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Bond No. 400SV4942
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<br /> PAYMENT BOND
<br />
<br /> KNOW ALL MEN BY THESE PRESENTS: That we, C~lco Services, Inc.
<br />
<br /> as Principal. and, St. Paul Fire and Marine Insurance Company
<br /> organized and existing under the laws of the State of ~
<br /> Minnesota and authorized to
<br />execute bonds and undertaking as sole surety, as Surety, are 'held and firmly bound
<br />unto any and all persons named in California Civil Code Section 3181 whose claim has
<br />not been paid b_v. J;he Cqntr. a_ctor, c_.ompapY.0j'.....c~.r~.oration in the aggregate total of
<br />Five Rrdred Fifty ~ght ~bdsard F~Dbt FLrdred sixty Lrm m-m D31ZUO ' Dollars ($ 558~861.55',,~,~w~w~,¥ )
<br />(being 100% of the Contract amount) for the payment whereof, well and truly to be
<br />made, said Principal and Surety bond themselves, their heirs, administrators,
<br />successors, and assigns, jointly and severally, firmly by these presents.
<br />
<br /> THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the
<br /> above with the City of Redwood City ("City") to do the following work, to-wit:
<br />
<br /> Agreement-2002-2003 Sewer Main Replacement
<br />
<br /> NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay
<br /> any of the persons named in Section 3181 of the Civil Code of the State of California, or
<br /> amounts due under the Unemployment Insurance Code with respect to work or labor
<br /> performed under the Contract, or for any amounts required to be deducted, withheld,
<br /> and paid over to the Employment Development Department from the wages of
<br /> employees of the Contractor and his subcontractor pursuant to Section 13020 of the
<br /> Unemployment Insurance Code of the State of California, with respect to such work and
<br /> labor, the surety will pay for the same, in the amount not exceeding the sum specified in
<br /> this bond, and also, in case suit is brought upon this bond, a reasonable attorney's fee,
<br /> to be fixed by the Court.
<br />
<br /> This bond shall inure to the benefit of any person named in Section 3181 of the Civil
<br /> Code of the State of California so as to give a right of action to them or their assignees
<br /> in suit brought upon this bond.
<br />
<br /> This bond is executed and filed to comply with the provisions of the act of the
<br /> Legislature of the State of California as designated in Civil Code Sections 3247-3252,
<br /> inclusive, and all amendments thereto.
<br />
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the
<br /> provisions of California Civil Code Section 2819 regarding consent to change, extension
<br /> of time alteration, or addition to the terms of the Contract, or to the work to be performed
<br /> thereunder, or the Specifications accompanying the same, shall in any way affect its
<br /> obligations on this bond; and it does hereby waive notice of any such change, extension
<br /> of time, alteration, or addition to the terms of the Contract, or to the work, or to the
<br /> Specifications.
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