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<br />Bond No. F17203
<br />SECTION 006111
<br />FAITHFUL 'PERFORMANCE BOND
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<br />KNOW AU MEN BY THESE PRESENTS~ that. WH'EREAS, the City of' Redwq,Q:d City("C~,
<br />$an M~~ CQunty, $~~~ of Ca[(fOTJlla, ttas award~ to
<br />Corrrro Companies, Inc. , hereinafter desigf\a1eq as the
<br />lIPrirn.-:ipaf", ;a Contract, tn~ terms and prpvision~of which Contract 'are 'incorporated herei,n by.
<br />r.ef~oant~ f9r, co~cting the f.pILQvv:mg projec.t
<br />'CATHODlC; PROTECTION sYSTEM UPGRADES FOR tHE TOPAZ ANO ReOWOOD
<br />SHO:RES WATER TRANSMISSION :PIPEUNE$
<br />and
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<br />WliERE,AS, said Prinoipal is required under the terms of s~id Contract. ~ furnish a bond for the
<br />fpjtnt'~.d perfor~nce 'qf ~jdOOntraC(i;
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<br />NOWr, THEREFORE. we, the Principal, and ACSTAR Insurance Company > as
<br />sure'tY, ate help qnd firmly bound unto City, San Mateo Cou.nty, C;al1romia. in the. pen~] sum of
<br />Five Hundred Twenty Nine Thousand & 00/100 Don~fs, (~' 529,000.00 )t lawful maney
<br />of the tJr1ited State~ being one hundred percent (1'OU%)of t~~ Contract amotlm. far the
<br />payment of Which S1Jm w(illl and truly to be made, We ~ind Qurselv~~, qur hei~, ~xe~utcfs~
<br />aqtninistrators and succ.eSSO(St Jointly and severaUy, firmly. by these presents.
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<br />llIE GONDITION OF THl$ OB4GATION IS SUCH, that if the above b.ot.mden Principal, his or
<br />tts h'~jrs, execut~rs, ar;irninistr:at~:)rs. ~u~cessors Qi as,signS, $alI in aU tl'lings stand tc> ;and 'abide
<br />by. ;and W'W tl1Jly keep and faithfuUy pe.rfotm the covenants, conditionsj and agreements in the
<br />said Contract anq any alterations made as therein pTo~ided. an hi$ Of their part, t,o be kept and
<br />performe4 ~t th~ titrte and in the mannsr thereJrr ~pe,cifteo, .and in aH r.espe~ according tQ their
<br />true intent 'and meaning, and shall indemnify and save ha-rrnless' City, its CO'Uncft\
<br />Camm(sstone~, buar$, committe~s, offiG~rs. 'emptoyees and agents~ ~ therein stip.~ated.
<br />then this opng~tipn ~halI be olJlI and void: otherwis.e it Shall f:le ~od remaln U1 fulJ force and
<br />virtue_ '
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<br />As a c'Omfitlon prece~nt 'to the ~~tisfaqory completion of the said Contrpcl, the ,al;>ove
<br />'Obllga~ion shall h-afd gOOd for a p.e:riod of ,ore (1) year after the campletlen and acceptance af
<br />the said work, during which time if the above bounden Principal, his or its heirs, e'Xe,cutprs.,
<br />admInistrators.. sucq,essors or assigns sh;;aIl fail to make fun~ complete and satisfactory rep~q-
<br />and l',epIFlcements.' Of totally protect the s,aiq City from toss or damage made evident during said
<br />p.eriod of one (1} y.earfrom the date of acceptance of said work, and resulting from or caused by
<br />defedhte mat~al:s or faulty workmanship, in, th,e prp~cupon of the work dom~. the abo,ve
<br />QPIig~,on'shaff be and r~l'nain in full force and Vi~-
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<br />And tRe said Surety, for value re'GeJ\led, hereby stipulates a,l'ld agrees to waive the provi'sions pf
<br />eaOfam.ic) Civil Codj;lo Section 2819 r~gardjng cons-ertt to chG?r\g~, ,extenSion of time, alteration, elr
<br />a'ddjtion to tile terms of the Contract or to the work to be performed thereunder, ,or the
<br />Specifications accompanying the same shall in any way affect its obligations on this bond; and it
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<br />FAITHFUL. PERF9RMANCE BONO 00610-1
<br />CATHODIC PROTECllpN'SYSTEM UPGRADES - TOPAZ AND RWS WATER TAANSM1SSIO[l.l ?IPEWNES
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