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<br /> SECTION 00610 Bond No. 242746
<br /> Premium: $8,380.00
<br /> F~THFULPERFORMANCEBOND KNOW ALL, MEN BY THESE PRESENTS: that, WHEREAS. the City of Redwood City(IICity·),
<br /> San Mateo Coun~, State of Califomia, has awarded to
<br /> Bamer Construction o. I hereinafter designated as the
<br /> ·Principal", a Contract, the terms and provisions of which Contract are incorporated herein by
<br /> reference. for constructing the following project:
<br /> SEAPORT CENTRE lEVEE REPAIR AND SEWER PUMP STATIONS
<br /> IMPROVEMENT PROJECT
<br /> and
<br /> WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract;
<br /> NOW, THEREFORE, we, the Principal, and American Contractors Indemnity Company. as
<br /> surety, are held and firmly bound unto City, San Mateo County, California, in the penal sum of
<br /> Three hundred sixty eight thousand nine hundred seventy five & NO/10Oths Dollars ($ 1-fi H q 7 E; () () >. lawful money
<br /> of the United States, being one hundred percent (100%) of the' Contract amount, for the
<br /> payment of which sum well and truly to be made, we bind ourselves, our heirs, executors.
<br /> administrators and successors, jointly and severally, firmly by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br /> its heirs. executors. administrators, successors or assigns. shall in all things stand to and abide
<br /> by, and will truly keep and faithfully perform the covenants, conditions. and agreements in the
<br /> said Contract and any alterations made as therein provided. on his or their part. to be kept and
<br /> performed at the time and in the manner therein specified, and in all respects according to their
<br /> true intent and meaning, and shall indemnify and save harmless City, its Council,
<br /> Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br /> then this obligation shall be null and void; otherwise it shall be and remain in full force and
<br /> virtue,
<br /> As a condition precedent to the satisfactory completion of the said Contract, the above
<br /> obligation shan hold good for a period of one (1) year after the completion and acceptance of
<br /> the said work, during 'Nhich time if the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make full, complete and satisfactory repair
<br /> and replacements or totally protect the said City from loss or damage made evident during said
<br /> period of one (1) year from the date of acceptance of said work, and resulting from or caused by
<br /> defective 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 /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br /> California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br /> addition to the terms of the Contract or to the work to be performed thereunder. or the
<br /> Specifications accompanying the same shall in any way, affect i!S obligatio~s on this ~~nd; and it
<br /> does hereby waive notice of any such change, extensIon of time, alteration or addItIon to the
<br /> terms of the Contract, or to the work, or to the Specifications.
<br /> FAITHFUL PERFORMANCE BOND 00610-1
<br /> SEAPORT CENTRE LEVEE REPAIR & SEWER PUMP STATIONS IMPROVEMENT
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