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<br />SECTION 8 <br />BID BOND <br /> <br />STATE OF FLORIDA <br />COUNTY OF <br /> <br />KNOW ALL MEN BY THESE PRESENTS, that we, as Principal, and <br />, as Surety, are held and firmly bound unto the <br />City of Sunny Isles Beach, a municipal corporation of the State of Florida in the sum of <br />Dollars ($ ), lawful money of the Unned States, for the payment <br />of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators and successors <br />jointly and severally, firmly by these presents. <br /> <br />THE CONDITION OF THIS OBLIGATION IS SUCH that whereas the Principal has submitted the accompanying Bid <br />dated, 2008 for: <br /> <br />WHEREAS, it was a condition precedent to the submission of said Bid that a cashier's check or Bid Bond in the <br />amount of five percent (5%) of the Base Bid be submitted with said Bid as a guarantee that the Proposer would, if <br />awarded the Contract, enter into a written Contract with the City for the performance of said Contract, within ten (10) <br />consecutive calendar days after written notice having been given of the Award of the Contract. <br /> <br />NOW, THEREFORE, the conditions of this obligation are such that if the Principal within ten (10) consecutive <br />calendar days after written notice of such acceptance, enters into a written Contract wnh the City of Sunny Isles <br />Beach and furnishes the Performance and Payment Bonds, satisfactory to the City, each in an amount equal to one <br />hundred percent (100%) of the Contract Price, and provides all required Certificates of Insurance, then this obligation <br />shall be void; otherwise the sum herein stated shall be due and payable to the City of Sunny Isles Beach and the <br />Surety herein agrees to pay said sum immediately, upon demand of the City, in good and lawful money of the United <br />States of America, as liquidated damages for failure thereof of said Principal. <br /> <br />IN WITNESS WHEREOF, the above bonded parties have executed this instrument under their several seals this <br />day of ,2008, the name and the corporate seal of each corporate party <br />being hereto affixed and these presents being duly signed by its undersigned representative. <br /> <br />DOCUMENT CONTINUES ON NEXT PAGE <br /> <br />itJP- <br /> <br /> <br /> <br />50 <br />