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<br />DES:djk 1 \/07/00 n M-I , <br />F:Shared/Redwood/Councill Agmt-3 70 , <br /> <br />9. 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 Contractor <br />under this Agreement. Acceptance of the bond by the City is subject to the review <br />and approval of the bond by the City Attorney's office. <br /> <br />10, 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 of <br />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 />11. 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 />12. 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 />13. 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 />IN WITNESS WHEREOF, the parties hereto have executed this Agreement <br />this day of ,2000. <br /> <br />CITY OF REDWOOD CITY, a municipal <br />corporation in the State of California <br /> <br />By <br /> <br />City Manager <br /> <br />ATTEST: <br /> <br />City Clerk <br /> <br />REPUBLIC ELECTRIC <br />7120 Redwood Blvd. <br /> <br />7 <br /> <br />,-"'.., , '-~' 'T <br />