|
BOND NO . DAACSU0656194
<br /> 3t ti(AA3A H B
<br /> FORM OF FAITHFUL PERFORMANCE BONN
<br /> (Su8wvISION)
<br /> KNOW ALL MEN BY THESE PRESENTS: the City of Redwood City .CCity"), County of San
<br /> Matee; State Of California, and RWC Harbor Ceimrntm!ties, LLC, (hereinafter designated as
<br /> "Principal") . have entered it a Subdivision improvement Agreement dated
<br /> 2015 ("Agreement"), the terms and conditions of which are incorporated herein by reference,
<br /> whereby Principal agrees to install and complete certain designated public improvements for the
<br /> following project;
<br /> BC4! HARBOR
<br /> INHER AS, Said Principal is required under the terms of said Agreement to furnish a bond far
<br /> the:faithful performance of sold Agreement;.
<br /> NOW, THERFFQRF., we, the Principal,. and Allegheny Casualty Company
<br /> organized and existing under the laws of the State of PA and, authorized to execute
<br /> bonds: and undertaking as sole surety in the State of California, as Surety, are field and firmly
<br /> bound unto the City of Redwood City, County of San .Mateo, State of California,. in the penal
<br /> sum. of Eight Million Seven Hundred Sixty* dollars ($8 , 760, 611 . 00 ) lawful
<br /> Money of the United States, for the payment of winch sum well and truly to be made, we bind
<br /> ourselves, our heirs; successors, executors and administrators,. Jointly and severally, firmly by
<br /> these presents. *Thousand Six Hundred Eleven and 00 /1.00 Dollars . .
<br /> This bond is executed and filed to comply with the provisions of the act of the Legislature of the
<br /> State of California as designated in Government. Code Sections 66499 and 664994 and all
<br /> amendments thereto:
<br /> THE. CONRITIQN OF THIS OBLIGATION IS. SUCH that if the- above bounden. Principal, his or
<br /> its heirs, executors, administrators,, successors or assigns, shall In all things stand to and abide
<br /> by, and well and truly keep and faithfully perform the covenants, conditions and provisions in the
<br /> said Agreement and any alteration thereof made as:therein provicled, on his or their part, to he
<br /> kept and performed at the time and In the manner therein specified, and in all respects
<br /> according to their true Intent and meaning, and shall indemnify end save harmless City, Its
<br /> Council, Commissioners, boards, committees,. officers, agents and employees , as therein
<br /> stipulated, then this obligationshall become null and void; otherwise it shall be and remain In full
<br /> force and effect.
<br /> Asa part of the obligation secured hereby and in addition ton the face arriount specified therefor;
<br /> there shall be. included there shall be included casts and reasonable expenses and fees,
<br /> including treasonable attorney's fees, incurred by City in successfully enforcing such obligation,
<br /> all to be taxed as costs and included in any judgment rendered:
<br /> The Surety hereby stipulates and agrees that no change, extension of time, alteration or
<br /> addition to the terms of the Agreement or to the work to be performed thereunder or the
<br /> specifications accompanying the same shall in anywise affect Its obligations on this bond, and it
<br /> does hereby waive notice of any such change; extension of time, alteration or addition to the.
<br /> termsof the agreement or to the work or to the specifications ,
<br /> REV: 0&04.15 Vn
<br /> page150r'zo
<br /> ATTY/AGR.2015.115/81u Iiarhor
<br />
|