Agmt14 Granite Rock Co - Hoover Safe Routes to School

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Bond#: 929592033 Premium : included in perf bond PAYMENT BOND KNOW ALL MEN BY 7HESE PRESENTS:That we, Granite Rock Company as Principal, and, weste�n Suretv Companv organized and existing under the laws of the State of ��fi�4 South�akota , and authorized to execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all persons named in California Civil Code Section 3181 whose claim has not been paid by the Contractor, company or corporation in the aggregate total of Four Hundred Forty One Thousand Three Hundred Seventy Dollars ($ 441.370.00 ) (being 100°!0 of the Contract amount) for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and severaily,firmly by these presents. THE C�NDITION OF THE FOREGOtNG OBLIGATION IS SUCH that, whereas the above with the City of Ftedwood City("City")to do the following work, to-wit: HOOVER SAFE ROUTES TO SCHOOL PROJECT NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any af the persons named in Section 3181 of the Civil Code of the State of California, or amounts due under the Unemployment Insurance Code with respect to work or labor performed under the Contract, or for any amounts required to be deducted, withheld, and paid aver to the Employment Development Department from the wages of ernployees of the Contractor and his subcontractor pursuant to Section 13020 of tne Unemployment Insurance Gode of the State of Califomia, with respect to such work and labor, the surety will pay for the same, in the amount not sxceeding the sum specified in this bond, and also, in case suit is brought upan this bond, a reasonable attorney's fee, to be fixed by the Court. This bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the State of California so as to give a right of action to them or their assignees in suit brought upon this bond. This bond is executed and filed to comply with the provisions of the act of the Legislature of the State of California as designated in Civil Code Sections 3247-3252, lnclusive, and all amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of California Civil Code Sect'ton 2819 regarding consent to change, extension of time alteration, or addition to the terms of the Contract, or to the work to be performed thereunder, or the Specifications accompanying the sarne, shall in any way affect its obligations on this bond; and it does hereby waive notice of any such change, extension of time, alteration, or addition to the terms of the Contract,or to the wark, or to the Specifications. HOOVER SAFE ROUTES TO SCHOOL PROJECT