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Bond No.650860P
<br /> � Premium: Included in Performance Bond Amount
<br /> PAYMENT BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: That we, ___Bayside Stripe&Seal,Inc.
<br /> as Principal, and, Indemnity Company of California organized and
<br /> existing under the laws of the State af Califarnia
<br /> , and authorized to execute
<br /> bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all
<br /> persons named in California Civil Code Section 3181 whose claim has not been paid by the
<br /> Contractor, company or corparation in the aggregate total of
<br /> -One Hundred Sixty One Thousand Eight Hundred Sixteen Dollars and Sixty Cents- DOIIr�CS �� ---161>816.60--- ) (being
<br /> 100% of the Contract amount) for the payment whereof, well and truly to be made, said Principal
<br /> and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and
<br /> severally, firmly by these presents.
<br /> THE CONDITION OF THE FOREGOING OBLIGATI�N IS SUCH that, whereas the above with
<br /> the City of Redwood City ("City") to do the following work, to-wit:
<br /> FARM HILL BOULEVARD�JEFFERSUN AVENUE SIGNING AND STRIPING PROJECT
<br /> NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the
<br /> persons named in Section 3181 of the Civil Code of the State of Califarnia, or amounts due
<br /> under the Unemployment Insurance Code with respect to work or labor performed under the
<br /> Contract, or for any amounts required to be deducted, withheld, and paid over to the
<br /> Employment Development Department from the wages of employees of the Contractor and his
<br /> subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the State of
<br /> California, with respect to such work and labor, the surety will pay for the same, in the amount
<br /> not exceeding the sum specified in this band, and also, in case suit is braught upon this bond, a
<br /> reasonable attorney's fee, to be fixed by the Court.
<br /> This bond shall inure ta the benefit of any persan named in Section 3181 of the Civil Code of the
<br /> State of Califarnia so as ta give a right of action to them or their assignees in suit brought upon
<br /> this bond.
<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 Civil Code Sections 3247-3252, inclusive, and all
<br /> amendrnents thereta
<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 of time alteration, or
<br /> additian 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 notice o# 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 WtTNESS WHEREOF, the above bounden parties have executed this instrument under their
<br /> seals this 23rd day of luly ,20 15 the name and corporate seal of
<br /> FAITHFUL PERFORMANCE BOND
<br /> FARM HI�L BOULEVARD&JEFFERSON AVENUE SIGNING AND STRIPING PROJECT
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