Loading...
PINCREST 10 001,/, f.". " C,7, A4A;LnJ.un, f Bid Bond Pinecrest Villas Neighborhood Traffic Calming Phase II STATE OF FLORIDA COUNTY OF MIAMI -DADE KNOW ALL MEN BY THESE PRESENTS, that we, as Principal, and as Surety, are held and firmly bound unto the City of South Miami, a municipal corporation of the State of Florida in the sum of Dollars ($ ), 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, firmry by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH that: WHEREAS, the Principal has submitted the accompanying Bid dated for the Pinecrest Villas Nieghborhood Traffic Calming Improvements Phase 1. it was a condition precedent to the submission of said Bid that a Bid Bond in the amount of five percent (5%) of the Base Bid be submitted with said Bid as a guarantee that the BIDDER would, fulfill the obligations of the invitation to bid and bid documents; NOW THEREFORE, A. If the principal shall not withdraw said bid within ninety (90) days after the date for opening of the same, and shall, within ten (10) days after the prescribed forms are presented to it for signature, enter into a written contract with the Owner in accordance with the bid as accepted, and give bonds with good and sufficient surety or sureties, as may be required, for the faithful performance and proper fulfillment of such contract, then the above obligations shall be void and of no effect, otherwise to remain in full force and effect. B. However, in the event of the principal's unauthorized withdrawal of said bid within ninety (90) days after the date of the opening of the same or the failure to enter into a written contract with the Owner in accordance with the bid as accepted, and /or the failure to provide the City with bonds issued from good and sufficient surety or sureties, as may be required, for the faithful performance and proper fulfillment of such Contract within ten (10) days after the prescribed forms are presented to it for signature and /or in the event that the principal is not awarded the bit but fails to waive all claims that arose or might have arisen out of the bid process in the event that the bid is not awarded to the principal, then the above obligations shall remain in full force and effect and the bond shall thereafter be disburse, by court order, to the Owner in the full amount of the bond if the Bid Documents provide for liquidated damages under the circumstance of the case or, if liquidated damages are not applicable, then in an amount that is adequate to fully compensate the Owner for all of its damages incurred due to the breach of the terms of this Bond, including all attorney fees, court costs and legal expense incurred by the City for any and all proceedings required to obtain the court order of disbursement, including the cost of all appeals or other proceedings, as well as the fees and costs incurred to collect these damages. IN WITNESS WHEREOF, the above bonded parties have executed this instrument under their several seals this day of , 2012, the name and the corporate seal of each corporate party being hereto affixed and these presents being duly © thomasfpepe-09 -28 -1I (Updated 05 -16 -2012) Page 15