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<br />Bond No. 08985558
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<br />Premium: $413.00
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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("City't
<br />San Malso County, Stale 01 C~lifl,,!rnja, has awarded Iv
<br />Ferma Corporation I hereinafter designated as the
<br />ilPdnclpalll, a Contract, the term5 and prQvls\olls 0\ which CDntrac1 are Incorporated herein by
<br />reference, for conslructlng the following project:
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<br />707 BRADFORD DEMOLITION PROJECT
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<br />and
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<br />WHEREAS, said PrinCipal Is required under th8 tf::mml of said Contract 10 furnIsh a bond for the
<br />faitl11u\ pSl10rmance 01 said Contract;
<br />Fidelity and
<br />NOW, THEREFORE, we, the Principal} and Deposit Company of Maryland I as
<br />suroly, Glre ht')ld sand firmly bound unto Cily, San M~h~o County. California, in thg P~H\Q.I ~um of
<br />twenty- eight thousand I seven hundred Dollar.s ($28 I 700.00 - - j, lawful money
<br />of the United states, being one hundred percent (100%) of the Contract amount, for the
<br />payment of wh\cn sum well and truly to b& mad&, we bInd ourselves, our heIrs, executors,
<br />administrators and successorsl jointly and severally, firmly by \hese presell's.
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<br />THE CONDlrlON OF THIS OBUGATION IS SUCH, that if the above bounden PrIncIpal. his or
<br />its heirs, executors, administrators, sucoessors or assigns, shall in all things stand to and abide
<br />by, anc wm truly keep andfaithiully pertQflTl \he CQvenan1s, conditions. and agreements in the
<br />~i:ilc.f COfllrCllll cmd any alll;:lraUons made as tht::re\lI provIded, on his or H leh pel! \1 \u tJ':1 kl;:lJ-lt i.i!l(j
<br />performed at the time and in the manner therein speoified, and In all respects according ~o their
<br />true Intent ~nd meaning, and shall indemnify and save harmless City, its Council,
<br />CDmmlssioners, boards. commltte~s. officers, employees and agents, as therein stipulated,
<br />th~m thig obligation sn'i\H bQ t'\l\!\ and voId; o1herlf\llSA it sh~\l bQ and remain If) full forCG and
<br />virlue.
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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 perlod of one (1) year after the completion and acceptance of
<br />the .said work, during which Hme if the- above bounden Principa)~ his or its haIrs. executors,
<br />administrators, successors or assigns shall fall to mal<.a ful!, ct)l]lplete a.nd satis1aolory repair
<br />and replacements or totally proteot the said City from Joss or damage made evident durIng said
<br />period of one (1) year from lhe date of acceptance of said work, and resultlng from or caused by
<br />uer~Gtive maleriClls or fa.ulty workmansl1lp, In tho prosecution of the worl-: done, Ih~ abuve
<br />tlbllgatloll shall be and remaIn \n 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 />C::lllfClrnla Civil Code Section 2819 reoardino consEtnt to cl1anoe, extension ot time, alteration. or
<br />addition to ihe lerrns ot the Contract or to tne work to be performed thereunder. or the
<br />SpeciiicaUons accompanying the same shall In any way a11ect i's obligations on this bond; and it
<br />does hereby waive notice of any such change, e1.tens\on of time, alteration Qr addi110n to 'tDe
<br />terms of the Contract, or to the work, or 10 the specifications.
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