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Premium: Included Bond No: 0655088
<br /> PAYMENT BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: Thai we, Casey Construction, Inc.
<br /> as Principal, and, International Fidelity Insurance Company organized and existing under the
<br /> laws af the State of Cafifornia, and authorized to execute bonds and undertaking as sofe surety,
<br /> as Surety, are held and firmly baund unto any and all persons named in California Civil Code
<br /> Section 3181 whose claim has not been paid by the Contractor, company or corporation in the
<br /> aggregate total of Three Million One Hundred Twenty-One Thousand Three Hundred* Dallars
<br /> ($3,121,340.00 )(being 100°l0 of the Contract amount)for the payment whereaf,well and
<br /> truty to be made, said Principal and Surety bond themselves, their heirs, administrators,
<br /> successors, and assigns,jaintly and severally, firmly by these presents.
<br /> *Forty and No/100 Dollars
<br /> TNE CONDITtON OF THE FOREGOING OBLlGAT10N IS SUCH that, whereas the above with
<br /> the Cify of Redwoad City ("City")to do the foAowing work, to-wit:
<br /> 2015-2416 SANtTARY SEWER REPLACEMENT 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 under
<br /> the Unemplayment Insurance Code with respect ta work or labor performed under the Contract,
<br /> or for any amounts required to be deducted, withheld, and paid over to the Employment
<br /> Development Department from the wages of employees of the Contractor and his subcontractor
<br /> pursuant to Seetion 1302Q of the Unemployment Insurance Code af the State of California, with
<br /> respect to such wark and labor, the surety will pay for the same, in the amount not exceeding the
<br /> sum specified in this bond, and also, in case suit is brought upon this bond, a reasonable
<br /> attomey's fee, to be fixed by the Court.
<br /> This bond shail inure to the benefit af any persan named in Sec#ion 3181 of the Civil Code of the
<br /> State of California so as to give a right of action to them or their assignees in suit brough# upon
<br /> this bond.
<br /> This bond is executed and filed to comply with the provisions af the act of the Legislature of the
<br /> State of California as designated in Civil Code Seetions 3247-3252, inclusive, and all
<br /> amendrnents thereto.
<br /> And the said Sure#y, for vafue 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, shal! in any way affeet its ob(igations 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 /> 2015-2016 SANITARY SEWER REPLACEMENT PROJECT
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