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DES:dj'- 03/01/96 (001/70) Said bond shall be liable for any and all penalties and obligations which may be incurred by Contractor under this agreement. Acceptance of the bond by the City is subject to the review and approval of the bond by the City Attorney's office. 10. In addition to the bond required under Paragraph 9 hereof, Contractor shall furnish a good and sufficient corporate surety bond in the penal sum of one hundred percent (100%) of amount of bid, which bond shall conform strictly with the provisions of Chapter 7 , Title 15, Part 4, Division 3, of the Civil Code of the State of California, and all amendments thereto. Acceptance of the bond by the City is subject to the review and approval of the bond by the City Attorney's office. 11. Pursuant to California Public Contract Code Section 7100, the acceptance by Contractor of an undisputed payment made under the terms of the contract shall operate as, and shall be, a release to City, and its duly authorized agents, from all claim of and/or liability to Contractor arising by virtue of the contract related to those amounts. Disputed contract claims in stated amounts may be specifically excluded by Contractor from the operation of the release. 12. The Contractor may substitute securities for the amounts retained by the City to ensure performance of the contract in accordance with the provisions of Section 22300 of the Public Contract Code. 13. The representations made herein, including the bidder's licensing information hereinafter furnished, are made under penalty of perjury. The undersigned understands that any bid not 13 -- -- . ..-.'-'.-.-.>...."""" ._,--~-_..._~~~"-,~..,,.-.-,.~-,-,._~ I -,-,~_.,-". ""'~'''-_.- '-, .----...-- ,..