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<br />Bond No: S-902-6445
<br />Premium: 8,275.00
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<br />SECTION 00610
<br />FAITHFUL PERFORMANCE BOND
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<br />KNOW AlL MEN BY THESE PRESENTS: that, WHEREAS. the City of Redwood City("City"),
<br />San Mateo County, State of California. has awarded to
<br />Coast Side Associates , hereinafter designated as the
<br />"Principar', a Contract, the terms and provisions of which Contract are incorporated herein by
<br />reference, for constructing the following project
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<br />REDWOOD CITY LIBRARY
<br />SCHABERG BRANCH RENOVATION 2003
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<br />and
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<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 />
<br />NOW, THER;I=ORE, we, the Principal, and W3Sú.rgtm Intern:lt.iaEl IrBn:an::E ~ as
<br />surety, are held and firmly bound unto City, San Mateo County. California, in the penal sum of
<br />fÏ'iÆ! H.n:J:mì Eicþty ere 'l1u.Earrl, S:ix H.rrlmi * Dollars ($581,625.00 ), lawful money
<br />of the United States, being one hundred percent (100%) of the Contract amount, fer 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 />*'IWenty FJ.ve
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br />its heirs, executors, administrators, SUcœ8sors or assigns, shall in all things stand to and abide
<br />by, and will truly keep and faithfully perform the covenants, oonditions, 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 jn full force and
<br />virtue.
<br />
<br />As a condition precedent to the satisfactory completion of the said Contract, the above
<br />obligation shall hold good for a period of one (1) year after the completion and acceptance of
<br />the said work, during which time if the abo\(e bounden Principal, hilS 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 shaH be and remain in full force and virtue.
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<br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br />Calífornia 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 />Specífications acccmpanying the same shall in any way affect its obligations on this bond; and it
<br />FAITHFUL PERFORMANce BONO 00610-1
<br />RWC LIBRARY - SCHABERG BRANCH RENOVATION 2003
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