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<br />05/13/05 FRI 10:34 FAX 612 331 5187
<br />05/05/2005.).4: 11 FAX 15105680687
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<br />McGANN ASSOCIATES MPLS ~~~ Harris Homeyer
<br />MCGANN ASSOC INC ... "',:Gann Mpis. IgIOO3
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<br />BOND NO:929280707
<br />replaces bond #929280717 executed on
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<br />SECTION 00610 4-26-05
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<br />FAITHFUL PERFORMANCE BOND
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<br />KNOW \,lL MEN BY THESE PRESENTS: that. WHEREAS, the City of Redwood City("CIty"),
<br />San Mateo County. State of california. has awarded ~o
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<br />'p~~~:~~. ~ ~~~:~~ Íh~ 5~¡¡,r;;"a+ p.;,1~~~ In=~= :"In ~
<br />reference. for constru ::tlng the followIng project:
<br />PROCURING AND INSTALLING PARKING CONTROL SYSTEM
<br />
<br />and
<br />
<br />Seven
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<br />WHEREAS. said Prlr cipal is required under the tenns of said Contract to furnish a bond for the
<br />faithful performance (If said Contract;
<br />
<br />. . Western Surety Company
<br />NOW, THEREFORE, we, the Principal, and ' as
<br />suretv. ~re held and ïrmly bound unto City, San Mateo County, California, In the penal sum of
<br />Hundrea Flfty Three Thousand Six Hundred SixtÐð11arse{$ 7S:=\ .hh:=\ nn ). lawful money
<br />of the United Stale!" being one hundred percent (100%) of the Contract amount, for the
<br />payment of which slim well and truly to be made, we bind ourselves, our heirs, executors,
<br />administrators and Sl-ccessors, jointly and severally, firmly by these presents.
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<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br />its heirs, executors, ¡:.dministrators, successors or assigns, shall in all things stand to and abide
<br />by, and will truly keep and faithfully perform the covenants, conditions, and agreements in the
<br />said Contract and ani alterations made as therein provided. on his or .thelr part, to be kept and
<br />performed at the timEt and in the manner therein specified, and in all respects accordIng to their
<br />true Intent and m~aning, and shall indemnify and save harmless City, its Council,
<br />Commissioners, boa rds. committees, officers. employees and agents, as therein stipulated,
<br />then this obligation fjhall be null and void; otherwise It shall be and remain In full force and
<br />virtue.
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<br />As a condition prs(:edent to the satisfactory completion of the said Contract, the above
<br />obligation shall hold good for a period of one (1) year after the completion and acceptance of
<br />the said work. durln!J which time if the above bounden Principal, his or its heirs, executors.
<br />administrators, suCCt"!ssors or assigns shall fall to make full. complete and satisfactory repair
<br />and replacements or totally protect the said City from loss or damage made evident during said
<br />period of one (1) yea'. from the date of acceptance of said work, and resulting from or caused by
<br />defective materials (lr faulty workmanship, in the prosecution of the work done, the above
<br />obligation shall be and remain in full force and virtue,
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<br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br />California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br />addition to the terrr s of the Contract or to the work to be performed thereunder, or the
<br />Specifications accolT,panying the same shall in any way affect Its obligations on this bond; and It
<br />does hereby waive rlotlœ of any such change, extension of time. alteration or addition to the
<br />terms of the COntract. or to the work, or to the Specifications.
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<br />FAITHFUL PERFORMANCE BOND .
<br />PROCURING AND INSTJ\lLlNG PARKING CONTROL SYSTEM
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<br />00610-1
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