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PAYMENT BOND ANNUAL BOND FOR A MULTI -YEAR CONTRACT Bond No. 3342354, executed in 2 counterparts KNOW ALL MEN BY THESE PRESENTS, That we, Stockton Maintenance Group, Inc. of 1975 Sansbury' s way, Ste. 116, West Palm Beach(herelnaftArcalled the Prinelpal), and SureTec Insurance Company, 952 Echo Lane, Suite 450, Houston TX 77024 khereinafter called the Surety), are held and firmly bound unto City of Sunny Isles Beach (hereinafter called the Obligee), in the full and just sum of One Hundred Eighteen Thousand Thirty Six and 921100 ----------------------- Dollars($ 118.036.92 ), to the payment of which sum, well and truly to be made, the said Principal and Surety bind themselves, their heirs, administrators, executors, successors and assigns, Jointly and severally, fin-n)y by these presents. WHEREAS, the above bonded Principal has entered Into a cartain written contract with the above mentioned Obiigeedated August 15, 2008 to August 15, 2017 fora period of nine (9) years which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length herein. WHEREAS, the Obligee has agreed to accept a bond guaranteeing the payment of said contract for a period of only one year. NOW, THEREFORE, THE CONDITiON OF THE ABOVE OBLIGATION i8 SUCH, that If Principal shall In accordance -with applicable Statues, promptly make payment to all persons supply labor and.material in the prosecution of the work provided for in said contract, and any and all duly authorized modifications of said contract that may hereafter be made, notice of which modifications to Surety being waived, then this obligation to be void; otherwise to remain in fug force and effect Provided, however, that this bond is subject to the following conditions and provisions: 1, This bond Is for the term beginning August 14, 2011 and ending August 14, 2012 2. No claim, action, suit or proceeding, except as hereinafter set forth; shall be had or maintained against the Surety on this instrument unless same be brought or Instituted and process served upon the Surety within six months after the completion of the contract. 3. The total amount of the Surety's liability under this bond shall in no event exceed the penal sum hereof. 4. The bond may be extended for additional terms at the option of the Surety, by continuation certificate executed by the Surety. Signed and sealed this 1st day of July , 2011 Stocktur maint1peme Gro Inc. Douglas S. dan, esiden Form "2 SureTec Insurance Company By: . t6 Patricia L. Slaughter - Atto y in Fact & FL Licensed Resident Agent (407) 786 -7770