35-Payment Bond.pdf

Payment Bond PYB - 1

(REV. 07/02/25)

BOND NO._

PAYMENT BOND

Contractor Name

Contractor Principal Business Address

Contractor Telephone No. ( )

Surety Name

Surety Principal Business Address

Surety Telephone No. ( )

Owner of Property Being Improved:

Hillsborough County Board of County Commissioners Attn: Procurement Services Department P.O. Box 1110 Tampa, FL 33601

Telephone No. (813) 272 – 5790

Contracting Public Entity (if different from Owner) (N/A) Contract Number Assigned by Public Entity (BOCC No.)

(Bid No.) IFB-26-00287

Description of Project (including if applicable, a legal description and the street address of the property being improved and a general description of the improvement):

[ ] See Attachment ("Legal Description")

This project consists of the installation of a new traffic signal with two mast arm structures in the northwest, and southeast quadrants of the intersection with interconnect along the CR 584 (Waters Ave) corridor. Roadway modifications include widening and resurfacing for improved truck operations.

Sidewalk and curb ramp reconstruction for improving pedestrian safety and mobility. Drainage improvements to enhance safety and operations and eliminate ponding. The intersection improvement will also include Median closure west of the intersection in front of the Sweetwater Business Center, and incidental work at CR 584 (Water Ave) at Fla. Mining Blvd. Intersection in Hillsborough County, FL.

Payment Bond PYB - 2

BOND NO. _____________________

PAYMENT BOND

I. BY THIS BOND, We, (hereinafter called the "Principal") and (Name of Surety) (hereinafter called the "Surety", located at (Business Address) a surety insurer chartered and existing under the laws of the State of and authorized to do business in the State of Florida, are held and firmly bound unto the BOARD OF COUNTY COMMISSIONERS OF HILLSBOROUGH COUNTY, FLORIDA (hereinafter called the "Owner") in the sum of ($ ) for payment of which we bind ourselves, our heirs, our personal representatives, our successors, and our assignees jointly and severally.

II. WHEREAS, the Principal and Owner have reached a mutual agreement (hereinafter referred to as the "Contract") as of (the bid award date for projects subject thereto) for the purpose of IFB-26- 00287, CR 584 (Waters Ave) at Florida Mining Blvd Intersection Improvements said Contract being made a part of this Bond by this reference.

III. A. NOW THEREFORE, THE CONDITION OF THIS BOND IS THAT IF THE PRINCIPAL:

1. Shall promptly make payments to all claimants as defined in section 255.05(1), Florida Statutes, supplying the Principal with labor, materials, or supplies, as used directly or indirectly by the Principal in the prosecution of the work provided for in the Contract; and

2. Shall pay the Owner for all losses, damages, expenses, costs, and attorney's fees, including those resulting from appellate proceedings, that the Owner sustains because of a default by the Principal in contravention to the Contract in regard to payment for such labor, materials, or supplies furnished to the Principal; then this Bond is void; otherwise, this Bond remains in full force and effect.

B. BE IT FURTHER KNOWN:

1. Any changes in or under the Contract and compliance or noncompliance with any formalities connected with the said Contract or alterations which may be made in the terms of the said Contract, or in the work to be done under it, or the giving by the Owner of any extension of time for the performance of the said Contract, or any other forbearance on the part of the Owner or Principal to the other, shall not in any way release the Principal and the Surety, or either or any of them, their heirs, their personal representatives, their successors or their assigns from liability hereunder, notice to the Surety of any such changes, alterations, extensions or forbearance being hereby waived.

2. Certain claimants seeking the protection of this Bond must timely comply with the strict requirements set forth in section 255.05, Florida Statutes, and as otherwise provided by law.

3. As concerns payment for labor, materials and supplies, as affects certain claimants, no legal action shall be instituted against the Principal or Surety on this Bond after one (1) year from the performance of labor or the completion of delivery of the materials or supplies as is specifically mandated pursuant to section 255.05, Florida Statutes.

Payment Bond PYB - 3

THIS BOND DATED THIS day of , 20 .

ATTEST: PRINCIPAL:

Printed Name

BY: (SEAL)

Witness Authorized Signature (Principal)

Witness Printed Name

Title of Person Signing Above

-OR-

Witness As Attorney in Fact (Attach Power)

Business Address

Business Telephone

STATE OF _______________________)

COUNTY OF ______________________)

The foregoing instrument was acknowledged before me by means of physical presence or online notarization this day of , 20 , by ________________________________________ as (Name of person)

________________________________ for _______________________________________________________.

(ie. Officer, attorney in fact) (Name of party on behalf of whom instrument was executed.)

(Signature of Notary Public)

(Print, Type, or Stamp Name of Notary Public)

Personally Known ___ OR Produced Identification ___

Type of Identification Produced ______________________

Payment Bond PYB - 4

ATTEST SURETY:

Printed Name

Business Address

Witness Authorized Signature

-OR-

Witness As Attorney in Fact (Attach Power)

Agent's License No.

COUNTERSIGNED (if applicable) Agency Name

Signed Agency Mailing Address Agent's License No. Phone ( ) Agency Telephone Number

Agency Fax No.

STATE OF _______________________)

COUNTY OF ______________________)

The foregoing instrument was acknowledged before me by means of physical presence or online notarization this day of , 20 , by ________________________________________ as (Name of person)

________________________________ for _______________________________________________________.

(ie. Officer, attorney in fact) (Name of party on behalf of whom instrument was executed.)

(Signature of Notary Public)

Personally Known ___ OR Produced Identification ___ (Print, Type, or Stamp Name of Notary Public)

Type of Identification Produced ______________________