River all losses, c� damages, expenses, costs, and attorney's fees, including appellate proceedings, that the County of Indian River sustains because of a default by the Principal under the Contract. IN WITNESS WHEREOF,the above bound parties executed this instntment under their several seals, this 28th day of March -2 20the name and corporate seal of each corporate party being flo 0 -J C7