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<br /> Issued In Duplicate Bond Number:K09509835
<br /> Premium:$29,364.00
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL ME(d BY THESE PRESEN7'S: that, WHEREAS, the Gity of Redwood City("City"),
<br /> San Mateo Caunty, State af California, has awarded to
<br /> JMB CONSTRUCTION,11vC. hereinafter deslgnated as the
<br /> �
<br /> "Principal", a Contract, the terms and provisians of which Contract are incorporated herein by
<br /> reference, for constructing the following project: i
<br /> WAI.NUT STRE�T AND MAPLE�TREET SEWER INTERC�PTOR IMPR(�VEMENT PR�JECT
<br /> and
<br /> VI/HEREAS, said Principal is required under the terms of said Cantrac#to fumish a band far th�
<br /> faithful performance oi said Contract;
<br /> NOW, THEREFC}R�, we, the Principal, �nd WESTCHESTER FIRE INSURANCE COMPANYas
<br /> surety, ar� held and firmly bound unto City, San Mateo County, California, in the penal sum af
<br /> Two Million Seven Hundred Eight Thousand and no/100 Dollat'S ($2,70R,000.00 ), lawful money
<br /> af the United States, being one hundred percent (100°l0) of the Contract amount, for the
<br /> payment of which sum well and truly to be made, we bind aurselves, our heirs, executors,
<br /> adrninistrators and successors,jointly and severally> firmly by these presents.
<br /> THE CONDITIQN O�THIS OBLIGATION IS SUCH, that if the above bounden Princlpai, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in ali thfngs stand to and abide
<br /> by, and will tru�y keep and faithfully peNarm the cov�nants, conditions, and agreements in the
<br /> said Contract and any alterations made as therein prcrvided, on his or theirpart, ta be kept and
<br /> per�ormed at the time and in the manner therein specif'red, and in all res{�ects accarding to their
<br /> true intent and meaning, and shall indemnify and save harmless Clty, its Council,
<br /> Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br /> then this obligatian shall be null and vold; otherwise iE shall be and remain in full farce and
<br /> virtus.
<br /> As a condition precedent to the satisfactory completian of the said Contract, the abave
<br /> obilgation shail hoid good for a p�riod af one (1} year after the completion and acceptance of
<br /> the said wark, during which time if the above baunden Principal, his ar its heirs, executars,
<br /> administrators, successors or assigns shail faii to make full, complete and satisfactory re�air
<br /> and repiacemenis or tataily protect the said City from loss or damage made evident during said
<br /> period of ane (1) year from the date of acceptance of said work, and resulting from ar caused by
<br /> defective materiais or faulty workmanship, in the prosecution of the work done, the above
<br /> obligatian shall be and remain in full force and virtue. �
<br /> And the said Surety, for value received, hereby stipulates and agrees to wafve the pravisions of !
<br /> Galifornia Givii Code Section 2819 regarding cansent to change, extension o1 time, aiter�tion, or E
<br /> addition to the terms of the Contract or to ths work to be perfarmed thereunder, or the
<br /> Specificatiar�s accompanying the same s�ail in any way affect its obiigations on this bond; and it
<br /> does hereby waive natice of any such change, extension of time, alteration or addition to the
<br /> tsrms af the Contract, or to the work, or to the Sp�c'rficatians.
<br /> In the event City, or its successors or assigns, shall be the prevailing party in an action brought
<br /> upan this bond, then, in addition to the penal 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 /> actian, which sum shall be fixed by the court.
<br /> Walnut Street and Map1e Strest Sewer Interceptor improvement Project 00610-i
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