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<br />\UG-Ol-03 13:13
<br />
<br />FROM-GRAHAM CONTRACTORS
<br />
<br />408-
<br />
<br />T-896
<br />
<br />P04/12
<br />
<br />F-607
<br />
<br />"
<br />
<br />BOND IISY6310
<br />PREMIUM: $1,891.00
<br />
<br />FÆTHFULPERfORMANCEBOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood
<br />City("City"), San Mateo County, ßtatl3; of California, has awarded to
<br />GRAHAM CONTRACTORS. INC. 1 hereinafter designated as the
<br />"Principal", a Contract, the terms and p¡-,ovisions of which Contract are incorporated
<br />herein by reference, for con~ìtructing the following project:
<br />2002-2003 SLURRY SEAL PROJECT , and
<br />
<br />WHEREAS, said Principal is required under thl;¡ terms of said Contract to furnish a bond
<br />for the faithful performance of said ContrGlct;
<br />
<br />2002.2003 SLUI':IRY SEAL PROJECT
<br />
<br />NOW, THEREFORE, we, the Principal, 211rld _~NITED STATES FIDELITY AND GUARANT~
<br />as surety, are held and firmly bound unt,:> Oity, San Mateo County, California, in the
<br />penal sum of TWO HUNDRED SIll!.- TWO THOUSAND SIX HUNDRED* Dollars
<br />($ 262,635.30 ), lawful money of trl(;: United States, being one hundred percent
<br />(100%) of the Contract amount, for the p~iymeHnt of which sum well and truly to be made,
<br />we bind ourselves, our heirs, executom, administrators and successors. jointly and
<br />severally. firmly by these presents. *THIRTY FIVE AND 30/100S---
<br />
<br />COMPANY
<br />
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden
<br />Principal, his or its heirs. executors, adminisltrators, successors or assigns, shall in all
<br />things stand to and abide by, and WE!I~ and truly keep and faithfully perform the
<br />covenants, conditions, and agreements in thl:1 said Contract and any alterations made
<br />as therein provided, on his or their part, t,:1 be Kept and performed at the time and in the
<br />manner therein specified, and in all respects ;31ccording to their true intent and meaning,
<br />and shall indemnify and save harmles:s City, its Council, Commissioners, boards,
<br />committees, officers, employees and agl;nts, as therein stipulated, then this obligation
<br />shall be null and void; otherwise it shall bE~ anc! remain in full force and virtue.
<br />
<br />As a condition precedent to the satisfact,:lry c;¡,mpletion of the said Contract, the above
<br />obligation shall hold good for a perioej of one (1) year after the completion and
<br />acceptance of the said work. during whiclÎI tÎml9 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 during said period of one (1) year from the date of acceptance of
<br />said work, and resulting from or caused by de:1fective 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 receiver!. he""eby stipulates and agrees to waive the
<br />provisions of California Civil Code Section 28' 9 regarding consent to change, extension
<br />of time, alteration, or addition to the term~i ,of the Contract or to the work to be performed
<br />thereunder or the Specifications accomp¡~nyjng the same shall in any wise affect its
<br />obHgations on this bond; and it does heretJY wi3ive notice of any such change, extension
<br />of time, alteration or addition to the terms c)f the Contract, or to the work, or to the
<br />Specifications.
<br />
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