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<br />SECTION 8 <br /> <br />BID BOND <br /> <br />STATE. OF. FLORIDA <br />COUNTY OF Miami-Dad, <br /> <br />) <br />) <br /> <br />KNOW ALL MEN BY THESE PRESENTS, that we, ARAZOZA BROTIJF.R~ CORP asPiincipal, and <br />LIBERTY MUTUAL INSURANCE COMPANY . 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 />*Five Percent of Bid Amount***Dollars ($ ****5%**"fc'awful 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 />admtnistrators 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, December 8 2008 for: <br />SR ALA/Collins Ave Streetsc~~e Imp-rQv~ments ITB 08-10~1 <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%) onhe Base Bid be submitted with said Bid asa guarantee that the <br />Bidder wouJd,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 illto 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%) afthe Contract Price,and provides all required <br />Certificates of Insurance, then this obligation shall be void; otherwise the sum hereir stated shall be due <br />and paYrb1e 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 ()f said Principal. <br /> <br />IN Wn:NESS WHEREOF, the above bonded parties have e?,ecuted this instrument under their several <br />seals this 8th 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 />DOCUMENTCONTINUES ON NEXT PAGE <br /> <br />PAGE 50 OF 130 <br />BlONo.08.10-01 <br />