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<br /> ������� � Bond No.62399709
<br /> . �K ,
<br /> SECTION OQ610
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> San Mateo County, State of California, has awarded to
<br /> Greentech Industry,inc. , hereinafter designated as the
<br /> "Principal", a Contract, the terms and provisions of which Contract are incorporated herein by
<br /> reference,for constructing the following project:
<br /> FAIR OAKS COMMUNITY CENTER HVAC REPLACEMENT PROJECT
<br /> and WHEREAS,said Principal is requi�ed under the terms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract;
<br /> NOW, THEREFORE, we, the Principal, and WESTERN SURETY COMPANY , as
<br /> surety, are held and firmly bound unto City, San Mateo County, Califomia, in the penal sum of
<br /> One hundred sixty-lwo thousand dollars and 00/100 DOIIafS ($162,000.00 ), lawful money
<br /> of the United States, being one hundred percent (100%) of the Contract amount, for the
<br /> payment of which sum well and truly to be made, we bind ourselves, our heirs, executors,
<br /> administrators and successors,jointly and severally,firmly by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shalt in all things stand to and abide
<br /> by, and will truly keep and faithfully perForm the covenants, conditions, and agreements in the
<br /> said Contract and any alterations made as therein provided, on his or their part, to be kept and
<br /> pertormed at the time and in the manner therein specified, and in all respects according to their
<br /> true intent and meaning, and shall indemnify and save harmless City, its Council,
<br /> Commissioners, boards, committees, o�cers, employees 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 condition precedent to the satisfactory completion of the said Contract, the above
<br /> obligation shall hold good for a period of one (1) year after the completion and acceptance of
<br /> the said work, during which time if the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make full, complete and satisfactory repair
<br /> and replacements or totally 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 from or caused by
<br /> defective materials or faulty workmanship, in the prosecution 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 stipulates and agrees to waive the provisions of
<br /> Califomia Civil Code Section 2819 regarding consent 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 /> Spec�cations accompanying the same shalt in any way 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 /> terms of the Contract, or to the work,or to the Specifications.
<br /> In the event City, or its successors or assigns, shall be the prevailing party in an action brought
<br /> upon this bond,then, in addition to the penal sum hereinabove specified, we agree to pay to the
<br /> FAITHFUL PERFORMANCE BOND 00610-1
<br /> FAIR OAKS COMMUNITY CENTER HVAC
<br /> REPLACEMENT PROJECT
<br />
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