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<br /> Bond No.650860P
<br /> i Premium: $4,045.00
<br /> FAITHFUL PERFtJRMANCE BOND
<br /> KNOW ALL MEN BY TNESE PRESENTS: that, WHEREAS, the City af Redwood ("City"), San
<br /> Mateo County, State of California, has awarded to
<br /> _Bayside Stripe&Seal,Inc. , hereinafter designated as the
<br /> "Principal", a Contract, the terms and provisions of which Contract are incorporated herein by
<br /> reference, for constructing the following project:
<br /> FARM HILL BOULEVARD &JEFFERSON AVENUE SIGNING AND STRIPING PROJECT
<br /> and
<br /> WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract;
<br /> NOW, THEREFORE, we, the PrinCipal, and Indemnity Company of California , as
<br /> surety, are held and firmly bound unto City, San Mateo County, Galifornia, in the penal sum of
<br /> -One Hundred Sixty One Thousand Eight Hundred Sixteen Dollars and Sixty Cents- DOII2rS �$ ---161,816.60--- ), lawful money
<br /> af the United States, being one hundred percent(100%) of the Contract amount, for the payment
<br /> of which sum weN and truly to be made, we bind ourselves, our heirs, executors, administrators
<br /> and successors,jointly and severally, �rmly by these presents.
<br /> THE CONDITlON 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 will truly keep and faithfully perform the covenants, conditions, and agreements in the
<br /> said Contract 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 respeets according to their
<br /> true intent and meaning, and shall indemnify and save harmless City, its Council, Commissioners,
<br /> baards, committees, officers, employees and agents, as therein stipulated, then this obligation
<br /> shal! be null and void; otherwise it shall be and remain in full force and virtue.
<br /> As a condition precedent to the satisfactory completion of the said Contract, the above obligation
<br /> shall hold good for a period of one (1)year after the completion and acceptance of the said wark,
<br /> during which time if the above bounden Principal, his or its heirs, executors, administrators,
<br /> successors or assigns shall fail to make full, compiete and satisfactory repair and replacements
<br /> or totally protect the said City from loss or damage made evident during said period of one (1)
<br /> year from the date af acceptance of said work, and resulting from or caused by defective materials
<br /> or faulty workmanship, in the prosecution of the work done, the above obligation shall be and
<br /> remain in full force and virtue.
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br /> California Civil Code Section 2819 regarding consent to change, extension af 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 shall in any way affect its obligations on this bond; and it
<br /> does hereby waive natice 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 speci�ed, we agree to pay to the
<br /> said City, or its successars ar assigns, a reasonable sum on account of attomey's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> IN WITNESS THEREOF, the above bounden parties have executed this instrument under their
<br /> seals this 23rd day of luly 20 is the name and corporate seal of each
<br /> FAITHFUL PERFORMANCE BOND
<br /> FARM HILL BOULEVARD&JEFFERSON AVENUE SIGNING AND STRIPING PROJECT
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