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<br />J*
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<br />Bond Number: 12061566
<br />Premium: $4,730.00
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<br />FAITHFUL PERFORMANCE BOND
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<br />KNOW ALL MEN BY THESE PRESENTS: that) WHEREAS. the City of Redwood City("Citi'),
<br />San Mateo County, State of California, has awarded to
<br />J & M, Inc. 1 hereinafter designated as the
<br />nprincipallJ, a Contract, the terms and provisions of which Contract are incorporated herein by
<br />reference, for constructing the fOllowjng project
<br />REDWOOD ClTY RECYCLED WATER PROJECT - PHASE 1
<br />SEAPORT DISTRIBUTION SYSTEM
<br />Bid Package SA (Herkner Road and Central Concrete Driveway)
<br />
<br />and
<br />
<br />WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br />faithful performance of saId Contract; The Guarantee Company
<br />
<br />NOW, THEREFORE, we, the Principal, and of North America USA I as
<br />surety, are held and firmly bound unto CitYr San Mateo County, California, in the penal sum of
<br />* Dollars ($ 236 , 478 . 25-11 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 />admin;strators and successors, jointly and severally, firmly by these presents.
<br />
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principalj his or
<br />its heirs, executors, administrators) successors or assigns, shall in all things stand to and abide
<br />by, and will truly keep and faithfuJly perform the covenants I 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, offioers. employees and agents, as therein stipulated,
<br />then this obligatjon shalJ be nun 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 one (1) year after the completion and acceptance of
<br />the said work, during which time if the above bounden Principal. his or its heirs, executors,
<br />admjnjstrators, 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 workmanshipl in the prosecution of the work donsl 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, extension of time I alterationl 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, extension of time, alteration 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 />upon this bond, then. in addition to the penal sum hereinabove specified~ we agree to pay to the
<br />
<br />SEAPOR1 RECYCLED WATER DIS1'R1BUTJON SY$iEM, BJD PACKAGE 5A
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<br />* Two Hundred Thirty-Six Thousand Four Hundred Seventy-Eight Dollars and 25/100
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