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<br />DES:djk OS/29/98 <br />F:SharedIRedwoodlCoWlcill Agmt-159 <br /> <br />which bond shall be conditioned upon the faithful performance of all work required to be <br />performed by Contractor under this Agreement. Said bond shall be liable for any and all <br />penalties and obligations which may be incurred by Contractor under this Agreement. <br />Acceptance of the bond by the City is subject to the review and approval of the bond by <br />the City Attorney's office. <br /> <br />10. In addition to the bond required under Paragraph 9 hereof, Contractor shall furnish a <br />good and sufficient corporate surety bond in the penal sum of one hundred percent <br />(100%) of amount of bid, which bond shall conform strictly with the provisions of <br />Chapter 7, Title 15, Part 4, Division 3, of the Civil Code of the State of California, and <br />all amendments thereto. Acceptance of the bond by the City is subject to the review and <br />approval of the bond by the City Attorney's office. <br /> <br />11. Pursuant to California Public Contract Code Section 7100, the acceptance by Contractor <br />of an undisputed payment made under the terms of the Contract shall operate as, and <br />shall be, a release to City, and their duly authorized agents, from all claim of and/or <br />liability to Contractor arising by virtue of the Contract related to those amounts. <br />Disputed contract claims in stated amounts may be specifically excluded by Contractor <br />from the operation of the release. <br /> <br />12. The Contractor may substitute securities for the amounts retained by the City to ensure <br />performance of the Contract in accordance with the provisions of Section 22300 of the <br />Public Contract Code. <br /> <br />13. The representations made herein, including the bidder's licensing information hereinafter <br />furnished, are made under penalty of perjury. The undersigned understands that any bid <br />not containing said licensing information, or containing any information which is <br />subsequently proven false, shall be considered non-responsive, and shall be rejected by <br />City. <br /> <br />IN WITNESS ~OF' the parties hereto have executed this Agreement <br />this (}..j) day of , 1998. <br />CITY OF REDWO CITY, a municipal <br />corporatio . t S e of Cali rnia <br /> <br />By <br /> <br /> <br />ATTEST: <br /> <br /> <br />SPIESS CONSTRUCTION CO., INC. <br />P.O. Box 2849 <br />Santa Maria, CA 93457 <br />(805) 937-5859 ~ <br />By~q <br /> <br />~{"'ntt A. <br /> <br />rnlp~n. A.~~t. vi{"'p-President <br />(Title) <br /> <br />7 <br />