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-oond No. 929203692
<br /> Premium Included in Performance Bond
<br />
<br /> PAYMENT BOND
<br />
<br /> KNOW ALL MEN BY THESE PRESENTS: That we, _ M~c.,i~-~ ~,~,~ ~'~-,~r ,,,
<br />
<br />as Principal, and, National Fire Insurance Company, o~ Har,tford
<br />organized and existing under the laws of the State of ~
<br /> Uonnecticut
<br /> , , and authorized to
<br />execute bonds and undertaking as sole surety, ~ Surety, are held and firmly bound unto
<br />any and all persons named in California Civil Code Section 3181 whose claim has not
<br />~b~?,~l~c~ ~Ya ~e~ ~te~,~t.¥~ f~_~m_§~n~ _~_~ ~CsOarp~r_a~)~?I ir~ the aggregate total of
<br /> o H . o a
<br />(being 100% of the Contract amount) for the paym-ent 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 OBLIGATION IS SUCH that, whereas the
<br />above with the City of Redwood City ("City") to do the following work, to-wit:
<br /> Friendly Acres Area Storm Drain I~mprove~ents Pro~ect ,-Phase II
<br />
<br />NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any
<br />of the persons named in Section 3181 of the Civil Code of t~e 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, and
<br />paid over to the Employment Development Department from the wages of employees of
<br />the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment
<br />Insurance Code of the State of California, with respect to such work and labor, the surety
<br />will pay for the same, in the amount not exceeding the sum specified in this bond, and
<br />also, in ease suit is brought upon this bond, a reasonable attorney's fee, to be fixed by
<br />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 performed
<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 />of time, alteration, or addition to the terms of the Contract, or to the work, or to the
<br />Specifications.
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