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<br />- ! <br /> <br />PERFORMANCE BOND <br /> <br />Form to be Used When Bonding Only One Year <br />of a Multi-Year Contract <br />(Page 1 of 2) <br /> <br />Effective Date: August 15,2008 <br /> <br />Bond No. 70558073 <br /> <br />KNOW ALL MEN BY THESE PRESENTS: That, Stockton Maintenance Group, Inc. <br /> <br />1975 Sansbury's Way, Suite 116, West Palm Beach, FL 33411 <br /> <br />(hereinafter called Principal) as Principal, and Western Surety Company <br /> <br />P.O. Box 5077, Sioux Falls, SO 57117-5077 <br /> <br />a corporation duly organized under the laws of the State <br /> <br />of South Dakota <br /> <br />and duly authorized and licensed to do business in the State <br /> <br />of Florida <br /> <br />(hereinafter called Surety), as Surety, are held and firmly bound unto City of Sunny Isles Beach <br /> <br />18070 Collins Avenue, Sunny Isles Beach, FL 33160 <br /> <br />(hereinafter called the Obligee), as Obligee, in the full and just sum of One Hundred Eighteen Thousand <br /> <br />Thirty Six and 92/1 00 --------------------------------------------------------------------------- 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 /> <br />WHEREAS, the above bounden Principal has entered into a certain written contract with the above mentioned <br /> <br />Obligee dated August 15, 2008 <br /> <br />for City of Sunny Isles Beach <br /> <br />Landscape Maintenance Services Agreement <br /> <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 /> <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 /> <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 /> <br />Form F6612 <br />