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PUBLIC CONSTRUCTION BOND Bond No. FLC 82923 (enter bond number) BY THIS BOND, We Paragon Electric of Vero, Inc. , as Principal and Merchants Bonding Cornpany (Mutual) a corporation, as Surety, are bound to Indian River County , herein called Owner, in the sum of $958,434.00, for payment of which we bind ourselves, our heirs, personal representatives, successors, and assigns, jointly and severally. THE CONDITION OF THIS BOND is that if Principal: 1. Performs the contract dated March 1 , 2022 , between Principal and Owner for construction of North County RO SCADA Improvements , the contract being made a part of this bond by reference, at the times and in the manner prescribed in the contract; and 2. Promptly makes payments to all claimants, as defined in Section 255.05(1), Florida Statutes, supplying Principal with labor, materials, or supplies, used directly or indirectly by Principal in the prosecution of the work provided for in the contract; and 3. Pays Owner all losses, damages, expenses, costs, and attorney's fees, including appellate proceedings, that Owner sustains because of a default by Principal under the contract; and 4. Performs the guarantee of all work and materials furnished under the contract for the time specified in the contract, then this bond is void; otherwise it remains in full force. Any action instituted by a claimant under this bond for payment must be in accordance with the notice and time limitation provisions in Section 255.05(2), Florida Statutes. Any changes in or under the contract documents and compliance or noncompliance with any formalities connected with the contract or the changes does not affect Surety's obligation under this bond. DATED ON March 7, 2022 S (Name of Principal) Thomas cranims B y a (As Aftorney in Fact) Timothy Fields Merchants Bonding Company (Mutual) (Name of Surety)