Agmt05 Granite Rock dba PAVEX - Laserfiche WebLink

Browse Search

PAYMENT BOND Bond # 929364125 Premium included with Performance Bond KNOW ALL MEN BY THESE PRESENTS: That we, Granite Rock Company, d.b.a. Pavex Construction Division as Principal, and, Continental Casualty Company organized and existing under the laws of the State of GðJ~I11inois , . and authorized to ex~cut~ bonds and undertaking as sole surety, as Surety. are held and firmly bound unto any and all persons named in California Civil Code Section 3181 whose claim has J!ot b¥en~aid .bK the ~ntlfrctoú gsmecfr1¥h or oorporation in the aggregate total of t35YI~r~-NòYroò ousan, ne un r uty Dollars ($ 75.130.00 ) (being 100% of the (Permit amount) for the payment whereof, well and truly to be made, said Prin~ipal and Surety bond themselve$, their heirs, administrators. successors. and assigns, jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, wherea5 the above with the City of Redwood City ("City") to do the following work for .City" issued Construction Permit, to-wit: REDWOOD SHORES LAGOON RIP-RAP REHABILITATION PROJECí NOW, THEREFORE, if the above-bound~n Principal or his subcontractors fail to pay any of the persons named in Section 3181 of the Civil Code of the State of California. or amounts due under the Unemployment Insurance Code with respect to work or labor performed under the Contract, or for any amounts required to be deducted, withheld. and paid over to the Employment Development Department from tt'le wages of employees of the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the S~te of California, with respect to such work and labor, the surety will pay for the same, in the amount not exceeding the sum specified in this bond. and also, in case suit i~ bfOUght upon this bond, a reasonable attorney's fee. to be fixed by the Court. Thi$ bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the State of California so as to give a right of action to them or their assignees in suit brought upon this bond. This bond is exeGut~d and filed to comply with the provisions of the act of the Legislature of the State of California as designated in Civil Code Sections 3247-3252, inclusive, and all amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of California Civil Code Section 2819 regarding consent to change, extension of time alteration, or addition to the terms of the Permit, or to the worK to be performed thereunder. or the SpecifiGation$ accompanying the same, shall in any way affect its obligations on thi$ bond; and it does hereby waive notice of any such change, extension of time, alteration, or addition to the terms of the Contract, or to the work, or to the Specifications. -1-