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agents shall be in excess of Contractor's insurance and not contributory <br /> with it. <br /> <br /> 12. Contractor shall provide, upon the execution of this Agreement, a good <br /> and sufficient corporate surety bond in the penal sum of one hundred percent (100%) <br /> of amount bid, which bond shall be conditioned upon the faithful performance of all <br /> work required to be performed by Contractor under this Agreement. Said bond shall <br /> be liable for any and all penalties and obligations which may be incurred by <br /> Contractor under this Agreement. Acceptance of the bond by the City is subject to <br /> the review and approval of the bond by the City Attorney's office. <br /> <br /> 13. In addition to the bond required under Paragraph 12 hereof, Contractor <br /> shall furnish a good and sufficient corporate surety bond in the penal sum of one <br /> hundred percent (100%) of amount of bid, which bond shall conform strictly with the <br /> provisions of Chapter 7, Title 15, Part 4, Division 3, of the Civil Code of the State of <br /> California, and all amendments thereto. Acceptance of the bond by the City is <br /> subject to the review and approval of the bond by the City Attorney's office. <br /> <br /> 14. Pursuant to California Public Contract Code Section 7100, the acceptance <br /> by Contractor of an undisputed payment made under the terms of the Contract shall <br /> operate as, and shall be, a release to City, and their duly authorized agents, from all <br /> claim of and/or liability to Contractor arising by virtue of the Contract related to those <br /> amounts. Disputed contract claims in stated amounts may be specifically excluded <br /> by Contractor from the operation of the release. <br /> <br />Agmt-477 1 6 <br />FXS:djk <br />Shared/Redwood/Council <br />4/25/01 <br /> <br /> <br />