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EXECUTED IN DUPLICATE ORIGINAL Bond:#]06522799
<br /> Premium: Included in performance
<br /> PAYMENT B�ND
<br /> KNOW ALL MEN BY THESE PRESENTS: That we,�merican Pavement Svstems,Inc.
<br /> as Principal, and, Travelers Casualty and Surety Company of America organized and
<br /> existing under the laws of the State of California
<br /> bonds and undertaking as sole surety, as Surety, are held and�firmly boundrun o any anduall
<br /> persons named in Califomia Civil Code Section 3181 whose claim has not been paid by the
<br /> Contractor, company or corporation in the aggregate total of
<br /> �x Dollars ($3,177,892.75 � p�jn
<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,fi�rnly by these presents.
<br /> THE CONDlTION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with
<br /> the City of Redwood City("City")to do the following work,to-wit:
<br /> 2015-2096 ASPHALT RUBBER CAPE SEAL AND SPOT REPAIR PROJECT
<br /> NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the
<br /> persons named in Section 3189 of the Civil Code of the State of California, or amounts due under
<br /> the Unemployment Insurance Cade with respect to work or labor pertormed 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 Section 13020 of the Unemployment Insurance Code of the State of California, with
<br /> respect to such work and labor,the surety wilt 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 shatl inure to the benefit of any person named in Section 3181 of the Civi!Code of the
<br /> State of Califomia so as to give a �Ight of action to them or their asslgnees 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 Califomia as designated in Civil Code Sections 3247-3252, inclusive, and all
<br /> amendments thereto.
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br /> Califomia 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 pertoRned 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 Specifications.
<br /> IN WITNESS WHEREOF, the above bounden parties have xecuted this instrument under their
<br /> seals this Sth day of _ July ,201� the name and corporate seal of
<br /> each corporate party being hereto affixed and these presents duly signed by its undersigned
<br /> representative, pursuant to authority of its governing body.
<br /> QTTEST: American Pavement Systems,Inc.
<br /> Principal
<br /> **Three Million One Hundred Seventy Seven Thousand Eight Hundred Ninety Two and 75/!00's
<br /> FAITHFUL PERFORMANCE BOND
<br /> 2015-2016 ASPHALT RUBBER CAPE SEAL AND SPOT REPAIR PROJECT 0�10-3
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