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SECTION 0020']
<br /> Bond No. BE2627104
<br /> F.AJTHFUL PERFORMANCE BOND
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<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood
<br />· City("City"), San Mated County, State of California, has awarded to
<br /> S.G. Barber Construction ~ Inc. - , hereinafter designated as the
<br /> 'Principal", a Contract, the terms and provisions of which Contract are inoOrporated
<br /> herpin by reference, for constructing the following proiect:
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<br /> and
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<br /> WHEREAS, said Principal is required under the terms of said Contract to furnish a bond
<br /> for the faithful performance of said Contract;
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<br /> NOW, THEREFORE, we, the Principal, and ._Gulf It[surance Com'oan_v
<br /> as surety, are held and firmly bound unto City, San Mo'ted County, California, in the
<br /> penal sum of One hundred fort~ thousand Dollars
<br /> ($ 1~.0.000.00 ), lawful money of the United States, being one hundred percent
<br /> (100%) of the Contract amount, for the payment of which sum well and truly to be made,
<br /> we bind ourselves, our heirs, executors, administrators and successors, jointly and
<br /> severally, firmly by these presents.
<br />
<br /> THE CONDITION OF THIS OBLIGATION I$ SUCH, that if the above bounden
<br /> Principal, his or its heirs, executors, administrators, successors or assigns, shall in all
<br /> things stand to and abide by. and w~ll truly keep and faithfully perform the covenants,
<br /> conditions, and agreements in the said Contract and any alterations made as therein
<br /> provided, on his or tl~eir part, to be kept and performed at the time and in the manner
<br /> therein specified, and in all respects acco~'ding to their true intent and meaning, and
<br /> shall indemnify and save harmless City, its Council, Commissioners, boards.
<br /> committees, officers, employees and agents, as therein stipulated, then this obligation
<br /> shell be null and void; otherwise it shall be and remain in full force and virtue.
<br />
<br /> AS a condition precedent to the satisfactory completion of the said Contract, the above
<br /> obligation shall hold good for a period of one (1) year after the completion and
<br /> acceptance of the said work, during which time if the anova bounden Principal, his or its
<br /> heirs, executors, administrators, successors or assigns shall fail to make full, complete
<br /> and satisfactory repair and replacements or totally protect the said City from loss or
<br /> damage made evident during said period of one (1) year from the date of acceptance of
<br /> said work, and resulting from or caused by defective materials or faulty workmanship, in
<br /> the prosecution of the work done, the above obligation shall be and remain in full force
<br /> and virtue.
<br />
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the
<br /> provisions of California Civil Code Section 2819 regarding consent to change, extension
<br /> of time, alteration, or addition to the terms of the Contract or to the work tO be performed
<br /> thereunder or the Specifications accompanying the same shall in any way affect its
<br /> obligations on this bond; and it does hereby waive notice of any such change, extension
<br /> of time, alteration or addition to the terms of the Contract, or to the work. or to the
<br /> Specifications.
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<br /> FA[THt~UL PERFORMANCE BOND UUZ01-1
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