HomeMy WebLinkAboutExhibit 9PERFORMANCE AND PAYMENT GUARANTY FORM
UNCONDITIONAL/IRREVOCABLE LETTER OF CREDIT: (Page 1 of 2)
Date of Issue
Issuing Bank's No,
Beneficiary: Applicant:
City of Miami
444 SW 2nd Avenue
Miami, Florida 33130
Amount:
We hereby authorize you to draw on•
in United States Funds
Expiry:
(Date)
Agreement I\T` ber
•
, Issuer name)
at by order
(branch address)'
of and for the account of
Kcontractor, applicant, customer)
up to an aggregate amount, in dnited„States Funds, of available by your drafts
at sight, accompanied by:
1. A signed statementlrom the City Manager or his authorized designee, that the drawing is due
to default in perforitiance of certain obligations on the part of
(Construction Manager, applicant, customer) agreed upon by and between the City of Miami,
Florida and (contractor, applicant, customer), pursuant to Bid/Contract No.
for (name of project) and Section 255.05, Florida Statutes.
Drafts must be drawn and negotiated not later than
(expiration date)
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PERFORMANCE AND PAYMENT GUARANTY FORM
UNCONDITIONAL/IRREVOCABLE LETTER OF CREDIT: (Page 2 of 2)
Drafts must bear the clause: "Drawn under Letter of Credit No. (Number), of
(Bank name) dated
This Letter of Credit shall be renewed for successive periods of one (1) year each unless we provide
the City of Miami with written notice of our intent to terminate the credit herein extended, which
notice must be provided at least thirty (30) days prior to the expiration date of the original term hereof
or any renewed one (1) year term. Notification to the City that this Letter of Credit will expire prior to
performance of the Construction Manager's obligations will be deemed a default.
This Letter of Credit sets forth in full the terms of our undertaking, and such undertaking shall not in
any way be modified, or amplified by reference to any documents, instrument, or agreement referred to
herein or to which this Letter of Credit is referred or this Letter of Credit relates, and any such
reference shall not be deemed to incorporate herein by reference° any document, instrument, or
agreement.
We hereby agree with the drawers, endorsers, and bona fide holderssof all drafts drawn under and in
compliance
•
drawee.
Obligations under this Letter of Credit shall be released one (1) year after the Final Completion of the
Project by the
'(oantractor applicant, customer)
This Credit is subject to the "Uniform C,usto s, and Practice for Documentary Credits," International
Chamber of Commerce (1993 revision), P:txblication No. 500 and to the provisions of Florida law. If a
conflict between the Uniform Custoi s and Practice for Documentary Credits and Florida law should
arise, Florida law shall preyaila ,.,If .a, conflict between the law of another state or country and Florida
law should arise, Florida.lgw shal1preVail.
Authorized Signature
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