Agmt05 McNamara & Smallman Cons - Laserfiche WebLink

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Bond #: 0359597 Premium: Included with Performance Bond SECTION 00820 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, McNamara & Smallman Construction, Inc. 88 Prlndpal, and, International Fidelity Insurance Company organized and e)å8ting under the laws of the State of California The State of New Jersey , and authorized to execute bonds and undertaking as sole surety, as Surety. .... held and firmly bound unto any and all persons named in California Civil Code Section 3181 whose claim h88 not been paid by the Contractor, company or corporation In the aggregate total of Eight Hundred Eighty-six Thousand, One Hundred Seventy-two and 00/100 Dollars ($ 886.172.00 ) (being 100% of the Contract amount) for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs. administrators. 8uccessOrs, and assigns, jointly and eeveraly, firmly by these presents. THE CONDI11ON OF THE FOREGOING OBUGATJON IS SUCH thata whef8a8 the above with the City of Redwood City rCItY? to do the following work. to-wlt: 2004-2006 SEWER MAIN REPLACEMENT PROJECT NOW. THEREFORE, if the above-bounden Principal or his 8ubcontractora fall to pay any of the persons named in Section 3181 of the Civil Cod. of the State of California, Dr amounts due under the Unemployment Insurance Cade with respect to work or labor performed under the Contract, or for any amounts required to be deducted, wtthhelcl, and psld over to the Employment Development Department from the wages of employees of the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment Insurance Cads of the State of California, with respect to 8uch work and labor, the .urety YJlII pay for the same, In the amount not exceeding the sum specified in this band, and also, In case suit is brought upon this bond, a reasonable attorney's fee, to be fixed by the Court. This bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the State of California so as to give a right of action to them or their usignees In 8uR brought upon this bond. This bond 18 executed and filed to comply With the provisions of the act of the Legislature of the State of California as designated In CMI Code Sections 3247-3252, Inclusive, and all amendments thereto. And the said Surety, for value received, hereby stipulate. and ag..... to waiVe the provisions of California Civil Code Section 2819 regarding consent to change, extension of time alteration, or addition to the terms of the Contract, or to the work to be performed thereunder, or the Specifications accompanying the same, shal~ in any way effect Ita obligations on this bond; and it does hereby waive notice of any such change, extension of time. alteration, or addition to the terms of the Contract, or to the work, or to the Specifications. PAYMENT BOND 2004-2005 SEWER MAIN REPLACEMÉNT PROJECT 00620.1 r.