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<br />L <br /> <br />SECTION 8 <br /> <br />BID BOND <br /> <br />STATE OF FLORIDA <br />COUNTY Of ~~\.::~ <br /> <br />KNOW ALL MEN BY THESE PRESENTS, that we, ValleyCrest Landscape Development, Inc. as Principal, and <br />Safeco Insurance Com any Of America as Surety, are held and firmly bound <br />unto the City of Sunny Isles Beach, a municipal corporation of the State of Florida In the sum of <br />2~ Percent ~A~.~~t Bid _ Dollars ($ 5% ), lawful money of the United States, for <br />the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, <br />administrators and successors jointly and severally, firmly by these presents. <br /> <br />THE CONDITION OF THIS OBLIGATION IS SUCH that whereas the Principal has submitted the <br />accompanying Bid dated, ~S~!l.1~~!~____2008 for: <br />SR AlA/Collins Avenue Streetscape <br /> <br />WHEREAS, it was a condition precedent to the submission of said Bid that a cashier's check or Bid Bond <br />In the amount of five percent (5%) of the Base Bid be submitted with said Bid as a guarantee that the <br />Bidder would, if awarded the Contract, enter into a written Contract with the City for the performance of <br />said Contract, within ten (10) consecutive calendar days after written notice having been given of the <br />Award of the Contract. <br /> <br />NOW, THEREfORE, the conditions of this obligation are such that if the Principal within ten (10) <br />consecutive calendar days after written notice of such acceptance, enters into a written Contract with the <br />City of Sunny Isles Beach and furnishes the Performance and payment Bonds, satisfactory to the City, <br />each in an amount equal to one hundred percent (100%) of the Contract Price, and provides all required <br />Certificates of Insurance, then this obligation shall be voidi otherwise the sum herein stated shall be due <br />and payable to the City of Sunny Isles Beach and the Surety herein agrees to pay said sum immediately, <br />upon demand of the City, in good and lawful money of the United States of America, as liquidated <br />damages for failure thereof of said Principal. <br /> <br />IN WITNESS WHEREOF, the above bonded parties have executed this instrument under their several <br />seals thls_4!!L-------day of December _______-------'20~ the name and the corporate seal <br />of each corporate party being hereto affixed and these presents being duly signed by its undersigned <br />. representative; - <br /> <br />DOCUMENT CONTINUES ON NEXT PAGE <br /> <br />PAGE 50 Of 130 <br />BID No. 08-10-01 <br /> <br />~~ <br /> <br />