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<br /> Bond No. 0655054
<br /> Premium: $15,485.
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City ("City"},
<br /> San Mateo County, State of California, has awarded ta Casey Construction, Inc.
<br /> hereinafter designated as the "Principal", a Contract, the terms and provisions of which Contract
<br /> are incorporated herein by reference, for constructing the fal{owing project:
<br /> SANITARY SEWER PUMP STATION IMPR(3VEMENTS PROJECT
<br /> MARINA P.S., P.S. NO, 17 � P.S. NO. 19
<br /> and
<br /> WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract; International Fidelity Insurance Company
<br /> NOW,THEREFORE, we, the Principai, and , as surety, are held
<br /> and firmly bound unto City, San Mateo County, California, in the penal sum of
<br /> One Million One Hundred Thousand Ninety-eiaht Thousand Five Hundred &No/100
<br /> ($_ 1,198,500.00 ), lawful money of the United States, being nne hundred percent
<br /> (140%) of the Contract amount, for the payment of which sum well and truly to be made, we bind
<br /> ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by
<br /> these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, #hat 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 alterations 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 al! respects according ta their
<br /> true intent and meaning,and shall indemnify and save harmless City, its Council, Cammissioners,
<br /> boards, committees, officers, employees and agents, as therein stipulated, then this obligation
<br /> shall be null and void; otherwise it shali be and remain in fuil force and virtue.
<br /> As a condition precedent to the satisfactory compietion of the said Contract, the above obligation
<br /> shali hold good far a period of one(1} year after the comple#ion and acceptance of the said work,
<br /> during which time if the above bounden Principal, his or its heirs, executors, administrators,
<br /> successors or assigns shall fail to make full, complete 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 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 full force and virtue.
<br /> And the said Surety, for value received, hereby stipulates and agrees ta waive the provisions of
<br /> California Civil Code Section 2819 regarding consent ta change, extens+on of time, al#eration, or
<br /> addition to the terms of the Cantract 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 of any such change, extension of time, alteration or addition to the
<br /> terms of the Contract, or to the work, or to the Specificatians.
<br /> In the event City, or its successors pr assigns, shal! be the prevailing party in an action brought
<br /> upon this bond, then, in addition ta the penal sum hereinabove specified, we agree to pay to the
<br /> FAITHFUL PERFORMANCE 80ND
<br /> SANITARY SEWER PUMP STATION IMPROVEMENTS PROJECT
<br /> MARINA P.S., P.S. N0, 17 AND P.S. N0. 19
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