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PERFORMANCE BOND <br /> Form to be Used When Bonding Only One Year <br /> of a Multi-Year Contract <br /> (Page 1 of 2) <br /> Effective Date: August 14, 2011 Bond No 34235.4, 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 of Texas <br /> and duly authorized and licensed to do business in the State _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 for,City of Sunny Isles Beach <br /> Maintenance Services Agreement <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 extant 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 F6612 <br />