Agmt01 S. G. Barber - Laserfiche WebLink

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Gulf Insurance Grou BOND NUMBER BE2627082 PREMIUM: $ 422.37 KNOWN ALL MEN BY THESE PRESENTS: THAT S.G. Barber Construction, Inc. (hereinafter called principal), as Principal, and the Gulf Insurance Company, a corporation of the State of Missouri with its principal Office in San Diego, Ca ( hereinafter called Surety), as Surety, are held and firmly bound unto City of Redwood ~_~y ,(hereinafter called Obligee), in the full and just sum of Sixto~n thn~.qnnd oight hHndr~wt ninmtx7 fix,o ($16,895.00). To the payment of which sum, well and truly to be ma~de, the Principal and surety bind themselves, their and each of their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. Signed, sealed and dated this 19th day of November 2001. WHEREAS, the Principal has entered into a certain written contract, dated the day of 2001 with the Obligee for Broadway and Second Avenue 5KV Street Light Circuit NOW ,THEREFORE, THE CONDITION OF Tills OBLIGATION IS SUCH, That, ffthe Principal shall indemnify the Obligee against any and all loss or damage directly arising by reason of the failure of the Principal to faithfully perform said contract, then this obligation shall be void; other~Sse to remain in full force and effect. This bond is executed and accepted upon the following express conditions precedent: 3. ' That the Obligee shall faithfully and punctually perform all the terms and conditions of said contract to be performed by the Obligee. 2 That if the Principal shall abandon said contract or be laxffully compelled by reason of a default to cease operations thereunder, the Surety shall have the right at its option to complete said contract or to sublet the completion thereof. 3. That the Obligee shall notify the Surety by registered letter, addressed and mailed to it at its Principal Office, of any breach of said contract ~Sthin a reasonable time after such breach shall have come to the knowledge of the Obligee. or the Architect, or En~neer. 4. That the Surety shall not be liable for any provisions of the contract or specifications respecting guarantees of efficiency or wearing qualities, of for the maintenance of repairs, nor is the Sure~' obligated to furmsh any other bond covering such proxSsions of the contract specifications 5. All suits at law or proceedings in equity to recover on this bond must be instituted ~ithin txvelve months after the completion of said contract, and in an>' event within twelve months form hhe date fixed in said contract for its completion. " /J Y pr~n~'~l., Wimess By: , .~.~ ~ Gulf Insur:,m~e g.ot~any ,, ..~'/_../ GULF-PERF (7/00) Aldert Att~reSfv'in~fact