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, � � Bond No; 0655020
<br /> Premium: �24,449.00
<br /> SECTIDN 00690
<br /> FAITHFUL PERFORMANCE BOND
<br /> ,
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City ("City"),
<br /> San Mateo Caunty, State of Caii#ornia, has awarded to_ Casey Construction, Inc. ,
<br /> hereinafter designated as the "Principal", a Contract, the terms and provisions of which Contract
<br /> are in�orporated herein by reference, for constructing the fallowing project:
<br /> 2014-2015 SAId1TARY SEWER REPI.A�CEMENT PROJECT
<br /> and
<br /> V9IHEREAS, said Principa! is required under the terms of said Contract to furnish a bond for the
<br /> faithful pertormance o#said Contrac#;
<br /> International Fidelity Insurance
<br /> NQW, THEREF�RE, we, the Principaf, and Company , as surety, are hefd
<br /> and frmfy bound unta City, San Matea County, California, in the penal sum of
<br /> Two Million Ninety-Four Thousand Nine Hundred Forty-Six and No/100 Dollars
<br /> ($2,094,946.00 ), {awful mt�ney of the United States, being one hundred percent
<br /> (1QQ%) of the Contract amount, for the payment of which sum well and truly to be made, we
<br /> bind ourseives, our heirs, executors, administrators and successors,join#iy and severally, frrmly
<br /> by these presents.
<br /> THE CONDtTION OF THlS OBLlGATION IS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executocs, administrators, successors or assigns, shall in all things stand to and abide
<br /> by, and will truly keep and faithtully perform #he covenants, conditions, and agreements in the
<br /> said Confract and any alteratians made as therein provided, on his or their part, to be kept and
<br /> perFormed at the time and in the manner therein specified, and in all respects according to their
<br /> true intent and meaning, and shap indemnify and save harmless City, its Council,
<br /> Cammissioners, boards, committees, officers, empioyees and agents, as therein stipulated,
<br /> then this obligation shall be null and void; otherwise it shall be and remain in full force and
<br /> virtue.
<br /> As a conditian precedent to tfie satisfactory completion of the said Contraet, the above
<br /> obligation shatl hotd good for a period of one (1) year after the completion and acceptance of
<br /> the said work, cluring which time if the above baunden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make full, complete and satisfactory repair
<br /> and replacements or totalty protect the said City from loss or damage made evident during said
<br /> period of one (1) year from the date of acceptance of said work, and resulting fram or caused by
<br /> deiective materials ar faulty workmanship, in the prosecu#ion of the work done, the above
<br /> obligation shall be and remain in full force and virtue.
<br /> And the said Surety, for value received, hereby stipuiates and agrees to waive the provisions of
<br /> Caiifomia CiviE Cade Section 2819 regarding cansent to change, extension of time, alteration, or
<br /> addition to the terms of the Contract or to the work to be perFormed thereunder, or the
<br /> Specifications accompanying the same shai[ in any way affect its abligations on this band; and it
<br /> FAITHFUL PERFORMANCE BOND Op&10-1
<br /> 2Q14-2Q15 SAMTARY SEWER REPLACEMENT PROJECT
<br />
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