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]~NO.: 0323329
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<br /> PAYMENT BOND
<br />
<br />KNOW ALLMENBYTHESEPRESENTS:Thatwe, St~W PIPELINE,
<br />
<br />as Principal, and, INTERNATIONAL FIDELITY INSURANCE COMPANY
<br />organized and existing under the laws of the State of California
<br /> , and authorized to
<br />execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto
<br />any and all persons named in California Civil Code Section 3181 whose claim has not
<br /> n ' y o n r ation in tho aggregate total of
<br />F, TGHT ~r~T~n 'P~T~q~'-IqT~J~.. Aka'i% nn?nn ($ 1,444,839.00 )
<br />(being 100% of the Contract amount) for the payment whereof, well and truly to be
<br />made, said Principal and Surety bond themselves, their heirs, administrators,
<br />successors, and assigns, jointly and severally, firmly by these presents.
<br />
<br />THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the
<br />above with the City o'~ Redwood City ("City") to do the following work, to-wit:
<br />
<br />NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any
<br />of the persons named in Section 3181 of the Civil Code of the State of California, or
<br />amounts due under the Unemployment Insurance Code with respect to work or tabor
<br />performed under the Contract, or for any amounts required to be deducted, withheld, and
<br />paid over to the Employment Development Department from the wages of employees of
<br />the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment
<br />Insurance Code of the State of California, with respect to such work and labor, the surety
<br />will pay for the same, in 'the amount not exceeding the sum specified in this bond, and
<br />also, in case suit is brought upon this bond, a reasonable attorney's fee, to be fixed by
<br />the CourL
<br />
<br /> This bond shall inure to the benefit of any person named in Section 3181 of the Civil
<br /> Code of the State of California so as to give a right of action to them or their assignees
<br /> in suit brought upon this bond.
<br />
<br /> This bond is executed and filed to comply with the provisions of the act of the
<br /> Legislature o! the State of California as designated in Civil Code Sections 3247-3252,
<br /> inclusive, and all amendments thereto.
<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 to the terms of the Contract, or to the work to be performed
<br /> thereunder, or the Specifications accompanying the same, shell in any way affect its
<br /> obligations on this bond; and it does hereby waive notice of any such cinange, extension
<br /> of time, alteration, or addition to the terms of the Contract, or to the work, or to the
<br /> Specifications.
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