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\. .. SECTION 8 BID BOND STATE OF FLORIDA COUNlY OF Miami-Dade KNOW ALL MEN BY THESE PRESENTS, that we, DOWNRITE ENGINEERING CORP. as Principal, and LIBERTY MUTUAL INSURANCE COMPANY , as Surety, are held and firmly bound unto the City of Sunny Isles Beach, a municipal corporation of the State of Florida in the sum of Five Percent of Bid Proposal Sub.Dollars ($5% --------), lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators and successors jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH that whereas the Principal has submitted the accompanying Bid dated, August 12 200Bfor: EMERGENCY DEBRIS CLEARING & REMOVAL OPERATIONS - RID PROTECT NO ~8-07-01 WHEREAS, it was a condition precedent to the submission of said Bid that a cashier's check or Bid Bond in the amount of five percent (5%) of the Base Bid be submitted with said Bid as a guarantee that the Proposer would, if awarded the Contract, enter into a written Contract with the City for the performance of said Contract, within ten (10) consecutive calendar days after written notice having been given of the Award of the Contract. NOW, THEREFORE, the conditions of this obligation are such that if the Principal within ten (10) consecutive calendar days after written notice of such acceptance, enters into a written Contract with the City of Sunny Isles Beach and furnishes the Performance and Payment Bonds, satisfactory to the City, each in an amount equal to one hundred percent (1 00%) of the Contract Price, and provides all required Certificates of Insurance, then this obligation shall be void; otherwise the sum herein stated shall be due and payable to the City of Sunny Isles Beach and the Surety herein agrees to pay said sum immediately, upon demand of the City, in good and lawful money of the United States of America, as liquidated damages for failure thereof of said Principal. IN WITNESS WHEREOF, the above bonded parties have executed this instrument under their several seals this 12th day of August ,2008, the name and the corporate seal of each corporate party being hereto affixed and these presents being duly signed by its undersigned representative. DOCUMENT CONTINUES ON NEXT PAGE 50