Exhibit 6 Performance BondExhibit 6
Performance Bond
~~ ~~~~~
and No. SU1013341
00710 FORM OF PERFORMANCE BOND
Metro Express, Inc. aS
BY THIS BOND, We
Arch Insurance Co~apany aS
Principal, hereinafter called CONTRACTOR, and
Surety, are bound to the C{TY of Miami Beach, Florida, as Obligee, hereinafter called
CITY, in the amount of an initial One Million Dollars ($1,000,000.00) HORIZONTAL. ROW
far the payment 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, ITB
No.: 36-06/07 ,awarded the_,~ day of , 20 .
with CITY which Contract Documents are by reference incorporated herein and made a
part hereof, and specifically include provision for liquidated damages, and other damages
identified, and far the purposes of this Bond are hereafter referred to as the "Contract";
THE CONDITION OF THIS BOND is that if CONTRACTOR:
1. Performs the Contract between CONTRACTOR and CITY for construction of Job
Order Contract ITB, 36-06/07 the Contract being made a
part of this Bond by reference, at the times and in the manner prescribed in the
Contract; and
2. Pays CITY all losses, liquidated damages, expenses, costs and attorneys fees
including appellate proceedings, that CITY sustains as a result of default by
CONTRACTOR under the Contract; and
3. Perfom~s the guarantee of all work and materials furnished under the Contract for
the time specified in the Contract; then THIS BOND IS VOID, OTHERWISE IT
REMAINS IN FULL FORCE AND EFFECT.
Whenever CONTRACTOR shall be, and declared by CITY to be, in default under
the Contract, CITY having performed CITY obligations thereunder, the Surety may
promptly remedy the default, or shall promptly:
3.1. Complete the Project in accordance with the terms and conditions of the
Contract Documents; or
3.2. Obtain a bid or bids for completing the Project in accordance 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 responsible Bidder,
arrange for a contract between such Bidder and CITY, and make available
as work progresses (even though there should be a default or a
succession of defaults under the Contract ar Contracts of completion
arranged under this paragraph) sufficient funds to pay the cost of
completion less the balance of the Contract Price; but not exceeding,
including other cos#s and damages for which the Surety may be liable
hereunder, the amount set forth in the first paragraph hereof. The term
"balance of the Contract Price," as used in this paragraph, shall mean the
total amount payabthereto I I ss the amount properly rpaid by tC1TY rto
any amendments ,
CONTRACTOR.
4. No right of action shall accrue on h fse pond to or for the use of any person or
corporation other than CITY named
5. The Surety hereby waives notice of and agrees that any changes in or under the
Contract Documents and compliance or noncompliance with any formalities
connected with the Contract or the changes does not affect Surety's obligation
under this Bond.
Signed and sealed this , day of ~ 2d---
WITNESSES:
(Secretary)
(CORPORATE SEAL)
Metro Express, Inc.
of Corporatio
By ~~
(Signature and Title)
pe NameFTitle Signed Above)
`~ day of ~L ~ , 20~_
INS CE ANY
Arc s ra mpa~
By '~
ent and ttomey-in-F^ act
ichael Bonet
2701 N. Rocky Point Drive, Ste. 980
(Address: Street)
Tampa, FL 33607
(City/State/Zip)
Telephone No.: 813-371-3314