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BOND #12040214
<br />SECTION 00610 PREMIUM: $28,885.00
<br />FAITHFUL PERFORMANCE BOND
<br />KNOW ALL iIAEN BY THESE PRESENTS: that, WHEREAS, the City of Redwflod C'Ity ("City"},
<br />San Mateo County, State of Catifomia, has awarded to,
<br />SHAW PIPELINE, INC. hereinafter designated as the
<br />"Principal", a Contract, the terms and provisions of which Contract are incorporated herein by
<br />reference, for constructing the following project:
<br />REDWOOD CITY RECYCLED WATER PROJECT -PHASE 1
<br />REDWOOD SHORES DISTRIBUTION SYSTEM
<br />Bid Package 4 (Redwood Shores Parkway, Airport Way, Skyway Road, Twin
<br />Dolphin Drive, Electronic Arts Drive)
<br />and
<br />WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br />faithful performance of said Contract;
<br />THE GUARANTEE COMPANY OF
<br />NOW, THEREFORE, we, the Principal, and NORTH AMERICA USA as
<br />surety, are held and firmly bound unto City, San Mateo County, California, in the penal sum of
<br />*• Dollars ($ 2,662,950.00 ) ,lawful money of
<br />the United States, being one hundred percent {10U%) of the Contract amount, far the payment
<br />of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators
<br />and successors, jointly and severally, firmly by these presents.
<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 aril 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 speafied, and in all respects according to their
<br />true intent and meaning, and shall indemnify and save harm~ss 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 shall be and remain in full farce and
<br />virtue.
<br />As a condition precedent to the satisfactory completion of the said Contract, the above
<br />obligation shad hold good for a period of one {1) year after the completion and acceptance of
<br />the said work, during which time if the above bounden Principal, his or its heirs, executors,
<br />administrators, successors or assigns shall fail to make full, 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 resumng from or caused by
<br />defective materials or faulty workmanship, in the prosecution of the work done, the above
<br />obligation shall be and remain in full force anc! virtue.
<br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br />California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br />FAITHFUL PERFORMANCE BOND 00610-1
<br />REDWOOD SHORES RECYCLED WATER DISTRIBUTION SYSTEM BID PACKAGE d
<br />""" TWO MILLION SIX HUNDRED SIXTY TWO THOUSAND AND NINE HUNDRED FIFTY DOLLARS AND 00/100
<br />
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