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<br />AUG-01-O313:15
<br />
<br />FROM-GRAHAM CONTRACTORS
<br />
<br />408-
<br />
<br />T-896
<br />
<br />P.06/12
<br />
<br />H07
<br />
<br />BOND flSY6310
<br />
<br />PAYMENT BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: Th¡3lt we, GRAHAM CONTRACTORS, INC.
<br />
<br />as Principal, and, UNITED STATES ¥.rD~LITY AND GUARANTY COMPANY
<br />organized and existing under thE~ Laws of the State of b~
<br />MARYLAND , and authorized to
<br />execute bonds and undertaking as sale s,u re:¡ty , as Surety, are held and firmly bound
<br />unto any and all persons named in California Civil Code Section 3181 whose claim has
<br />not been paid by the Contractor, comp~~ny !Dr corporation in the aggregate total of
<br />TWO HUNDRED SIXTY TWO THOUSAND SJJL1!UNDRED*Dollars ($262,635.30 )
<br />(being 100% of the Contract amount) for thE payment whereof, well and truly to be
<br />made, said Principal and Surety bOllilj themselves, their heirs, administrators,
<br />successors, and assigns, jointly and severi=llIy, firmly by these presents.
<br />*THIRTY FIVE AND 30/100S---
<br />THE CONDITION OF THE FOREGOING OI:SLlGATION IS SUCH that, whereas the
<br />above with the City of Redwood City ("City") to do the following work, to-wit:
<br />
<br />2002.2003 SLUF~I~Y SEAL PROJECT
<br />
<br />NOW, THEREFORE, if the above-boundI3:n Principal or his subcontractors fail to pay
<br />any of the persons named in Section 318'1 of 11"1e Civil Code of the State of California, or
<br />amounts due under the Unemployment Insurëmce Code with respect to work or labor
<br />performed under the Contract, or for any amc)unts required to be deducted, withheld,
<br />and paid over to the Employment Development Department from the wages of
<br />employees of the Contractor and his subc~ontractor pursuant to Section 13020 of the
<br />Unemployment Insurance Code of the St~ill,e o:f California, with respect to such work and
<br />labor, the surety wilJ pay for the same, in tile amount not exceeding the sum specified in
<br />this bond, and also, in case suit is brought upon this bond, a reasonable attorney's fee,
<br />to be fixed by the Cou rt.
<br />
<br />This bond shall inure to the benefit of any person named in Section 3181 of the Civil
<br />Code of the State of California so as to give a right of action to them or their assignees
<br />in suit brought upon this bond.
<br />
<br />This bond is executed and filed to comply with the provisions of the act of the
<br />Legislature of the State of CaHfornia as desi9nated in Civil Code Sections 3247-3252,
<br />inclusive, and all amendments thereto,
<br />
<br />And the said Surety, for value received, heJ'lsby stipulates and agrees to waive the
<br />provisions of California Civil Code Section :281!3 regarding consent to change, extension
<br />of time alteration, or addition to the terms ,:,1 tht;¡ Contract, or to the work to be performed
<br />thereunder, or the Specifications accompanying the same, shall in any way affect its
<br />obligations on this bond; and it does hereby w;3íve notice of any such change, extension
<br />of time, alteration, or addition to the terms °'1' the Contract, or to the work, or to the
<br />Specifications.
<br />
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