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BOND NO.: 111 2747 6726
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<br /> FAITHFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood
<br />City("City"), San Mated County, State of Callfomia, has awarded to
<br />~ ROBERT A. BOTHMAN, INC... , hereinafter design&ted as the
<br />"Principal", e Contract, the terms and provisions of which Contract are incorporated
<br />herein by reference, for constructing the following project:
<br /> Sport Field Improvement Prelect at G~[fi~ld (~,harter 5~choel ~ and
<br />
<br />WHEREAS, said Principal is required under the terms of said Contract to furnish a bond
<br />for the faithful performance of said Contract;
<br />
<br />NOW, THEREFORE, we, the Principal, and THE AMERICAN INSURANCE COMPANY,
<br />as surety, are held and firmly bound unto City, San MateD County, California, in the
<br />penal sum of Nine Hundred Thirty S~x Thousand Three Hundred TwentvDollars
<br />($ ~36.320.00 ), lawful money of the United States, I~eing One hundred percent
<br />(100%) of the Contract amount, for the payment of which sum well and truly to De made,
<br />we bind ourselves, our heirs, executors, administrators and successors, JOintly anti
<br />severally, firmly by these presents.
<br />
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal,
<br />his or its heirs, executors, ~dmintstrators, successors or assigns, shall in all things stand
<br />to and abide by, and well and truly keep and faithfully perform.the covenants, conditions,
<br />and agreements In the said Contract and any alterations made as Iherein provided, on
<br />his or their part, to be kept and performed at tl~e time and in t~e manner therein
<br />specified, end in all respects a~.cording to their true infarct and meaning, and Shall
<br />indemnify and save harmless City. ils Council, Commissioners, boards, committees,
<br />officers, enlployees and agents, as therein stipulated, then this obligation shall be null
<br />and void; otherwise it shall be and remain in full force and virtue.
<br />
<br />As a condition precedent to the satisfactory completion of the said Contract, the above
<br />obligation alkali I~old good for a periocl of one (1) year after the completion and
<br />acceptance of t~e said work, cluring wl~lch time if the above bounden Principal, his or its
<br />I~eirs, executors, administrators, successors or assigns shall fail to mal(e full, complete
<br />end satisfac10ry repair arid replacements or totally prote~ .the said City from loss or
<br />damage made evident during said period of one (1) year from the date of acceptance et
<br />said work, and resulting from or caused by defective materials or faulty workmanship, in
<br />the prosecution of the work done, the above obligalion shall ba and remain in full force
<br />and virtue.
<br />
<br />And the said Surety, for value received, heral~y stipulates and agrees to waive the
<br />provisions of California Civil Code Section 2819 regarding oonsent to change, extension
<br />of time, alteration, or addition to the terms of the Contracl or to the work to be performed
<br />thereunder or the Specifications accompanying the same shall in any wise affect ils
<br />obligations on tl~is bond; and it does hereby waive notice of any such ethanes, extension
<br />of time. alteration or addition to the terms of the Contract, or to the work, or to the
<br />Specifications.
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