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BOND# 103323437 <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 Casualty and Surety Company of America organized <br /> and existing under the laws of the State of · California <br /> and authorized to <br /> execute bonds and undertaking as sole surety, as Surety. are held and firmly bound <br /> unto any and all persons named in California Civil Coda Section 3181 whose claim has <br /> not been paid by the Contractor, company or corporation in the aggregate total of <br />Six Hundred Twenty-Nine Thousand,Nine Hundred & no/100Dollam ($ 629,900.00 ) <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, administrators, <br /> sucCessors, and assigns, jointly and severally, firmly by these presents. <br /> <br /> THE CONDITION OF THE FOREGOING OBUGATION IS SUCH that, whereas the <br /> above with the City of Redwood City ("City") to do the following work. to-wit: <br /> <br /> 2000-2001 TREE PRESERVATION AND SIDEWALK REPAIR PROGRAM <br /> <br /> NOW. THEREFORE, if the above-bounden Principal or his Subcontractors fail to pay <br /> any of the per~ons named in Section 3181 of.the Civil Code of the State of California. or <br /> ameunts 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 Contractor 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 filed to comply with the provisions of the act of the <br /> Legislature of the State of California 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 pedormed <br /> thereunder, or the Specifications accompanying the same. shall in any way affect its <br /> obl~ations on this bond; and it does hereby waive notice of any such change, extension <br /> <br /> PAYMENT BOND 00202-1 <br /> <br /> <br />