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~ ;~ Liberty, ~ Mutual. Interchange Corporate Center 450 Plymouth Road, Suite 400 Plymouth Meeting, PA, 19462-1644 Ph. (610) 832-8240 BID BOND Bond Number: N/A KNOW ALL MEN BY THESE PRESENTS, that we Misener Marine Construction, Inc. , as principal (the "Principal"), and LIBERTY MUTUAL INSURANCE COMPANY, a Massachusetts stock insurance company, as surety (the "Surety"), are held and firmly bound unto City of Sunny Isles Beach , as obligee (the "Obligee"), in the penal sum of Five Percent of Greatest Amount Bid------------------------------------- Dollars ($5% GAB), for the payment of which sum well and truly to be made, the said Principal and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal has submitted a bid for: RFP #10-07-02 Professional Construction Services for the Demolition and Construction of the Historic Sunny Isles Beach/Newport Fishing Pier at Pier Park NOW, THEREFORE, if the Obligee shall accept the bid of the Principal within the period specified therein, or, if no period be specified, within sixty (60) days after opening, and the Principal shall enter into a contract with the Obligee in accordance with the terms of such bid, and give such bond or bonds as may be specified in the bidding or contract documents, or in the event of the failure of the Principal to enter into such contract and give such bond or bonds, if the Principal shall pay to the Obligee the difference in money not to exceed the penal sum hereof between the amount specified in said bid and such larger amount for which the Obligee may in good faith contract with another party to perform the work covered by said bid, then this obligation shall be null and void; otherwise to remain in full force and effect. In no event shall the liability hereunder exceed the penal sum hereof. PROVIDED AND SUBJECT TO THE CONDITION PRECEDENT, that any claim by Obligee under this bond must be submitted in writing by registered mail, to the attention of the Surety Law Department at the address above, within 120 days of the date of this bond. Any suit under this bond must be instituted before the expiration of one (1) year from the date of this bond. If the provisions of this paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense in the jurisdiction of the suit shall apply. DATED as of this 17th day of August, 2010. WITNESS / ATTEST: Misener Marine Construction, Inc. (Principal) B~.? /~ N .:An1.eS L. e..S<- Itle: p~: de-4 LIBERTY MUTUAL INSURANCE COMPANY (Surety) By ~~~ -Mar . Boots, t orney-in-Fact __(Seal) (Seal) LMIC-5000 Rev. 3/04