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<br />,~
<br />
<br />nine
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<br />Bond No. 08985557
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<br />Premium: $144.00
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<br />FA}THFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: thal, WHEREAS, the City of Redwood Clty("Clty"},
<br />eat'! Ml)ko Courrth Sta\e of Callfornla, has awardGd to
<br />Ferma Corporation I nere1naner designated as the
<br />"PrIncipal", a Contract, the terms and provisions of whIch Contract are (llcorpora1ed her~ll by
<br />reference, for constructing the fallowing project:
<br />
<br />707 BRADFORD ABA1EMENT PROJECT
<br />
<br />and
<br />
<br />WHERt:AS, 31'tid prinoipul in Tcquirod under 1ho tormo of Gaid Contract 10 furnioh Q bond fol' tho
<br />falthtul performance at saId Cotltrac\;
<br />Fidelity and
<br />NOW, THEREFORE, we, the Principal, and Deposit Company of Maryland, as
<br />suretY. are l1e~d and firmly bound unto City, San Mateo Cqt?n1Y, California. In the penal sum of
<br />thousand, nlne hundred seventy-seven. Donars ($9,977.00----), lawful money
<br />o( the United States, being one hUllored peTC€flt (100%) ot tha Contract amoun1) for the
<br />payment of which sum well and truly to be made, we bInd (}urselv6S, our hejrs, executors,
<br />adminislrators and successors, jointly and severalJv, firmly by these presents.
<br />
<br />THE CONDITiON OF TH1S OBIJGAT10N lS SUCH, that If lhe above bounden Principal, his or
<br />its heirs, executorss aaminisWa1ors, successors or assigns, shall In all things stand to and abide
<br />by, and will truly keep and faithfully perform the covenants, conditkms, and agreements in the
<br />cuid Contract .:)nd any altoration~ made as ih6rein provided, on hie: or theIr part, tQ be kept cmd
<br />pertorrned at the time and in the manner therein specified, and In all respects according to their
<br />true intent and meanIng, and shalt lnd9mnlly and save harmless City, its Council,
<br />Commissioners, boards, com.m\Uees, oiiicers, employees and agents, as therein stipulated)
<br />then 1hls obligation shall be ~ull and \lold; othSf'MSe It shall be and remain In fu)l force and
<br />virtue.
<br />
<br />As a condrUon precedent to 'he satIsfactory completion of the said Contract, the above
<br />obligatIon shatl hold good ior a period of one (1) year after the oompletlon and acceptance of
<br />lI1e saId worK, durIng whIch Urns It the alJo,,~ bounden Pflnclpal, \lis Dr 11S nelrs. .executors,
<br />admlnfstrators, successors or assigns shall fail to make full) complete and satisfactory repair
<br />and replacements or totally protect tile said City from loss or damage made evIdent durlng said
<br />period 01 one (1) year tram the date 01 acceptance of said work, and resulting (rom or caused by
<br />d<>f~ct\IJG matGrialtt. or f~\.ll\y WDf~mal)shlp, In 11"1g pro~Qoution of tha work done, tho abovo
<br />obligation shall be and remaIn In fun force and v\l1ue,
<br />
<br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisIons ot
<br />Cal\fornia eM! Code SectIon 2819 regarding consent to change. extensIon of time, alteration, or
<br />addttton to tne terms 01 the Con1ract Df to tne work to be performed thereunder, or the
<br />SpeclHcations accompanying the same shall in any way aUact its obligations on ihls bond; and it
<br />does hereby Wfttve notice of any s~ch ohange~ extension of time\ alteration or edd~tlon to the
<br />terms of the Contraot, or to the work, or to the SpecificaUons.
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