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BOND# 103323436 <br /> Prem. Incl.in Perf. Bond <br /> <br /> SECTION 00202 <br /> <br /> PAYMENT BOND <br /> <br /> KNOW ALL MEN BY THESE PRESENTS: That we, <br /> <br /> L & B Engineering Inc. <br /> <br /> as Principal, and, Travelers CaSualt~ and Surety Company of America organizsd <br /> and exisling under the laws ..of the State of California <br /> <br /> , and authorized to <br /> exec;IJte bonds and undertaking as sole surety, as Surety, am held and firmly bound <br /> unto .any and all persons named in California Civil Code Section 3181 whose claim has <br /> not been paid by the Contractor, company Or corporation in the aggregate total of <br />Two Hundred...Forty-five Thousand~Nine Hundred* ~k~lars ($ 245,950.00 ) <br />(being 100% of the Contract amount) for the payment whereof, well and truly to be <br />made, said Principal and Surety bond themselves, their heirs, administretom, <br />successors, and assigns, Jointly and severally, firmly by these presents. <br /> *Fifty and no/100 .... <br />THE'CONDITION OF THE FORE(~OIN(~ OBLIGATION IS SUCH that, whereas the <br />above with the City of Redwood City ('City") to do the following work. to-wit: <br /> <br /> 2001-2002 COS'r 8HARED SIDEWALK REPAIR PRojEcT <br /> <br />NOW, THEREFORE, if the above-bounden Principal or his subcontractom fail to pay <br />any of the persons named in Section 3181 of the Civil Code of the State of California. or <br />amounts due under the Unemployment Insurance Code with respect to work or labor <br />performed under the Contract, or for any amounts required to be deducted, withheld, <br />and paid over to the Employment Development Department from the wages of <br />employees of the Contract. or and his subcontractor pursuant to Section 13020 of the <br />Unemployment Insurance Code of the State of California, with respect to such work and <br />labor, the surety will pay for the same, in the amount not exceeding the sum specified in <br />this bond, and also, in 'case suit is brought upon this bond, a reasonable attorney's fee, <br />to be fixed by the Court. <br /> <br />This bond shall inure to the benefit of any person named in Section 3181 of the Civil <br />Code of the State of California so as to give a right of action to them or their assignees <br />in suit brought upon this bond. <br /> <br />This bond is executed and flied to comply with the provisions of the act of the <br />LeglsilatUre of the State of Callfomla as designated in Civil. Code Sections 3247-3252, <br />inclusive, and all amendments thereto. <br /> <br />And the said SUrety, for value received, hereby stipulates and agrees to waive the <br />provisions of California Civil Code Section 2819 regarding consent to change, extension <br />of time alteration, or addition to the terms of the Contract, or to the work to be per/ormed <br />thereunder, or the Specifications accompanying the same, shall in any way affect its <br />obligations on this bond; and it does hereby waive notice of any such change, extension <br /> <br />PAYMENT BOND 00202-1 <br /> <br /> <br />