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<br />DES:djk 03/02/99 <br />F: Shared/Redwood/Council/ Agmt-240 <br /> <br />commissions, boards, committees, officers, employees and agents shall not <br />be excess of Contractor's insurance and shall not be contributory with it. <br /> <br />8. Contractor shall provide, on the execution of this Agreement, a good and sufficient <br />corporate surety bond in the penal sum of one hundred percent (100%) of amount <br />bid, which bond shall be conditioned upon the faithful performance of all work <br />required to be performed by Contractor under this Agreement. Said bond shall be <br />liable for any and all penalties and obligations which may be incurred by <br />Contractor under this Agreement. Acceptance of the bond by the City is subject to <br />the review and approval of the bond by the City Attorney's office. <br /> <br />9. In addition to the bond required under Paragraph 9 hereof, Contractor shall furnish <br />a good and sufficient corporate surety bond in the penal sum of one hundred <br />percent (100%) of amount of bid, which bond shall conform strictly with the <br />provisions of Chapter 7, Title 15, Part 4, Division 3, of the Civil Code of the State <br />of California, and all amendments thereto. Acceptance of the bond by the City is <br />subject to the review and approval of the bond by the City Attorney's office. <br /> <br />10. Pursuant to California Public Contract Code Section 7100, the acceptance by <br />Contractor of an undisputed payment made under the terms of the Contract shall <br />operate as, and shall be, a release to City, and their duly authorized agents, from <br />all claim of and/or liability to Contractor arising by virtue of the Contract related to <br />those amounts. Disputed contract claims in stated amounts may be specifically <br />excluded by Contractor from the operation of the release. <br /> <br />11. The Contractor may substitute securities for the amounts retained by the City to <br />ensure performance of the Contract in accordance with the provisions of Section <br />22300 of the Public Contract Code. <br /> <br />12. The representations made herein, including the bidder's licensing information <br />hereinafter furnished, are made under penalty of perjury. The undersigned <br />understands that any bid not containing said licensing information, or containing <br />any information which is subsequently proven false, shall be considered non- <br />responsive, and shall be rejected by City. <br /> <br />7 <br /> <br />... .-.-.............----------.-- <br />