Agmt09 J & M, Inc - Laserfiche WebLink

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Bond Number: 12061566 Premium Included In Performance Bond PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, J & M, Inc. as PrincipaL and, The Guarantee Company of North America USA organized and existing under the laws of the State of California I and authorized to execute bonds and undertaking as sole suretYl as Surety, are held and firmly bound unto any and all persons named in California Civil Code Section 3181 whose claim has not been paid by the Contractor, company or corporation in the aggregate total of * Dollars ($ 2 3 6 , 4 7 8 . 2 5 - - - - ) (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 severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with the City of Redwood City ("City") to do the following work, to~wit: REDWOOD CITY RECYCLED WATER PROJECT.... PHASE 1f SEAPORT DISTRIBUTION SYSTEM Bid Package 5A (Herkner R.oad and Central Concrete Driveway) 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 Californial or amounts due under the Unemployment Insurance Code with respect to work or labor 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 wiH pay for the same, in the amount not exceedjng the sum specified in this bond. and alsol in case suit is brought upon this bond, a reasonable attorney's feel to be fixed by the Court. This bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the State of California $0 as to give a right 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 Civil Code Sections 3247-3252, inclusive. and all amendments thereto. And the sajd Surety, for vaJue received, hereby stipulates and agrees to waive the provisions of California Civil Code Section 2819 regarding consent to changej extension of time alteration, or addition to the terms of the Contract, or to the worK to be performed 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. seAPORT RECYCLED WATER DISTRIBUTION SYSTEM, siD PACKAGE 5A * Two Hundred Thirty-Six Thousand Four Hundred Seventy-Eight Dollars and 25/100