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<br /> Bond Number: 929313070
<br /> Premium: $5,944.00
<br /> AFORMANCE BOND
<br />KNOW ALL MEN BY THESE PRE ENTS: that, WHEREAS, the City of Redwood
<br />City("CitY'), San Mateo County, State of California. has awarded to
<br />McGuire and Hester , hereinafter-designated as the
<br />"Principal", a Contract, the terms an provisions of whioh Contract are incorporated
<br />herein by reference, for constructing the following project:
<br />Redwood Snores Sewer Pump Stati ns #1 & #3 Improvement Pröject , and
<br />WHEREAS, said Principal is required u der the terms of said Contract to furnish a bond
<br />for the faithful performance of said Con ract;
<br />NOW, THEREFORE, we, the Principal and Western Surety Company ,
<br />as surety, are held and firm~ bound unto City, San Mateo County, California. in the
<br />penal sum of Six undred ty-Nine Thousand Two Hundred Dollars
<br />($ 629,250.00 ), laJtU oney 0 t e United States, being one hundred percent
<br />(100%) of the Contract amount, for the payment of which sum well and truly to be made,
<br />we bind ourselves. our heirs, execu rs, administrators and successors, jointly and
<br />severally, firmly by these presents.
<br />THE CONDITION OF THIS OBUGATI N IS SUCH, that if the above bounden Principal,
<br />his or its heirs. executors, administrato s, successors or assigns, shall in all things stand
<br />to and abide by, and well and truly kee and faithfully per:form the covenants, conditions.
<br />and agreements in the said Contract nd any alterations made as therein provi.ded, on
<br />his or their part, to be kept and pe ormed at the time and in the manner therein
<br />specified, and in all respects accord ng to their true intent and meaning, and shall
<br />indemnify and save harmless City, it Council, Commissioners, boards, committees,
<br />officers, employees and agents, as th rein stipulated, then this obligation shall be null
<br />and void; otherwise it shall be and rem in in full force and virtue.
<br />As a condition precedent to the satisf ctory completion of the said Contract, the above
<br />obligation shall hold good for a pe iod of one (1) year after the completion and
<br />acceptance of the said work, during w ich time if the above bounden Principal, his or its
<br />heirs, executors, administrators, succ ssors or assigns shall fail to make full, complete
<br />and satisfactory repair and replacem nts or totally protect the said City from loss or
<br />damage made evident during said per od of one (1) year from the date of acceptanc~ of
<br />said work, and resulting from or caus by defective materials or faulty wOrkmanship, in
<br />the prosecution of the work done,' the above obligation shall be and remain in full force
<br />and virtue. .
<br />And the said Surety, for value recei ed, hereby stipulates and agrees to waive the
<br />provisions of California Civil Code Se ion 28~ 9 regarding consent to change, extension
<br />of time, alteration. or addition to the te ms of the Contract or to the work to be performed
<br />thereunder or the Specifications acc mpanying the same shall in any wise affect its
<br />obligations on this bond; and it does h reby waive notice of any such change, extension
<br />of time, alteration or addition to the erms of the Contract, or to the work, or to the
<br />Specifications. "
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