Agmt19 Crown Castle Fiber, LLC - Laserfiche WebLink

Browse Search

PAYMENT BOND Crown Castle Fiber LLC, a New York limited liability company ("Company"), and [NAME OF SURETY BOND PROVIDER], organized and existing under the laws of the State of [STATE OF SURETY BOND PROVIDER'S INCORPORATION/FORMATION] ("Surety"), are authorized to execute bonds and undertaking as sole surety are held and firmly bound unto the City and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of work under the Agreement and Associated permits who are referred to in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California whose claim has not been paid in the aggregate total of Fifty Thousand Dollars ($50,000) (being 100% of the amount required by Section 4.1(b) of the Agreement for the payment to be made, said Company and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the Company and the City have entered into that certain Encroachment Agreement dated . 20_ ("Agreement") pursuant to which Company may apply for one of more wireless encroachment permits ("Associated Permits") to perform certain work in the City's Public Way, which work will be performed subject to the terms of the Agreement and any Associated Permit. NOW, THEREFORE, if the Company or its subcontractors fail to pay any of the persons named in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California, or amounts due under the Unemployment Insurance Code with respect to work or labor performed under the Agreement and any Associated Permits, or for any amounts required to be deducted, withheld, and paid over to the Employment Development Department pursuant 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 sum specified in this bond, and also, in case suit is brought upon this bond, a reasonable attorney's fee, to be fixed by the Court. This bond shall inure to the benefit of any person entitled to file claims under Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California of the Civil Code of the State of California so as to give a right of action to them or their assignees in suit brought upon this bond. This bond is executed and tiled to comply with the provisions of the act of the Legislature of the State of California as designated in Civil Code Sections 9550-9566, inclusive, and all amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of California Civil Code Section 2819 regarding consent to change, extension of time alteration, or ATTY/AGR/2019.105/CROWN CASTLE FIBER, LLC REV: 04-23-19 DZ Page 20 of 21