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BID BOND STATE OF Florida SS: COUNTY OF Miami-Dade KNOW ALL MEN BY THESE PRESENTS, that we, Hypower, Inc. , as principal, and Berkley Insurance Company , as Surety, are held and firmly bound unto the City of Sunny Isles Beach, (hereinafter called `the City'), a municipal corporation of the State of Florida in the penal sum of Five Percent of Amount Bid -5% • Dollars(5 5% ),lawful money of the United States,for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators and successors jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH that whereas the principal has submitted the accompanying bid, dated January 7 , 20 16 . For: Collins Avenue Utility Undergrounding - 15-12-02 NOW, THEREFORE, (a) if said bid shall be rejected, or (b) if said bid shall be accepted and the Principal shall property execute and deliver to said City the appropriate Contract Documents, and shall in all respects fulfill all terms and conditions attributable to the acceptance of said bid, Then this obligation shall be void. Otherwise, it shall remain in force and in effect, being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall in no event exceed the amount of this obligation as herein stated. The Surety,for value received, hereby agrees that the obligations of said Surety and/or its bond shall in no way be impaired or affected by any extension of time within which the City may accept such bid; and said Surety does hereby waive notice of any extension. IN WITNESS HEREOF,the above bonded parties have executed this instrument under their several seals this 7th day of January , 2016 , the name and the corporate seal of each corporate party being hereto affixed and these presents being duly signed by its undersigned representative. 00300- 15/26