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<br />. <br /> <br />I Bond No. 17-22-06 <br />EXECUTED IN TRIPLICATE <br />I ' Premium $6,076.00 <br /> <br />SECTION 00201 <br /> <br />I FAITHFUL PERFORMANCE BOND <br /> <br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City <br />1- ("City"). San lVIateo County, State of California, has awarded to <br />Robison-Prezioso, Inc. , hereinafter designated as the <br />"Principal". a Contract. the terms and provisions of which Contract are incorporated <br />I herein by reference, for constructing the following project: '1996 Water Tank <br />Rehabilitation Proiect and <br /> <br />. <br /> <br />_I WHEREAS, said Principal is required under the terms of said Contract to furnish a <br />bond for the faithful performance of said Contract; <br />National Union Fire Insurance <br />i NOW. THEREFORE, we. the Principal. and Company of Pittsburgh. Pa. , as <br />. surety. are held and firmly bound unto City. San Mateo County. California, in the <br />penal sum of ** Dollars <br />($ 723,295.00 ), lawful money of the United States. being one hundred percent <br />I (100%) of the Contract amount, for the payment of which sum well and truly to be <br />made. we bind ourselves, our heirs. e~ecutors, administrators and successors, <br />jointly ~nd severally, firmly by these presents. <br /> <br />I THE CONDITION OF THIS OBlIGÄTION IS SUCH. that if the above bounden <br />Principal. his or its heirs, executors. administrators, successors or assigns.. shall in <br />I all things stand to and abide by. and well and truly keep and faithfully perform the <br />covenants, conditions. and agreements in the said Contract and any alterations <br />made as therein provided. on his or their part, to be këøt and performed at the time <br />I and in the manner therein specified, and in all respects according to their true intent <br />.. and meaning, and shall indemnify and sa". harmless City. its Council. <br />Commissioners. boards. committees. officers, employees and agents. as therein <br />I stipulated, then this obligation shall be null and void; otherwise it shall be. Bnd <br />remain in full force and virtue. <br /> <br />I As a condition precedent to the sBtisfactory completion of the said Contract, the <br />above obligation shall hold good for a period of one (') year after the completion <br />and acceptance of the said work, during which time if the above bounden Principal. <br />I his or its heirs. executors. administrBtors, successors or assigns shall fail to make <br />full. complete and satisfactory repair and replacements or totally protect the said <br />~ City from loss or damage made evident during said period of one (') year from the <br />date of acceptance of said work, and resulting from or caused by defective <br />I 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 />I 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, <br />, extension of time, alteration, or addition to the terms of the Contract or to the work <br />1 to be performed thereunder or the Specifications accompanying the same shall in <br />any wise affect its obligations on this bond; and it does hereby waive notice of any <br /> <br />I **Seven hundred twenty three thousand two , hundred ninety five and no/100 <br /> <br />FAITHFUL PERFORMANCe BOND 00201-1 <br /> <br />I <br />