Agmt95 Metricom - Laserfiche WebLink

Browse Search

EXHIBIT J! Bond No. U 259 32 11 Premium: $100.00 per annum. SURETY BOND KNOW ALL MEN BY THESE PRESENTS: that METRICOM, INC. , as Principal, and UNITED PACIFIC INSURANCE COMPANY, incorporated under the laws of the State of Pennsylvania, and authorized to execute bonds and undertakings as sole surety, are held and firmly bound unto the CITY OF REDWOOD CITY, as Obligee, in the sum of FIVE THOUSAND AND NO/100 DOLLARS ($5,000.00) ; for the payment thereof, well and truly to be made, said Principal and Surety bind themselves, their administrators, successors and assigns, jointly and severally, firmly by these presents. The condition of the foregoing obligation is such that: WHEREAS, the above bounden Principal is about to enter into a certain agreement with the Obligee for the following: Installation and Service Agreement the award of which said agreement was made to said Contractor by the Obligee on October 19, 1995. NOW, THEREFORE, if the Principal shall well, truly and faithfully perform its duties, all the undertakings, covenants, terms, conditions and agreements of said contract during the original term thereof, and any extensions thereof which may be granted by the Obligee, with or without notice to the Surety, and if he shall satisfy all claims and demands incurred under such contract, and shall fully indemnify and save harmless the Obligee from all costs and damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Obligee all outlay and expenses which the Obligee may incur in making good any default, then this obligation shall be void; otherwise to remain in full force and effect. PROVIDED, FURTHER, that the said Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the work to be performed thereunder or the specifications accompanying the same shall in any wise affect its obligation on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the work or to the specifications. PROVIDED, HOWEVER, this bond is issued subject to the following express conditions: 1. This bond shall be deemed continuous in form and shall remain in full force and effect and shall run concurrently with the agreement period, and each and every succeeding renewal period or periods, after which liability hereunder shall cease except as to any liability or indebtness therefore incurred or accrued hereunder. --......., ...- I