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Premium: $13,475.00 Bond No: 0655053
<br /> FAITHFUL PERFORMANCE B4ND
<br /> KNOVMI ALL M'EN BY THESE PRES�NTS: #hat, WHEREAS, the City of Redwoad City("City"},
<br /> San Matea County, ' State of California, has awarded to
<br /> Casey'ConStruCtion, Inc. , hereinafter designated as the
<br /> "Rrincipal", a Contract, the terms and provis'sons of which Contrac# are incarporated herein by
<br /> reference,for constructing the foliowing praject:
<br /> 2014-2015 WATERMAIN REPLACEMENT PROJECT
<br /> and ,
<br /> WHEREAS, said Principal is required under the terms of said Contract ta furnish a bond for the
<br /> faithful performance af said Contract;
<br /> NOW, THEREFORE, we, the Principal, and International Fidelity Insurance Companyas
<br /> surety, are held and firmly bound unta City, San Mateo County, California, in the penal sum of
<br /> Nine Hundred Ninetv-Seven Thousand Four Hundred Seventy-Two and No/100 D011ars ($ 997,472.00 ), laWful tllotley
<br /> of the United States, being one hundred percent(10�%)of the Contract amount,for the payment
<br /> of which,sum well and truly#o be made, we bind ourselves, our heirs, executors, administrators
<br /> and successors,jointly and severally, firmiy by these presents.
<br /> THE CONDITION {�F THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br /> i#s heirs, executors,administrators, successars or assigns, shall in all things stand to:and abide
<br /> by, and wilt truly keep and faithfully perform the cavenants, conditions, and agreements in the
<br /> said Contra�t and any alterations made as therein provided, on his or their part, ta be kept and
<br /> performed at th�time and in the manner therein specified, and in all respects according ta their
<br /> true intent and meaning, and shall indemnify and save harmless City, its Council, Commissioners,
<br /> boards, cammittees, officers, employees and agents, as therein stipulated, then this obligation
<br /> shall be null and void; otherwise it shall be and remain in full force and virtue.
<br /> As a conditian precedent to the satisfactary completion of the said Contract, the above obligation
<br /> shall ho{d good for a �riod of one(1) year after the completion and acceptance of the said work,
<br /> during which time i� the abave bounden Principal, his or its heirs, executors, administrators,
<br /> successors ar assigns shall fail':to make fuil, complete and satisfactory repair and replacements
<br /> ar totally protect the said City from loss ar damage made evident during said period of one (1}
<br /> year from the date of acceptance of said work, and resulting from or caused by defective materials
<br /> or faulty workmanship, in the prosecutian of the work done, the above obligation shall be and
<br /> remain in ful(farce and vir#ue. '
<br /> And the sa�d Surety, for value received, hereby stipulates and agrees ta waive the provisions of
<br /> Gafifornia CiviE Code Section 2819 regarding consent to change, extensian of time, alteration, or
<br /> additian to the terms of the 'Contract or to the work ta be performed thereunder, or the
<br /> Specifications accpmpanying the same shall in any way affect its obligations an this bond; and it
<br /> does hereby waive notice of any such change, extension of time, atteration or addition to the
<br /> tecros of the Contraet, or to the work, or to the Specificatians.
<br /> In the event City, or its successors or assigns, shall be the prevaiiing party in an action braught
<br /> upon this bond, then, in additian to the pena� sum hereinabove specified, we agree to pay to the
<br /> said City, or its successors or assigns, a reasonable sum on account of attorney's fees in such
<br /> action,which'sum shatl be fixed by the court.
<br /> IN WITNESS THEREOF, the above bounden parties have executed this instrument under their
<br /> seals this 7th day of July 2015 the name and carporate seaf of each
<br /> FAITHFUL PERFORNIANCE BQND
<br /> 2044-2U15 WATERMAiN RERLACEMENT PROJECT
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