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BOND NO. 0523026
<br /> PAYMENT BOND Premium included
<br /> under
<br /> Performance Bond.
<br /> KNOW ALL MEN BY THESE PRESENTS: That we,
<br /> CASEY CONSTRUCTION, INC.
<br /> INTERNATIONAL FIDELITY INSURANCE COMPANY
<br /> as Principal, and, organized
<br /> and existing under the laws of the State of - California
<br /> NEW JERSEY , and authorized to
<br /> execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto
<br /> any and all persons named in California Civil Code Section 3181 whose claim has not
<br /> been rid by the Contractor, company or corporation in the aggregate total of
<br /> 9N ION,tQR Y � N6N THOUSAND FIVE HUNDRMilars ($ 1,049,549.00 )
<br /> r (being 10 the ll on ract 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 /> 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 /> 2010 -2011 WATERMAIN REPLACEMENT PROJECT
<br /> NOW, THEREFORE, if the above - bounden Principal or his subcontractors fail to pay any
<br /> 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 /> 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 in
<br /> suit brought upon this bond.
<br /> This bond is executed and filed to comply with the provisions of the act of the Legislature
<br /> of the State of California as designated in Civil Code Sections 3247 -3252, inclusive, and
<br /> all amendments thereto.
<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.
<br /> 2010 -2011 WATERMAIN REPLACEMENT PROJECT
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