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<br />Bond #1000814456
<br />Premium: $3,884.00
<br />
<br />FAITHFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that. WHEREAS. the City of Redwood
<br />City("City'.). San Mateo County. State of California, has awarded to
<br />McNabb Construction. Inc. cilia: DK EnviroT1JTlPnt-.at1ereinafter designated as the
<br />I'Principal", a Contract, the terms and provisions of which Contract are incorporated
<br />herein by reference, for constructing the following project:
<br />
<br />LOWER STULSAFT PARK PREFABRICATED RESTROOM BUILDING
<br />REPLACEMENT PROJECT
<br />
<br />and
<br />
<br />WHEREAS, said Principal is required under the terms of said Contract to furnish a bond
<br />for the faithful performance of said Contract:
<br />
<br />NOW, THEREFORE, we, the Principal, and Arrerican Contractors Indemnity, Company
<br />as surety, are held and firmly bound unto Ci~, San Mateo County, California, in the
<br />penal sum. of One hundred forty four thousand ty,TQ* Dollars
<br />($ 144,200.00 ). iawful money of the United States. 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 successors. jointly and
<br />severally, firmly b.ythesepre~ents. *hundred and no/100--~---:-----
<br />
<br />THE CONDITION OF THIS OBLIGATION IS SUCH. that if the above bounden Principal.
<br />his or its heirs, executors, administrators. successors or assjgns, shall in all things stand
<br />to and abide by. and will truly keep and faithfully perform the covenants, conditions. and
<br />agreements in the said Contract and any alterations made as therein provided, on his or
<br />their part, to be kept and performed at the time and in the manner therein specified, and
<br />in all respects according to their true intent and meaning, and shall indemnify and save
<br />harmless City, its Council, Commissioners, boards, committees, officers, employees and
<br />agents, as therein stipulated, then this obligation shall be null and void; otherwise it shall
<br />be and remain in fullfor~e and virtue.
<br />
<br />As a condition precedent to the satisfactory completion of' the said Contract, the above
<br />obligation shall. hold. .good for. a period of one (1) year .after . the completion and
<br />acceptance of the s~id work, during which time if the above bounden JPrinc;;pal, 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. from loss or
<br />damage made evident during said period of ~ne (1) year from the date of acceptance of
<br />said work, and. resulting from or cau,sed. by defectiv~ materials or faulty workmanship, in
<br />the prosecution of the work done, the above ob~igation 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 tothe-terms of the Contract or to the work to be performed
<br />thereunder, or th,eSpecifications accompanying the same shall in any way affect its
<br />obligations on thjs ~n~: a"d it does hereby waive notice of any such change. extension
<br />
<br />LOWER STULSAFT PARK PREFABRICATION RESTROOM BUILDING REPLACEMENT PROJECT
<br />
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