Agmt10 K.J. Woods Construction, Inc.

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BOND#: 57BCSFR1782 PREMIUM: INCLUDED WITH PERFORMANCE BOND PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS; That wel as Principal~ and, HARTFORD FIRE INSURANCE COMPANY organized and existing under the laws of the State of California. and authorfzed to execute bonds and undertaking as sole surety I as Surety, are held and firmly bound unto any and aU persons named in California Civil. Code Section 3181 whose. claim has not been paid by the Contractor, company or oorporat)on in the aggregate total of FIVE HUNDRED EIGHTEEN THOUSAN~.~~l?_gO/1 00. DoUars ($518,000.00 ) (being 100% of the Contract amount) for the payment whereof, .,;,welland truly to be made, said Principal and Surety bond themselves, their heirs, "administrators, successors, and assigns, jointly and severally, firmly by these presents. THE OONDITION OF THE FOREBOINO OBLIGATION IS SUCH that, whereas the above with the City of Redwood City ("City") to do the following workl to..wit: WATER AND SeweR REPLACEMENT PROJECT HiLLCREST DRIVE, CIRCLE ROAD AND HOPKINS AVENUE NOW, THEREFORE. if the abov~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 Insurance Code with respect to work or labor performed under the Contract, or for any amounts required to be deducted, wjthheld, and paid over to the Employment Development Department fmm .the wAloe~ of employees of the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment I nsurance 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 is brought upon this bond, a reasonable attomey's fee. 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 80 as to give a right of action to them or their assignees in suit brouyhL upon thie bond. This bond is executed and fired to comply with the provisions of the act of the Legislature of the State of California as designated in Cjvil Code Sections 3247-3252, inclusivel and aU amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to wajve the provisions of Califomia Civil Code Section 2819 regarding consent to change, extension of time alteration. or addition to the tenns of the Contract, or to the work to be performed thereunder, or the Speclflcattons accompanyIng the same$ Shan 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 Contractj or to the work, or to the Specifications. WATER AND SEWER REPI..ACFMFNT PROJECT HILLCREST DRIVE, CIRCLE