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80nd No. 887508 Premium: Included on Performance 80nd SECT'ON 00620 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, SpenCon Construction, Inc. as Principal. and, existing under Contractors Bonding and Insurance Company the Jaws of th e organized and State of California , and authorized to execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and aU persons named in California Civil Code Section 3181 whose claim has not been pard by the Contractor, company or corporation in the aggregate total of Seven Hundred Twelve Thousand Nine Hundred Twenty and 00/100 Dollars ($ 712.920.00 ) (being 100% of the Contract amount) for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and severa"y, firmly by. these presents. THE CONDITION OF THE FOREGOING OBLIGA nON IS SUCH that. whereas the above with the City of Redwood City ("City") to do the following work, to-wit 2009M2010 TREE PRESERVATION AND SIDEWALK REPLACEMENT PROGRAM NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the persons named in Section 3181 of the Civil Code of the State of California, or amounts due under the Unemployment 'nsurance Code with respect to work or tabor performed under the Contract. or for any amounts required to be deducted,. withheld, and paid over to the Employment Development Department from the wages of employees of the Contractor and his subcontractor 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 rs brought upon this bond. a reasonable attorney's fee, to be fixed by the Court. This bond shalf inure to the benefit of any person named in Section 3181 of the CivU Gode of the State of California so as to give a rjght of action to them or their assignees in suit brought upon this bond. This bond is executed and filed to comply with the provisions of the act of the Legislature of the State of California as designated in Civif Code Sections 3247-3252, inclusive, and all amendments thereto. And fhe said Surety, for value received. hereby stipulates and agrees to waive the provisions of California Civil Code Section 281 9 regarding consent to change. extension of time alteration, or addition to the terms of the Contract. or to the work to be perfonned thereunder, or the Specifications accompanying the same, shall in any way affect its obligations on this bond; and it does hereby waive notice of any such change. extension of time, alteration. or addition to the terms of the Contract, or to the work. or to the Specifications. PAYMENT BOND 2009-2Q10 TREE PRESERVATION AND SIDEWALK REPLACEMENT PROJECT 00620-1