Exhibit 7 Payment BondExhibit 7
Payment Bond
Bond ~~013019160
00720 FORM OF PAYMENT BOND
BY THIS BOND, We RIC-MAN INTERNATIONAL, INC. , as Principal, hereinafter
called CONTRACTOR, and LIBERTY MUTUAL INSURANCE COMPANY as Surety,
are bound to the CITY of Miami Beach, Florida, as Obligee, hereinafter called CITY, in
the amount of an initial One Million Dollars ($1,000,000) for HORIZONTAL ROW
Contracts for 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,
Bid/Contract No.: 36-06/07 HORIZONTAL ROW ,awarded the 5T" day of
September, 2007, 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 for the purposes of this Bond are hereafter referred to
as the "Contract";
THE CONDITION OF THIS BOND is that if CONTRACTOR:
1. Pays CITY all losses, liquidated damages, expenses, costs and attorneys fees
including appellate proceedings, that CITY sustains because of default by
CONTRACTOR under the Contract; and
2. Promptly makes payments to all claimants as defined by Florida Statute 255.05(1)
for all labor, materials and supplies used directly or indirectly by CONTRACTOR in
the performance of the Contract;
THEN CONTRACTOR'S OBLIGATION SHALL BE VOID; OTHERWISE, IT SHALL
REMAIN IN FULL FORCE AND EFFECT SUBJECT, HOWEVER, TO THE FOLLOWING
CONDITIONS:
2.1. A claimant, except a laborer, who is not in privity with CONTRACTOR and
who has not received payment for its labor, materials, or supplies shall,
within forty-five (45) days after beginning to furnish labor, materials, or
supplies for the prosecution of the work, furnish to CONTRACTOR a
notice that he intends to look to the bond for protection.
2.2. A claimant who is not in privity with CONTRACTOR and who has not
received payment for its labor, materials, or supplies shall, within ninety
(90) days after performance of the labor or after complete delivery of the
materials or supplies, deliver to CONTRACTOR and to the Surety, written
notice of the performance of the labor or delivery of the materials or
supplies and of the nonpayment.
2.3. No action for the labor, materials, or supplies may be instituted against
CONTRACTOR or the Surety unless the notices stated under the
preceding conditions (2.1) and (2.2) have been given.
2.4. Any action under this Bond must be instituted in accordance with the
Notice and Time Limitations provisions prescribed in Section 255.05(2),
Florida Statutes.
3. The. initial bond term will run for a period of 12 months from the
original contract date. If needed, anew bond will be issued for a
subsequent 12 month term.
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 the Surety's obligation under this Bond.
Signed and sealed this 2"d day of October, 2007
WITNESSES:
RIC-MAN INTERNATIONAL, INC,
Name rporation)
By
(Signature and Title)
David A. Mancini/President
(Type Name/Title Signed Above)
LIBERTY MUTUAL
IN THE PRESENCE OF: INSU CE COMPANY
By
gent and Attorney-in-Fact
2150 Butterfield Dr., Suite 1,00
(Address: Street)
Troy, Michigan 48084
(City/State/Zip) ~;
Telephone No.: 248-643-7475
(C;UKF'UKA ~ E SEAL)
THIS POWER OF ATTORNEY IS NOT VALID UNLESS IT IS PRINTED ON RED BACKGROUND. ~ ~ ~~~
This Power of Attorney limits the acts of those named herein, and they have no authority to bind the Company except in the manner and to
the extent herein stated.
LIBERTY MUTUAL INSURANCE COMPANY
BOSTON, MASSACHUSETTS
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS: That Liberty Mutual Insurance Company (the "Company"), a Massachusetts stock insurance
company, pursuant to and by authority of the By-law and Authorization hereinafter set forth, does hereby name, constitute and appoint
KAREN C. BRODE, DAVID fl. FISCHER, BRENDA ANHUNT, ALL OF THE CITY OF TROY; STATE OF MICHIGAN ............
,each individually if there be more than one named, its true and lawful attorney-in-fact to make, execute, seal, acknowledge and deliver, for and on its
behalf as surety and as its act and deed, an~r and ail undertakings, bonds, recognizances and other surety obligations in the penal sum not exceeding
TWENTY FIVE MILLION AND .00/1.00** *}*`********"***' DOLLARS ~$ 25,000;000.00***** )each, and the
execution of such undertakings, bonds; recognizances and: other surety obligations, in pursuance of hese presents.; shall be as binding upon the
Company as if they had been duly signed by the president and attested by the secretary of the Company in their own proper persons.
That this power is made and executed pursuant to and by autho>'i#y of the following By-law and Authorization:
ARTICLE XIII -Execution of Contracts: Section 5. Surety Bonds and Undertakings.
