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Bond No.: JSO632
<br /> Premium: $1,944.00
<br /> FAITHFUL PERFORMANCE BOND
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<br /> KNOW ALL MEN BY THESE PRESENTS: that, Whereas the City of Redwood City
<br />("City") San Mateo County, State of California, and Ampex Corporation have entered into an
<br />agreement (the "Agreement") dated December 27, 1995, which Agreement was assigned by
<br />Ampex Corporation to Martin/Campus Associates L.P., whereby Martin/Campus Associates
<br />L.P. pursuant to the Agreement and by virtue of the assignment of the Agreement agrees to
<br />install and complete certain designated public improvements, which said Agreement, dated
<br />December 27, 1995 and assigned on June 28, 1996, and indentified as Project Map #95-1,
<br />is hereby referred to and made a part hereof; and
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<br /> WHEREAS, Martin/Campus Associates L.P. is required under the terms of said
<br />Contract to furnish a bond for the faithful Performance of said contract;
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<br /> NOW THEREFORE, we, the Principals, Martin/Campus Associates L.P. and Devcon
<br />Construction, Inc. and St. Paul Fire and Marine Insurance Company of California, as
<br />surety, are held and firmly bound unto City, San Mateo County, California, in the penal sum
<br /> of Ninety thousand dollars and no/100'**($90,000.00'***), lawful money of the United
<br />States, being one hundred percent (100 %) of the Contract amount, for the payment of which sum
<br />well and truly be made, we bind ourselves, our heirs, executors, administrators and successors,
<br />jointly and severally, firmly by theses presents.
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<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden
<br />Principal, his or its heirs, executors, administrators, successors or assigns, shall in all things
<br />stand to and abide by, and well and truly keep and faithfully perform the covenants, conditions,
<br />and provisions in the said Contract and any alterations made as therein provided, on his or their
<br />part, to be kept and performed at the time and in the manner therein specified, and in all
<br />respects according to their true intent and meaning, and shall indemnify and save harmless City,
<br />its Board members, boards, committees, officers, employees and agents, as therein stipulated,
<br />then this obligation shall be null and void; otherwise it shall be and remain in full force and
<br />effect.
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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 period of one (1) year after the completion and acceptance of
<br />the said work, during which time if the above bounden Principal, his or its heirs, executors,
<br />administrators, successors or assigns shall fail to make full, complete and satisfactory repair and
<br />replacements or totally protect the said City from loss or damage made evident during said
<br />period of on year (1) from the date of acceptance of said work, and resulting from or caused by
<br />defective materials or faulty workmanship, in the prosecution of the work done, the above
<br />obligation shall be and remain in full fome and virtue.
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<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the
<br />provisions of California Civil Code
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