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ATTACHMENT F
<br />FAITHFUL PERFORMANCE BOND
<br />
<br />REV: 03-16-18 MI
<br />ATTY/AGR/2018.054/RECOLOGY OF SAN MATEO ATTACHMENT F
<br />Page 1 of 2
<br />KNOW ALL PERSONS BY THESE PRESENTS, that RECOLOGY SAN MATEO
<br />COUNTY, hereinafter called the PRINCIPAL, and
<br /> _________________________________________________,
<br />a corporation duly organized under the laws of the State of ,
<br />having its principal place of business at ,
<br />in the State of _________________, and authorized to do business as an admitted surety
<br />insurer in the State of California, regulated by the California Insurance Commissioner and
<br />with a financial condition and record of service satisfactory to the City of Redwood City,
<br />hereinafter called the SURETY, are held and firmly bound to the City of Redwood City, a
<br />municipal corporation in the State of California, hereinafter called the OBLIGEE, in the
<br />sum of One Million One Hundred Forty-Five Thousand, Eight Hundred Seven Dollars
<br />($$1,145,807) lawful money of the United States, for the payment of which, well and truly
<br />to be made, we bind ourselves, our heirs, executors, administrators and successors, jointly
<br />and severally, firmly by these presents.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH THAT:
<br />WHEREAS, the PRINCIPAL has entered into a Contract with the OBLIGEE for Recyclable
<br />Materials, Organic Materials, and Solid Waste Collection Services ("Contract") and said
<br />PRINCIPAL is required under the terms of said Contract to furnish a bond of faithful
<br />performance of said Contract.
<br />NOW, THEREFORE, if the PRINCIPAL shall well and truly perform and fulfill all of the
<br />undertakings, covenants, terms and agreements of said Contract, and any modification
<br />thereto made as therein provided, at the time and in the manner therein specified, then
<br />this obligation shall become null and void, otherwise it shall be and remain in full force and
<br />virtue.
<br />The SURETY, for value received, hereby agrees that no change, extension of time,
<br />alteration or addition to the terms of the Contract or to the work to be performed
<br />thereunder, or the specifications incorporated therein shall impair or affect its obligations
<br />on this bond, and it hereby waives notice of any such change, extension of time, alteration
<br />or addition to the terms of the Contract or to the work or to the specifications.
<br />PROVIDED, however, that the SURETY shall not be liable (1) as respects to any
<br />obligations related to said Contract occurring after two (2) years from the date of this Bond,
<br />unless this Bond is extended, or (2) with respect to PRINCIPAL'S obligation to procure a
<br />replacement performance bond, as provided for in Section 13.03 of the Contract. This
<br />Bond may be extended beyond ______________, 20__ in the sole discretion of the
<br />SURETY by means of a continuation certificate in form and substance satisfactory to
<br />OBLIGEE signed at least ninety (90) days prior to _______________, 20__.
<br />In the event suit is brought upon this Bond by the OBLIGEE and the OBLIGEE is the
<br />prevailing party, the SURETY shall pay, in addition to the sums set forth above, all costs
<br />incurred by the OBLIGEE in such suit, including reasonable attorneys' fees to be fixed by
<br />the court.
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<br />6.2.B. - Page 176
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