Agmt06 K J Woods Construction - RWC Recycled Water Phase 1 Bid Pkg 2

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SECTION 00620 Bond No.: 2827971 Premium: Included in Performance Bond PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, K. J. Woods Construction. Inc. as Principal, and, Great American Insurance Company organized and existing under the laws of the State of ~~XXX Ohio . and authorized to execute 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 not been paid by the Contractor, company or corporation in the aggregate total of Three million one htmdred twenty four thousand and m/100 Dollars ($3,124,000. 00 ) (being 100% of the Contract amount) for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents THE CONDITION Of THE FOREGOING OBLIGATION IS SUCH that, whereas the above with the City of Redwood City ("City") to do the following work, to-wit: REDWOOD CITY RECYCLED WATER PROJECT - PHASE 1 REDWOOD SHORES DISTRIBUTION SYSTEM Bid Package 2 (Marine Parkway, Oracle Parkway, Twin Dolphin Drive, Shoreline Drive) NOW, THEREFORE, if the above-bounden Principal or his subcontractors fall 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 the wages of employees of the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the State 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 is brought upon this bond, a reasonable attorney's fee I to be fixed by the Court This 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 executed 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 PAYMENT BOND REDWOOD SHORES RECYCLED WATER DISTRIBUTION SYSTEM BID PACKAGE 2 00620-1