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• <br /> • <br /> • <br /> • <br /> PAYMENT BOND <br /> ANNUAL BOND FOR A MULTI-YEAR CONTRACT <br /> Bond No.3342354, executed in 2 counterparts <br /> KNOW ALL MEN BY THESE PRESENTS,That we, Stockton Maintenance Group, Inc. <br /> 1975 Sansbury's Way, Ste. 116, West Palm Beachh 43421 fit► pa <br /> of ( ereaar called the Principal),and <br /> SureTec Insurance Company, 952 Echo Lane, Suite 450, Houston TX 77024 khereinafter called the Surety), <br /> are field and firmly bound unto City of Sunny Isles Beach <br /> (hereinafter called the 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 Prindpal and Surety bind themselves,their heirs, <br /> administrators,executors,successors and assigns,jointly and severally,firmly by these presents. <br /> WHEREAS,the above bonded Principal has entered into a certain written contract with the above mentioned <br /> Obligee dated August 15, 2008 to August 15, 2017 fora period of nine (9) years <br /> which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length <br /> herein. • <br /> WHEREAS, the Obligee has agreed to accept a bond guaranteeing the payment of said contract for a period <br /> of only one year. <br /> NOW, THEREFORE, THE CONDITION OF THE ABOVE OBLIGATION IS SUCH, that If Principal shall in <br /> accordance•with applicable Statues, promptly make payment to all persons supply labor and.material in the <br /> prosecution of the work provided for in said contract,and any and all duly authorized modifications of said contract <br /> that may hereafter be made, notice of which modifications to Surety being waived,then this obligation to be void; <br /> otherwise to remain M full farce and effect <br /> Provided,however,that this bond is subject to the following conditions and provisions: <br /> 1. This bond is for the term beginning August 14, 2011 and ending August 14, 2012 <br /> 2. No claim, action, suit or proceeding. except as hereinafter set forth; shall be had or maintained against <br /> the Surety on this instrument unless same be brought or instituted and process served upon the Surety <br /> within six months after the completion of the contract. <br /> 3. The total amount of the Surety's liability under this bond shall in no event exceed the penal sum hereof. <br /> 4. The bond may be extended for additional terms at the option of the Surety, by continuation certificate <br /> executed by the Surety. <br /> Signed and seated this . 1st rlav of July ' 2011 . <br /> • <br /> • <br /> Stockton Maint- e Grow nc. SureTec Insurance Company <br /> I �f <br /> v• 1� "— By, `i. <br /> Douglas S. r/Ccian, • esiden esiden . Patricia L. Slaughter:-Atto yin Fact <br /> • <br /> &'FL Licensed Resident Agent(407) 786-7770 <br /> Farts F6362 <br /> • <br /> • <br />