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-- -- Bond # SP6102
<br /> Premium - $9547.00
<br />
<br /> FAITHFUL PERFORMANCE BOND
<br />
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the C~ty of Redwood
<br /> City("C;ty"}, San Mateo County, State of California, has awarded to
<br /> Robert A. ~(~th'man. Thc. , hereinafter designated as the
<br /> "Pdncipai", a Contract the terms ancl provisions of which Contract are incorpocated
<br /> herein by reference, for c~nstruc~ng the following prdject:
<br /> Hoover Seer= Field Improvement Proiect , and
<br />
<br /> WHEREAS, said Principal is required under the terms of said Contract to furnish a tiond
<br /> f~r the faithful performance of said Contmc~;
<br />
<br /> NOW, THEREFORE, we, the Principal, and St. Paul Fire and Marine Insurance :ompany
<br /> as surety, are held and firmly bound unto San Matao County, California. in the
<br /> penal sum of ** Dollars
<br /> ($i,491,157.00 ). lawful money of the United States, being one hundred parent
<br /> (100%) of the Contract amount, for the payment of which sum well and truly t,~ be mace,
<br /> we bind ourselves, our heirs, executors, administrators and successors, jcmtly =.nd
<br /> severaily, firmiy tiy these presents.
<br />
<br /> THE CONDITION OF THiS OBLIGATION IS SUCH, that Jf the above bounden
<br /> Princ~pai. his or its heirs, executors, administrators, successors or assigns, shall in ail
<br /> things stand to and abide by, and well and truly keep and faithfully pedorm the
<br /> covenanm, conditions, and agreements in the said Contract and any alterations made
<br /> as therein provided, on his or their part, to be kept and performed at the time and in the
<br /> manner :herein specified, and in all respe~.s according to their true intent and meaning,
<br /> and smatl indemnify and save harmless City, its Council, Commissioners. boards,
<br /> committees, officers, employees and agents, as therein stipulated, then this ociigation
<br /> shaII be null and void; otherwise Jt shall be_ and remain in full force and virtue.
<br />
<br />As a condition precedent to the satJsfact, cry coml2ietion of the said Contra~, the above
<br />obligation shall hoid gco~ for a pedcd 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, adminisU"~tors, successors or assigns shall faii t~ make full, ~mpiete
<br />and satisfactory repair and replacements or totatJy protect the safd City from loss or
<br />damage made evident during said pedod of one (1) year from the date of acceptance of
<br />said work, and resulting from or caused by 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 />A~d the said Surety. for value received, hereby stipulates and agrees to w~ive the
<br />provisions of California Civil Code Section 2819 regarding consent to o~ange, extension
<br />of time, alteration, or addition to the terms of the Conu'act or to the work to be pe.fformed
<br />thereunder or the Specifications accompanying bhe same shall in any wise affect its
<br />obligations on this bond; and it does hereby waive notice 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 />One Million Four Hundred Ninety One Thousand One Hundred Fifty Seven Dollars
<br />& No Cents
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