3.0_Walton_County_Florida_Bid_Bond_V1_(14).pdf

FLORIDA BID BOND

BOND NO. ____________________

AMOUNT: $___________________

KNOW ALL MEN BY THESE PRESENTS, that _____________________________, hereinafter referred to as the "Principal", and ___________________________________, a corporation duly organized under the laws of the State of Florida having its principal place of business at _________________________________________ in the State of _______________ and authorized to do business in the State of Florida, as Surety, are held and firmly bound unto Walton County, Florida, a political subdivision of the State of Florida, hereinafter referred to as the "Obligee", in the full and just sum of 5% of the Contract Price, as lawful money of the United States of America, the payment of which we bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents.

CONDITION OF THIS BOND:

WHEREAS, the Principal contemplates submitting or has submitted a bid to the Board of County Commissioners, Walton County, Florida for the furnishing of all labor, materials (except those specified to be furnished by the County), equipment, machinery, tools, apparatus, means of transportation for, and the performance of the work covered in the Invitation to Bid No. ___________________.

WHEREAS, it was a condition precedent to the submission of said bid that a cashier's check, certified check, or bid bond in the amount of 5% of the Contract Price be submitted with said bid as a guarantee that the Bidder would, if awarded the Contract, enter into a written Contract with the County for the performance of said Contract, within TEN (10) consecutive calendar days after written notice is given of the award of the Contract.

NOW, THEREFORE, the conditions of this obligation are such that if the Principal, within TEN (10) consecutive calendar days after written notice of such acceptance, enters into a written Contract with the Board of County Commissioners, Walton County, Florida and furnishes the Performance and Payment Bonds, each in an amount equal to 100% of the bid selected by the County, satisfactory to the County, then this obligation shall be void;

otherwise the sum herein stated shall be due and payable to the Board of County Commissioners, Walton County, Florida and the Surety herein agrees to pay said immediately upon demand to the County in good and lawful money of the United States of America, as liquidated damages, and not a penalty, for failure thereof of said Principal.

Should litigation be necessary to enforce any term or provision of this Bid Bond or to collect any portion of the amount payable under this Bid Bond, then all litigation and collection expenses, witness fees, court costs and attorney's fees shall be paid to the prevailing party.

Signed and sealed this _______________.

SURETY

BY: ____________________________

ATTORNEY-IN-FACT

PRINCIPAL

BY: ____________________________

TYPED NAME & TITLE TYPED NAME & TITLE