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<br />DES:dj~ 04/29/96 <br /> <br />(006/70) <br /> <br />Said <br /> <br />bond <br /> <br />shall <br /> <br />be <br /> <br />liable <br /> <br />for <br /> <br />any <br /> <br />and <br /> <br />all <br /> <br />penalties <br /> <br />and <br /> <br />obligations <br /> <br />which <br /> <br />may <br /> <br />be <br /> <br />incurred <br /> <br />by <br /> <br />Contractor <br /> <br />under <br /> <br />this <br /> <br />agreement. <br /> <br />Acceptance of the bond by the City is subject to the <br /> <br />review and approval of the bond by the City Attorney's office. <br /> <br />10. <br /> <br />In addition to the bond required under Paragraph 9 <br /> <br />hereof, Contractor shall furnish a good and sufficient corporate <br /> <br />surety bond in the penal sum of one hundred percent (100%) <br /> <br />of <br /> <br />amount <br /> <br />of <br /> <br />bid, <br /> <br />which <br /> <br />bond <br /> <br />shall <br /> <br />conform <br /> <br />strictly <br /> <br />with <br /> <br />the <br /> <br />provisions of Chapter 7, Title 15, Part 4, Division 3, of the <br /> <br />Civil <br /> <br />Code <br /> <br />of <br /> <br />the <br /> <br />State <br /> <br />of <br /> <br />California, <br /> <br />and <br /> <br />all <br /> <br />amendments <br /> <br />thereto. <br /> <br />Acceptance of the bond by the City is subject to the <br /> <br />review and approval of the bond by the City Attorney's office. <br /> <br />ll. <br /> <br />Pursuant <br /> <br />to California Public <br /> <br />Contract Code <br /> <br />Section <br /> <br />7100, the acceptance by Contractor of an undisputed payment made <br /> <br />under the terms of the contract shall operate as, and shall be, a <br /> <br />release to City, and its duly authorized agents, from all claim <br /> <br />of <br /> <br />and/or <br /> <br />liability <br /> <br />to <br /> <br />Contractor <br /> <br />arising <br /> <br />by <br /> <br />virtue <br /> <br />of <br /> <br />the <br /> <br />contract related to those amounts. <br /> <br />Disputed contract claims in <br /> <br />stated amounts may be specifically excluded by Contractor from <br /> <br />the operation of the release. <br /> <br />12. <br /> <br />The Contractor may substitute securities for the amounts <br /> <br />retained by the City to ensure performance of the contract in <br /> <br />accordance with the provisions of Section 22300 of the Public <br /> <br />Contract Code. <br /> <br />13. <br /> <br />The representations made herein, including the bidder's <br /> <br />licensing <br /> <br />information <br /> <br />hereinafter <br /> <br />furnished, <br /> <br />are <br /> <br />made <br /> <br />under <br /> <br />penalty of perjury. <br /> <br />The undersigned understands that any bid not <br /> <br />13 <br /> <br />".- '... <br />