Agmt02 S. G. Barber - Laserfiche WebLink

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Gulf Insurance Grou BOND NUMBER BE2627098 PREMIUIvl:$ 425.00 KNOWN ALL MEN BY THESE PRESENTS: THAT S. q. BARBER CONSTRUCTION, INC. (hereinafter called principal), as Principal, and the Gulf Insurance Company, a corporation of the State of Missouri with its principal Office in San Diego, Ca ( hereinafter called Surety), as Surety, are held and firmly bound unto CITY OF REDWOOD CITY ,(hereina~er called Obligee), in the full and just sum of ,qEVENTEEN THOUSAND DOLLARS (~-7,000.00, To the payment of which sum, well and truly to be made, the Principal and surety bind themselves, their and each of their heirs, executors, adminisUators, successors and assigns, jointly and severally, firmly by these presents. Signed, sealed and dated this 4 TH day of JUNE 20 0 2 WHEREAS, the Principal has entered into a certain written contract, dated the 6 TH day of MAY 20 02~ith the Obligee for 2001-2002 STREET LIGHT CIRCUIT CONVERSION NOW ,THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, That, ffthe Principal shall indemnify the Obligee against any and all loss or damage directly arising by reason of the failure of the Principal to faithfully perform said contract, then this obligation shall be void; other,,vise to remain in full force and effect. This bond is executed and accepted upon the folloxv~ng express conditions precedent: 1. That the Obligee shall faithfully and punctually perform all the terms and conditions of said contract to be performed by the Obligee, 2 That if the Principal skail abandon said contract or be la~Tully compelled by reason of a default to cease operations thereunder, the Sure~' shall have the right at its option to complete said contract or to sublet the completion thereof. 3 That the Obligee shall notify the Sure~- by registered letter, addressed and mailed to it at its Principal Office, of an)' breach of said contract ~ithin a reasonable time after such breach shall have come to the knowledge of the Obligee. or the Acchitect, or En~neer 4 That the Sure~' shall not be liable for any provisions of the contract or specifications respecting guarantees of efficiency or wearing qualities, of for the maintenance of repairs, nor is the Sureg' obligated to furnish an)' other bond covering such provisions of the contract specifications 5 All suits at [aw or proceedings in equi9' to recover on this bond must be instituted ~ithin tx~elve months after the completion of said contract, and in an)' exent ~ithin twelve months form the date fixed in said contract for its completion Principal Wimess By STEVE BARBERt~C]~O~ Gulf Insurance C.~.~ ~ ~