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FXS:djk 09/07/99 f~ ~.aredlRedwood/Councill Agmt - 290 Council, commissions, boards, committees, officers, employees and Agents, and further providing that any insurance or self-insurance maintained bY City for itself, its Council, commissions, boards, committees, officers, employees and agents shall not be excess of Contractor's insurance and shall not be contributory with it. 9. Contractor shall provide, on the execution of this Agreement, a good and sufficient corporate surety bond in the penal sum of one hundred percent (1O0%) of amount bid, which bond shall be conditioned upon the faithful performance of all work required to be performed by Contractor under this Agreement. Said bond shall be liable for any and all penalties and obligations which may be incurred by Contractor under this Agreement. Acceptance of the bond by the City is subject to the review and approval of the bond by the City Attorney's office. 10. In addition to the bond required under Paragraph 9 hereof, Contractor shall furnish a good and sufficient corporate surety bond in the penal sum of one hundred percent (100%) of amount of bid, which bond shall conform strictly with the provisions of Chapter 7, Title 15, Part 4, Division 3, of the Civil Code of the State of California, and all amendments thereto. Acceptance of the bond by the City is subject to the review and approval of the bond by the City Attorney's office. 11. Pursuant to California Public Contract Code Section 71O0, the acceptance by Contractor of an undisputed payment made under the terms of the Contract shall operate as, and shall be, a release to City, and their duly authorized agents, from all claim of and/or liability to Contractor arising by virtue of the Contract related to those amounts. Disputed contract claims in stated amounts may be specifically excluded by Contractor from the operation of the release. 12. The Contractor may substitute securities for the amounts retained by the City to ensure performance of the Contract in accordance with the provisions of Section 22300 of the Public Contract Code. 13. The representations made herein, including the bidder's licensing information hereinafter furnished, are made under penalty of perjury. The undersigned understands that any bid not containing said licensing information, or containing any information which is subsequently proven false, shall be considered non-responsive, and shall be rejected by City. IN WITNESS WHEREOF, t~~ p9Ifies hereto have executed this Agreement this ~~ day of ~)ca~ ,1999. CITY OF REDWOOD CITY, a municipal corporation in the State of California 7 ,......,.....-..-...... ...,..._......"..,..__........._~.__..