AGREEMENT between BROWARD COUNTY and Cummings ...

Exhibit 2
Page 370 of 379
FORM 5 FORM OF PAYMENT BOND
Project Name: «T-4 Gate Replacement - Western Expansion »
Project Number: 3300
KNOW ALL MEN BY THESE PRESENTS:
That 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 for ______________________ in accordance with the Contract
Documents prepared by _____________________________ which Contract Documents are by
reference made a part hereof, 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 COUNTY all losses, damages, expenses, costs and attorneys fees including
appellate proceedings, that COUNTY sustains because of default by CONTRACTOR
under the Agreement; and
2. Promptly makes payments to all claimants as defined by Florida Statute 225.05(1) for all
labor, materials and supplies used directly or indirectly by CONTRACTOR in the
performance of the Agreement;
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) calendar days after beginning to furnish labor, materials, or
Alternate Form of Security
CM @ Risk Agreement R0787918R1 040110 Page of 1 of 3