|
<br />,.<
<br />
<br />'"
<br />
<br />BondN'o.929240454
<br />PrEmium $1,250.00
<br />
<br />FAITHFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS. the City of Redwood
<br />City{"City'"), San Mateo County, State of California. has awarded to
<br />Western States SurfacinG Inc. ' hereinafter designated as the
<br />'"Principal'". a Contract, the terms and provisions of which Contract are inccrporated
<br />herein by reference, for ccnstructing the following project.
<br />2001 - 2002 Asphalt Rubber Chip Seal Proiect , and
<br />
<br />WHEREAS, said Principal is required under the terms of said Contract to furnish a bond
<br />for the faithful performance of said Contract;
<br />
<br />NOW, THEREFORE, we, the Principal, and National Fire In<lIrrinrØ rn~oany of J.I~ptford
<br />as surety, are held and Iirmlu YhhRunrl( unto CilvthSan MateohCountv, California. in the
<br />".'(j(¡' ' 0 ot~ slxteerĊ¸ ousand elg f hunfed thirty
<br />penal sum of two doll~r5 aRB ei~t~ d"g ce.,ts Dollars
<br />($ 416 R37 R7 ). lawful money of the ni e tates, 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 SUCCE!SSOrS, jointly and
<br />severally, firmly by these presents.
<br />
<br />THE CONOITION OF THIS OBLIGATION IS 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 well and truly keep and faithfully perform the
<br />covenants, conditions, and agreements in the said Contract and any alterations made
<br />as therein provided. on his or their part, to be kept and performed at the time and in the
<br />manner therein specified, and in all respects according to their true intent and meaning,
<br />and shall indemnify and save harmless City, its Council, Commissioners, boards,
<br />committees, officers, employees and agents, as therein stipulated, then this obligation
<br />shall 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 />obiigatlon shall hold good for a period of one (1) year after the ccmpletion and
<br />acceptance of the said work, during which time if the above 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 frorn 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 wise 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.
<br />
<br />-1-
<br />
|