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PERFORMANCE BOND <br />Form to be Uaed when Bonding Only One Year <br />of a Multi -Year Contract <br />(Page t of 2) <br />Effective Date: _August 14, 2011 <br />Bond No 3342354, executed in 2 counterparts <br />KNOW ALL MEN BY THESE PRESENTS: That, Stockton Maintenance Group, Inc. <br />1975 Sansbury's Way, Suite 116, West Palm Beach, FL 33411 <br />(hereinafter called Principal) as Principal, and SureTec Insurance Company <br />952 Echo Lane, Suite 450, Houston TX 77024 <br />a corporation duly organized under the laws of the State <br />and duly authorized and licensed to do business in the State <br />Of Texas <br />Of Florida <br />(hereinafter called Surety), as Surety, are held and firmly bound unto City of Sunny Isles Beach <br />18070 Collins Avenue, Sunny Isles Beach, FL 33160 <br />(hereinafter called the Obligee), as Obligee, in the full and just sum of One Hundred Eighteen Thousand <br />Thirty Six and 92/100 ---- ---- -- — -- --- Dollars ($ 118,036.92 ), <br />to the payment of which sum, well and truly to be made, the said Principal and Surety bind themselves, their and <br />each of their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these <br />presents. <br />WHEREAS, the above bounden Principal has entered into a certain written contract with the above mentioned <br />Obligee dated August 15, 2008 <br />Maintenance Services Agreement <br />for City of Sunny Isles Beach <br />for a period of nine (9) years which contract is hereby referred to and made a part hereof as fully and <br />to the same extent as if copied at length herein, and <br />WHEREAS, the Obligee has agreed to accept a bond guaranteeing the performance of said contract for a <br />period of only one year. <br />NOW, THEREFORE, if Principal shall faithfully perform such contract or shall indemnify and save harmless <br />the Obligee from all cost and damage by reason of Principal's failure so to do, then this obligation shall be null and <br />void; otherwise it shall remain in full force and effect. <br />Form F5312 <br />I <br />