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Bc--~ Number SUR 35-13352
<br /> P~_ Jit~n $962.00
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<br /> SECTION 00201
<br />
<br /> FAITHFUL PERFORMANCE BOND
<br />
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City
<br /> ("City'), San Mateo County, State of California, has awarded to
<br /> ~C, Inc. dba Accutite , hereinafter designated, as the
<br /> "Principal", a .Contract, the 'terms and provisions of which Contract am incorporated '
<br /> herein by reference, for constructing the following project:
<br />
<br /> REDWOOD CITY MAIN MBRAR¥
<br /> PROJECT READ OFFICE EXPANSION PROJECT and
<br /> WHEREAS, said Principal is required under the terms of said Contract to furnish a bond
<br /> for the faithful performance of said Contract;
<br />
<br /> NOW, THEREFORE, we, the Principal, and American Guarantee and Liability l~surance
<br /> as surety, are held and firmly bound unto City, San Mateo County, California, in the Company
<br /> penal sum of Thirty Eight Thousand Four Hund~.ed Seventy &* Dollars
<br /> ($ 38,470.00 ), lawful money of the United States, being one hundred percent
<br /> (100%) of the Contract amount, for the payment of which sum well and truly to be made,
<br /> we bind ourselves, our heirs, executors, administrators and successors, jointly and
<br /> severally, firmly by these presents. *00/100
<br />
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal,
<br /> his or its heirs, executors, administrators, 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 therein provided, on
<br /> his or their part, to be kept and performed at the time and in the manner therein
<br /> specified, and in all respects according to their true intent and meaning, and shall
<br /> indemnify and save harmless City, its Council, Commissioners, boards, committees,
<br /> officers, employees 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 shall hold good for a padod of one (1) year after the' completion and
<br />acceptance of the said work, during which time if the above bounden Principal, his or its
<br />heirs, executors, administrators, successors or assigns shall fail to make full, complete
<br />and satisfactory repair and replacements or totally protect the said City from loss or
<br />damage made evident dudng said pedod of one (1) year from the date of acceptance of
<br />said work, and resulting from or causedby defective materials or faulty workmanship, in
<br />the prosecution of the Work done, the above obligation shall be and remain in full force
<br />and virtue. . ~
<br />
<br />And the said 'Surety, for ;value received, hereby stipulates and agrees to waive ~he
<br />provisions of California civil Code Section 2819 regarding consent to change, extension
<br />of time, alteration, or addition to the terms of the Contract or to the work to be perlormed
<br />thereunder or the Specifications accompanying the same shall in any wise affect its
<br />obligations on this bond; and it does hereby waive notioe'of any such change, extension
<br />of time, alteration or addition to the terms of the Contract, or to the work, or to the
<br />specifications.
<br />
<br />FAITHFUL PERFORMAN BOND 00201-1
<br />RWS MAIN. LIBRARY PROJECT READ OFFICE EXPANSION
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