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BOND NO. 817793P
<br /> Premium Included in Performance Bond
<br />
<br /> PAYMENT BOND
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<br /> KNOW ALL MEN BY THESE PRESENTS: That we, P & J UTILITY CO[,~A.~ . .'
<br />
<br />as Principal, and, DEVELOPERS SURETY AND INDEMNITY COMPANY
<br />organized and existing under the laws of the State of -C-,et~,cr:1,1c. Iowa
<br /> and authorized to
<br />execute bonds and undertaking as sole surety, as Surety, are hel~t and firmly bound unto
<br />any and all perso, ns named in California Civil Code Section 3181 whose claim has not
<br />been paid by the Contractor, comoanv or corooration in the aggregate total of
<br /> ONE MILLION FIVE HUNDRED SEVENTY-FOUR THOUSAND ,,
<br /> T~.lrO urn, Tn
<br /> ...... RED
<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 OBLIGATION 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 Watermain Replacement Project
<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 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, 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 />wilt pay for the same, in the amount not exceeding the sum specified in this bond, and
<br />also, in case 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 2erson 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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