Laserfiche WebLink
SECTION 00620 <br />PAYMENT BOND <br />KNOW ALL MEN BY THESE PRESENTS: That we, <br />BOND #12040214 <br />PREMIUM: INCLUDED WITH <br />PERFORMANCE BOND <br />SHAW PIPELINE, INC. <br />as Principal, and, THE GUARANTEE COMPANY OF NORTH AMERICA USA <br />organized and <br />existing under the laws of the State of <br />MICHIGAN ,and authorized to execute <br />bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all <br />persons named in Califomia Civil Code Section 3181 whose claim has not been paid by the <br />Contractor, company or corporation in the aggregate total of <br />"~ DOIIarS ($ 2,662,950.00 ) (being <br />100% of the Contrail amount} for the payment whereof, welt and truly to be made, said <br />Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, <br />jointly and severalty, firmly by these presents. <br />THE CONDITION OF THE FOREGOING OBLIGATION !S SUCH that, whereas the above with <br />the City of Redwood City ("City") to do the following work, to-wit: <br />REDWOOD CITY RECYCLED WATER PROJECT -PHASE 1 <br />REDWOOD SHORES DISTRIBUTION SYSTEM <br />Bid Package 4 (Redwood Shores Parkway, Airport Way, Skyway Road, Twin <br />Dolphin Drive, Electronic Arts Drive) <br />NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the <br />persons named in Section 3181 of the Civil Code of the State of Califomia, or amounts due <br />under the Unemployment Insurance Code with respect to work or labor performed under the <br />Contract, or for any amounts required to be deducted, withheld, and paid over to the <br />Employment Development Department from the wages of employees of the Contractor and his <br />subcontractor pursuant M Section 13020 of the Unemployment Insurance Code of the State of <br />California, with respect to such work and Tabor, the surety will pay for the same, in the amount <br />not exceeding the sum specified in this bond, and also, in case suit is brought upon this bond, a <br />reasonable attorney's fee, to be fixed by the Court. <br />This bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the <br />State of California so as to give a right of action to them or their assignees in suit brought upon <br />this bond. <br />This bond is executed and filed to comply with the provisions of the act of the Legislature of the <br />State of California as designated in Civil Cade Sections 3247-3252, inclusive, and all <br />amendments thereto. <br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of <br />Califomia Civil Code Section 2819 regarding consent to change, extension of time alteration, or <br />addition io the terms of the Contract, or to the work to be pertormed thereunder, or the <br />PAYMENT BOND 0062x1 <br />REDWOOD SHORES RECYCLED WATER DISTRIBUTION SYSTEM BID PACKAGE 4 <br />t <br />~~` . ~' ~ <br />"`* TWO MILLION SIX HUNDRED SIXTY TWO THOUSAND AND NINE HUNDRED FIFTY DOLLARS AND 00/100 <br />