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<br />Bond No.: 5369583
<br />Premium: $8,674.00
<br />
<br />SECTION 00610
<br />FAITHFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood Clty("Clty"),
<br />San Mateo County, State of California, has awarded to
<br />JJR Construction. Inc. , hereinafter designated 8S the
<br />"PrincIpal", a Contract, the terms and provIsIons of which Contract are incorporated herein by
<br />reference, for' constructing the following project:
<br />
<br />2003-2004 TREE PRESERVATION AND SIDEWALK REPAIR PROGRAM
<br />
<br />and
<br />
<br />WHËREAS, said Principal Is required under the terms of said Contract to furnish a bond for the
<br />faithful performance of said Contract;
<br />
<br />NOW, THEREFORE, we, the Principal, and Great American Insurance Company, as
<br />surety, are held and firmly bound unto City, San Mateo County, California, In the penal sum of
<br />F~vehÚndred sixty nine t:hóusand sixhundfed fifty two Dollars ($ 569,652.00 ), lawful money
<br />of the United States, being one hundredperœnt (100%) of the Contract amount, for the
<br />payment of which sum weiland truly to be made, we bind ourselves, our heirs, executors,
<br />administrators andstjcœssors, jointly and severally, firmly by these presents.
<br />
<br />THE .CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br />.its heirs, executors, administrators, successors or assigns, shall!n all things stand to and abide
<br />by, and will truly keep and faithfully perform thecovènants,conditions, and agreemants In the
<br />said Contract and any alterations made as therein provided, on hìs or their part, to be kept and
<br />perfol'YÔed at the time and in the manner therein specified, and in all respects according to their
<br />true intent and' meaning, and shall indemnify and save harmless City, Its Council,
<br />CommIssioners, boards, committees, öfficers, employees and agents, as therein stipulated,
<br />then this obligation shall be nuil andvold; otherwise Itshall be and remain In full force and
<br />virtue. -
<br />
<br />As e condition precedent to the satisfactory. completion of the said Contract, the above
<br />obligation shall hold good for a period of onej 1) year aftar the completion and acceptance of
<br />the said work, during which tIme if the above bounden Principal, his or its heirs, executors,
<br />administrators, successors or assigns shall fall to make full, complete and satisfactory repair
<br />and replacements or totaUyprotect the said City from loss or damage made evident during said
<br />period of one (1) yearfrom the date of acceptance of said work, and resulting from or caused by
<br />defective materials or faulty workmanship, In the prosecution of the work done, the above
<br />obligation shall be and remain in full force and virtue,
<br />
<br />And the saId Surety, for value received, hereby stIpulates and agrees to waive the provisions of
<br />California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br />addition to the terms of the Contract or to the work to be performed thereunder, or the
<br />Specifications accompanying the same shall in any way affect its obligations on this bond; and it
<br />does hereby waIve notice of any such change, extension of time, alteration or addition to the
<br />terms of the Contract, or to the work, or to the Specifications.
<br />
<br />FAITHFUL PERFORMANCE BOND
<br />
<br />00610-1
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