Trans Florida Development Corp - Exhibit 6 Performance Bond EXHIBIT-6
PERFORMANCE BOND
Project Manual Form of Performance Bond
Bond
no 105 517 `.
X0 14 FO of PERFORMANCE BOND:
BY TH IS BOND,@ Trans Florida "Developm Corp. ?
a
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Principal, hereinafter called "CONTRACTOR; and T anbgf' m
ra�e.Iers Easualty and Surety Eomp A erica
Surety, are bound to the City of Miami Beach, Florida; as Qbligee, Hereinafter called CITY,
in the amou of an initial O ne Million Dollars ($1,000,000 ), for Streetscape U tiliti e s, for the
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payment ment whereof, "CONTRACTOR. and Surety bind themselves,._ their. heirs, executors,
administrators, successors and assigns, jointly and, severally.
WHEREAS, . CONTRACTOR has- by written agreement entered into a Contract 176
37 -09/10
No.: awarded the day of , 20
with CITY which Contract Documents are by reference incorporated :`herein' and made a
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part hereof,: and specifically include provision for liquidated d ama g es,[ and other damages.
identified, and for the ,purposes of this Bond are hereafter referred to as the "Contract ';
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THE CONDITION OF THIS BOND is that if CONTRACTOR:
1: Performs the*, Contract between CONTRACTOR and CITY' for construction of Job
Order Contract :ITB ' 37=09/10 Streetscape', Utilities
_ the Contract being made
part of this Band by reference, at th e times and in the manner prescribed in the
Contract; and
2. Pays CITY all losses, liq uidated darnag expenses, costs and attorneys fees
including: appellate. proceedings that CITY` sustains as a result of default. by
CONTRACTOR under the Contract; and.
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3. Performs the:. guarantee of all work and materials furnished under the
Cont race fo:r t he . t ime "s P ecified ri t he Cont• race; t hen THIS BOND JS VOID ;"
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OTHERWISE IT REMAINS IN FULL FORCE AND EFFECT.
:Whenever CONTRACTOR shall be, and declared. by CITY to . be, in default
under the Cflntracfi CITY having performed obligations thereunder; the
Surety may promptly remedy the default, or shall prom tI
P . Y�' .
3.1.
Complete the Projecfi in` accordance with ' the. terms ; and conditions of the
Contract Documents; or
3.2. Obtain a bid " bids: " for - completing the Project in ", accorda nce with the terms
and conditions of the Contract Documents, and upon determination. by
Surety ` of, the lowest responsible Bidder, or, if CITY elects, upon
determination by CITY- and Surety jointly of the lowest respons ible'
arrange fora contract between such Bidder and CITY, and make available
as work progresses (even though there should be a default-or a succession.
: July 2010 City of Miami_Beach Page 1'62 of 185
Project Ma' nual Form of Performance Bond
of defaults under the Contract 'or Contracts of completion arranged under
this paragraph) .sufficient, funds to : pay: the cost _ot - completion less' the
balance of the J Order: Amount; but not exceedi . g, including other costs. `
and damages for which the Surety may be liable hereunder, the amount set
forth in the . first paragraph hereof: The - term "balance of the- Job 'Order
:. Amount " as used in this ara ra h shall `mean the total amount. payable, b
P 9 p: P y Y ;.
CITY CONTRACTOR under the Contract and any amendments thereto,
less the amount properly paid by CITY to CONTRACTOR.
No right action shall accrue on- this `bond to. or for thie.use of any person
or corporation other than CITY named herein.
The, Surety hereby waives not ice .of and agrees that any changes in or under
the Cbht ract Documents and compliance or, noncompliance with any
formalit ies , connected ' with the Cont ract or the changes does, not affect
Surety,`s. obligat ion, under this Bond.
Signed and sealed.. this _- �� day .of , ' 0 4 44 f/Z , -2a
WITNE
,
Trans Florida Development Corp.
Name of Corporation)
S cret i a itle
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AL
ll DD - f' '>
- �CGF�CRATE SEAL }:
4 •� -
y a_ M pe Name/Title Signed Above}
g day of 20
J
r Travelers Casualty and Surety Compah' of America
.IN .THE PRESENCE OF:
INS CE COMP
B
ge a d Attorney -in -Fact
Charles J. Nielson.,.. }
' One Tower Square . ..;.-
Add r ess: 'Sfreet)
Hartford, CT 06183
(City/S tate/Zip)
- -
860 277 0111.
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Telephone No..
Duty 2D#{l City of lVliami Beach Page 163 of 185
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Project flanual Form of Performance Bond
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July 2010. City o #Miami Beach Page 164 of 185 11 � ". " , � � -� , ` * . � I 1 . ,�, - - . � I ... .� I '. I : I .1 � � I'� .1 , I