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<br />Bond No: 929.0 597.
<br />Prenium: 81.900.00
<br />
<br />SECTION 00610
<br />FAITHFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood Cìty (IiCity") ,
<br />San Mateo County, State of Ca1îfornia, has awarded to
<br />"'y!!!!!~..tl!~~l ~ny , hereinafter designated as the
<br />"Principal", a Contract, the terms and provisions of which Contract are incorporated herein by
<br />reference, for constrL¡cting the following project:
<br />
<br />2005~2006 SLURRY SEAL PROJECT
<br />
<br />and
<br />
<br />WHERËAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br />faithful performance of said Contract;
<br />
<br />NOW, THEREFORE, we, the Principal, and "estern Surety Company , as
<br />surety, are held and firmly bound unto City, San Mateo county, California, in the penal sum of
<br />Si~~~~irty Three Thousand. Four Hundred * Dollars ($ 633..65.3. ). lawful money
<br />of the United States, being one hundred percent (100%) of the Contract amount, for the
<br />payment of which sum well and truly to be made, we bind ourselves, our heirs, executorst
<br />administrators and successors, jointly and severally, firmly by these presents.
<br />.Sixty Five Dollars and Thirty Four Cents.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br />its heirs¡ executors, administrators, successors or assigns, shall in all things stand to and abide
<br />by, and will truly keep and faithfully perform the covenants, conditions, and agreements in the
<br />said Contract and any alterations made as therein provided, on his or their part, to be kept and
<br />performed at the time and in the manner therein specified, and in an respects according to their
<br />true intent and meaning, and shaH indemnify and save harmless City, its Council,
<br />Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br />then this obligation shall be null and void; otherwise it shan be and remain in full force and
<br />virtue.
<br />
<br />As a condition precedent to the satisfactory completion of the said Contract, the above
<br />obligation shaH hold good for a period of one (1) year after the completion and acceptance of
<br />the s~ìd work, during which time if the above bounden Principal, his or its heirs, executors,
<br />administrators, sLiccessors or assigns shall fail to make fun, complete and satisfactory repair
<br />and replacements or totally protect the said City from loss or damage made evident during said
<br />period of one (1) year from the date of acceptance of said work, and resulting from or caused by
<br />defective materials or faulty workmanship, in the prosecution of the work done, the above
<br />obngation shall be and remain in full force and virtue.
<br />
<br />And tile said Surety, for vallie received, hereby stipulates and agrees to waive the provisions of
<br />Cûlìfornia Civil Code Section 2819 regarding consentto change, extension of time, alteration, or
<br />addition to the terms of the Contract or to the work to be performed thereunder, or the
<br />Sp(?cifications accompanying the same shall in any way affect its obligations on this bond; and it
<br />does hereby waive notice of any such change, extension of time, alteration or addition to the
<br />terms of the Contract, or to the work, or to the Specifications.
<br />
<br />FAlìHFUL PERFOHMANCE BOND
<br />2005..2006 SLURRY SEAL PROJECT
<br />
<br />00610-1
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