Any officer of the Company authorized for that purpose in writing by the chairman or the president, and subject to such limitations as the
chairman or the president may prescribe, shall appoint such attorneys-in-fact, as may be necessary to act in behalf of the Company to make, ~
execute, seal, acknowledge and deliver as surety any and all undertakings, bonds, recognizances and other surety obligations. Such 'a
attorneys-in-fact, subject to the limitations set forth in their respective powers of attorney, shall have full power to bind the Company by their N
p signature and execution of any such instruments and to attach thereto the seal of the Company. When so executed such instruments shall be
Q- as binding as if signed by the president and attested by the secretary.
N N
3
By the following instrument the chairman or the president has authorized the officer or other official named therein to appoint attorneys-in-fact: ~
~ C Pursuant to Article XIII, Section 5 of the By-Laws, Gamet W. Elliott, Assistant Secretary of Liberty Mutual Insurance Company, is hereby ~
.: ti authorized to appoint such attorneys-in-fact as may be necessary to act in behalf of the Company to make, execute, seal, acknowledge and ~
3 deliver as surety any and all undertakings, bonds, recognizances and other surety obligations. ~ C
L ~ C~ N_..
3 That the By-law and the Authorization set forth above are true copies thereof and are now in full force and effect. C W
O- E.
~ j IN WITNESS WHEREOF, this Power of Attorney has been subscribed by an authorized officer or official of the Company and the corporate seal of ~ Q.
~ - Liberty Mutual Insurance Company has been affixed thereto in Plymouth Meeting, Pennsylvania this 20th day of August Q,o
~ ~ 2007 M
-~ o~
O L LIBERTY MUTUAL INSURANCE COMPANY ~ ~
3~.
Q
~ ~ BYI~ -" ~ l./_ S~fi4~ O ~
C ~ ,, Garnet W. Elliott, Assistant Secretary ~ O
" ` COMMONWEALTH OF PENNSYLVANIA ss +~~+ i
~ ~
~ COUNTY OF MONTGOMERY p
r *~ On this 02 th day of August 2007 ,before me, a Notary Public, personally came Garnet W. Elliott, to me known, and acknowledged ;~
G ~ that he is an Assistant Secretary of liberty Mutual Insurance Company; that he knows the seal of said corporation; and that he executed the above .a.
~ ai Power of Attorney and affixed the corporate seal of Liberty Mutual Insurance Company thereto with the authority and at the direction of said corporation. ~ ~
~ ~"' -
.a A IN TESTIMONY WH~[~~e>i'~a unto subscribed my name and affixed my notarial seal at Plymouth Meeting, Pennsylvania, on the day and year
v first above written ~ `~. ~~~~'~~ "~, t° ~ ao
is C ~ x t` ,~~ ", : ~ ~anasc n ;~~a ~a ~r c r ~,';~:.4~~rut~ ~
> ~ ~,.. ,~ ~ > ~w9<ae ~1 .ate - __."`" I /~'~ ~~<Z~LC~.!~-~c/ r- E'~3
w L N ~/ ~
q~ ~~~ ,
Z ~ ~ '~~' ~' ~'` `~~ ~~~ ~ Ter~Pastella, Notary Publie v
~ ~
_,'°.~ ~'~~~ °'~ 9,a>~r~.Aa, .aft. ~r,ml >.., ~<,, cc t~~~r:~~ pr
CERTIFICATE ~~~ ~~, ~~~~~
I, the undersigned, Assistan ec etary of Liberty Mutual Insurance Company; do hereby Certify thatthe Qriginal power of attorney of which the foregoing
is a full, true and correct copy, is in full force and effect on the date of this certificate; and Cdo further certify that the officer or official who executed the
said power of attorney is an Assistant Secretary specially authorized by the chairman or the president to appoint- attorneys-in-fact as provided in Article
XIII, Section 5 of the By-laws of Liberty Mutual Insurance Company.
This certificate and the above power of attorney may be signed by facsimile or mechanically reproduced signatures under and by authority of the
following vote of the board of directors of Liberty Mutual Insurance Company at a meeting duly called and held on the 12th day of March, 1980.
VOTED that the facsimile or mechanically reproduced signature of any assistant secretary of the company, wherever appearing upon a
certified copy of any power of attorney issued by the company in connection with surety bonds, shall be valid and binding upon the cornp~ny
with the same force and effect as though manually affixed.
1 REO~F ~y~~hereunto subscribed my name and affixed the corporate seal of the said company, this ~ day of
,CX~L
~'
By
Davitl M. Carey, Ass'. t Secretary