Agmt09 Guerra Construction - Laserfiche WebLink

Browse Search

Executed In Duplicate Bond Number: 0482371 Premium Included In Performance Bond SECTION 00620 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, Guerra construction Group Prino. J d International Fideli ty Insurance Company ~ d d as Ipa, an ~ organize an existing under the laws of the State of Q~ New Jersey I and authorized to execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and alf persons named in California Civil Coda Section 3181 whose claim has not been paid by the Contractof, company or corporation in the aggregate total of Two Hundred Forty-Two Thousand Eight Hundred TwentYDolJars ($242 I 820.00 - - - - ) (being 1000/0 of the Conttact amount) for the payment whereof, wen and truly to be made, sald Principal and Surety bond themselves. their heirs, administr~torsl 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 CtCity") to do the following work. to-wit: 2009-2010 UTILITY TRENCH Repair Project NOW, THEREFORE. if the above-bounden PrincIpal or his subcontractoni fail to pay any of the persons named In Section 3181 of the Civil Code of the state of Callfornta, Of amounts due under the Unemployment Insurance Code WITh respect to work or Jabor performed under the Contract. or for any amounts required to be deduoted. withheld, and paid over to the Employment DeveJopment 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 CaJjfornia. with raspect 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 I in case suit is brought upon this bond, a reasonable attorney's fee, to be fixed by the Court. This bond shall fnure to the benefit of any person named in Seotion 3181 of the Civil Code of the State of California so 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 aU amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to waive the provisIons of California Civil Code Section 2819 regarding consent to change, 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 suoh ohange. e)(tension of time, alteration, or addition to the terms of the Contract, or to the work. or to the Specifications. IN WITNESS WHEREOF, the above bounden parties havs executed this instrument under their seals this 19th day of November .20~ the nama and corporate- seal of PAYMENT BONO 2009-2010 UiILI1Y TRENCH RePAIR PROJ[;CT 00620-1