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Bond No. CMS 213587
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<br /> FAITHFUL PERFORMANCE BOND
<br />
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood
<br /> City("City"), Sao Mateo County, Strata of California. has awarded to
<br /> MCSi, 921 Parker Street, BerkeleyI CA 94710~ hereinafter designated as the
<br /> "Principal". a Contract, the terms and provisior,s of which Contract are incorporated
<br />herein 13y reference, for const~u,:;tin9 the following project:
<br />City Hall Council Chambers Audio Visual Systems Integration , and
<br />
<br /> WHEREA~, said Principal is required under the terms of said Contract to furnish a bond
<br /> for the faithful performance of said Contract;
<br />
<br /> NOW, THEREFORE, we, the Principal, and RLI Insurance Company
<br /> rmly o d CI M e Cou~ ¥ Ii ornia, in the
<br /> penal sum of Hum,~,'~,~ ~-ty R~¥ ~ ql/lnn ..............
<br /> ($ 125~846.91-- ). la~ul money of the United S~tes. ~ing one hundr~ parent
<br /> (I00%) of the Contract amount, for t~e payment of ~ich sum well and ~ly to be made,
<br /> we b~nd ou~elves, our heir, executors, administmtom and suc~ssors, jointly and
<br /> severally, fi~ly by ~ese presents,
<br />
<br /> ~E CONDITION OF THIS OBLIGATION IS SUCH, that if ~e above bounden
<br /> Principal. his or its heirs, exe~tom, administratom, suction or assigns, shall in all
<br /> · ings stand to and abide by, an~ well an~ t~iy keep and fatefully pedorm
<br /> covenants, ~nditions, and agreements in the s~a[d Con.ct and amy alterati~s made
<br /> as ~emin provided, on his or their pa~. to be kept and pedo~d at the time and in the
<br /> ~nner therein spoiled, and in all ms~s acceding to t~eir ~e in~nt and meaning.
<br /> and shall indemnify and ~ve ha~less Ci~, its Coundl, Commissionem, boa~s,
<br /> ~mmittees. offi~m, employees and agent, a~ therein s~ipulaled, then this obligation
<br /> sha~l be null and void; othe~isa it shall be and remain in lull force an~ vi~e.
<br />
<br /> As a condition precedent to ~e sa~sfacto~ completion of the said C~tra~, the above
<br /> obligation shall hold go~ for a pe~od o~ or~e (1) year aRer Ihe ~mpletion and
<br /> acceptance of the ~id work, dufin~ ~i~ time i'l the above bounden Prindpal, his or its
<br /> heirs, executom, adminis~atom, successors or ~ssigns shall fail to make full. ~mplete
<br /> and satisfacto~ repair, and mpla~menls or to'tally prote~ t~e ~ld CI~ ~m Io~ u~
<br /> damage made evident during said peri~ of one (1) year from the date of a~ptan~ of
<br /> ~id wo~, and resulting from or ~used by defedive materials or faulty work~nship, in
<br /> the prosecution of ~e work done. the above obhgation shall be and re.in in full forou
<br /> and vi~ue.
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<br /> A~d the said Surety. for value receiveO, hereby stipulates and agrees to waive the
<br /> provisions of California Civil ~de Section 2819 ~'egard[ng consent to ~ange, extension
<br /> of time, alte~tion, or addition to the terms of ~e Contract or to the wo~ to be petered
<br /> thereunder or ~e Spedfi~tions accompanying ~e same small In any wise afl. ct it~
<br /> obligations on this bond; and il d~s hemb~ waive noti~ of any such ~ange, extension
<br /> of time, alteration or addison to the te~s of ;~he Contract, or to ~e wo~, or to
<br /> Specifications.
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