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BOND NO. 106517182
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW AL.L MEN BY THE$E PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> San Mateo County, State of California, has awarded to
<br /> Corrpro Companies,Inc. , hereinafter designated as the
<br /> "Principal", a Contract, the terms and provisions of which Cantract are incorporated herein by
<br /> reference,fnr constructing the fiollowing project:
<br /> CATHODIC PROTECTION UPGRADE
<br /> OF THE RECYCLED WATER FIRST STEPS PIPELINES PRUJECT
<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; Travelers Casualty and Surety
<br /> NOW, 7HEREF4RE, we, the Principal, and Company of America , as
<br /> surety, are held and firmly baund unto City, San Mateo County, California, in the penat sum of
<br /> One Hundred'iWventy Nine Thousand Ei�ht Hundred FortY Two and No/100 DOIIBf'S �� 129,s42.00 ), lawful money
<br /> of the United States, being one hundred percent {100%) of the Contract amount, for the
<br /> payment of which sum weli and truly to be made, we bind ourse.ives, our heirs, executors,
<br /> administrators and successors,jointiy and severally, firmly by these presents.
<br /> THE CONDITION OF THIS OBLIGATI�N 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 faithful(y perfarm the covenants, conditions, and agreements in the
<br /> said Contract and any aiterations made as therein provided, on his or their part, to be kept and
<br /> performed at the time and in the mannertherein specified, and in all respects according to their
<br /> true intent and meaning, and shall indemnify and sav� harmless City, its Council,
<br /> Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br /> then this obligation shall be null and void; otherwise it shall be and remain in full force and
<br /> virtue.
<br /> As a condition precedent to the satisfactory comp(etion of the said Cont�act, the abov�
<br /> obligation shall hold good for a period of one (1) year after the completion and acceptance of
<br /> the said work, during which time if the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make full, complete and sa#isfactory repair
<br /> and replacements or totally protect the said Gity from loss or damage ma�e evident during said
<br /> period of one(1} year from the date of acceptance of said work, and resulting from or caused by
<br /> defective materials or faulty workmanship, in the prosecution of the work done, the above
<br /> obligation shall be and 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 of time, alteration, or
<br /> addition to the terms of the Contract or to the work to be performed thereunder, er the
<br /> Specifications accqmpanying 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 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 pena( sum hereinabove specified, we agree to pay to the
<br /> said Cify, ar its successors or assigns, a reasonable sum on account of attorney's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> FAlTHFUL PERFORMANCE BOND 00610-1
<br /> CATNODIC PROTECTION UPGRADE OF THE RECYCLED WATER FIRST STEPS PIPELtNES
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