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<br />Nine
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<br />. Bond No. 908902
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<br />Premium:$12,995.00
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<br />FAITHFUL PERFO.RMANCE BOND
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<br />KNOW ALL MEN BY THESE PRES~NTS: that, WHEREAS, the City of Redwood City("City"),
<br />San Mateo County, State of California, has awarded to
<br />Peak Enoineerino. Inc , hereinafte.r designated as the
<br />"Principal", a Contract. the terms and provisions of which Contract are incorporated herein by
<br />reference, for constructing the following project:
<br />
<br />REDWOOD CITY RECYCLED WATER PROJECT - PHASE 1
<br />SA YFRONT DISTRIBUTION SYSTEM, Bid Package 8 (East Bayshore Road, Salr Island
<br />Road, Redwood Creek, Highway 101, and Maple Street)
<br />
<br />and
<br />
<br />WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br />faithful performance of said Contract;
<br />
<br />NOW, THEREFORE, we, the Principal, and Financial Pacific InsurancCo~PNY
<br />$uretv, are eld and firmly ~ound unto. City. San Mateo County, California, in the penal sum of
<br />una~!d or Y 0 e ~h sand Dollars ($ q 4 q 4 C; 0 00 ). lawful money
<br />of the United States, being one hundred percent (1000/0) of the Contract amount. for the
<br />payment of which sum well and truly to be made, we bind ourselves, our heirs, executors,
<br />administrators and successors, jointly and severally, firmly by these presents.
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<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, ~nd will truly keep and faithfully perform the covenants, conditions, and agreements In the
<br />said Contract and 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 specified, and in all respects according to their
<br />true intent and meaning, and shall indemnify and save harmless 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 force and
<br />virtue.
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<br />As a condition precedent to the satisfactory completion of the said Contract, the above
<br />obligation shall hold good for a period of orie (1) year after the completion and acceptance of
<br />the said work, during which time if the above bound~n 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 resulting 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 and virtue.
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<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, ext$nsion of time, alteration, or
<br />addition to' the terms of the Contract or to the work to be performed thereunder, or the
<br />Specifications accompanying the same Shall in any way affect its obligations on this bond: and it
<br />does hereby waive notice of any such change, e.xtension of time, a.lteration or addition to the
<br />terms of the Contract, or to the work, or to the Specifications.
<br />
<br />In the event City, or its successors or assigns, shall be the prevailing party in an action brought
<br />up.on this bond, then, in addition to the penal sum hereinabove speciffed, we agree to pay to the
<br />
<br />BAYFRONT RECYCLED WATER DISTRIBUTION SYSTEM, BID PACKAGe a
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