Agmt06 Valley Slurry Seal Compa - Laserfiche WebLink

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.---..--...-.- --- Bond No: 029QO 597Q ---- Preniun: Included in PerYoruance Bond SECTION 00620 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we,- ~~~! Sl~rry Seal CoBpan!--- as Príncipal, and, ~e5tern Surety Company organized and existing lIhder the laws of the State of California . -T and authorized to execute bonds and undertaking as 50le surety, as Surety, are held and firmly bound unto any and all pí3rsons named in California Civil Code Section 3181 whose claim has not been paid by the Contractor, company or corporation in the aggregate total of - Six Hundred Thity, Three Thousand. Four Hundred * Dollars ($ 633..65.3Q ) (being 100% of the Contract amount) for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs, admínistrators, successors, and assigns, jointly and severally, firmly by these presents. * Sixty Five Do)¡lerø.ønd Thirty Four Cents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with tt'18 City of Redwood City ("City") to do the following work, to-wit: 2005-2006 SLURRY SEAL PROJECT NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the persons named in Section 3181 of the Civil Code of tl1e State of California, or amounts due under the Unemployment Insurance Code with respect to work or labor performed under the ContréJci, 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 sLlbcontractor pLlfsuant 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 sLIm specified in this bond, and also, in case suit is brought upon this bond, a reasonable attorney'sfee, to be fixed by the Court. This bond shflll inure to the benefit of any person named in Section 3181 of the Civil Code of the State of Ca1ifornia so as to give a right of action to them or their assignees in suit brought upon t1')is 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 Calìfornla Civil Code Section 2819 regardìng consent to change, extension of time alteration, or addition to the terms of the Contract, or to the work to be performed thereunder, or the Specifications accompanying the same, shall in any way affect its obligations on this 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. 00620-1 PAYMENT OOND 2005--2006 SI_URr{Y SEAL PROJECT --,-".._-_.~ .--"'-----~._.,-'-------' "'-"" .-......----......-.......-.................-- .,-..--- ..-.------..----------