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Exhibit N
Exhibit N
00710. FORM OF PERFORMANCE BOND
BY THIS BOND, We _______________________________________, as Principal,
hereinafter called Contractor, and _______________________________, as Surety, are bound
to the Board of County Commissioners of Broward County, Florida, as Obligee, hereinafter
called County, in the amount of ____________________________ Dollars ($__________) 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.: _____________, awarded the _______ day of __________________, 20____, with
County 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) Performs the Contract between Contractor and County for construction of
_______________________________________________, 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 County all losses, liquidated damages, expenses, costs and attorney’s fees
including appellate proceedings, that County sustains as a result of default by Contractor
under the Contract; and
3) Performs 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 County to be, in default under the
Contract, County having performed County obligations thereunder, the Surety may
promptly remedy the default, or shall promptly:
Exhibit 3
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