Agmt03 Western States Surfacing - Laserfiche WebLink

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Bond No: 92929 9802 Premium: Included in Performance Bond PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, . western States Surfacing Inc. organized and existing under the laws . of the State of (~ South Dakota , and authorized to execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all persons named in California Civil Code Section 3181 whose ~aim has not been paid by the Cor~tractor, company or COrporation, in the aggregate: total of Four Hundred Ninety Eight Thousand Nine Hundred Fifty Four DuIla~ ($q.98.95q.68 :. ) Dollars and Si~.ing 100% Of the Contract amount) for the payment whereof, well and truly to be Eight Cents made, said Principal and Surety bond themselves,, their heirs, admin.tstrators. successors, and assigns, jointly and severa ly, firmly by'these presents. THE CONDITION OF THE FOREGOING OBLIGATI°N IS SUCH that, whereas the. above with the City of Redwood City ("City") to do 'the following work, to-wit: : 2002-2003 Asphalt Rubber Schip Seal Project. NOW, THEREFORE, if .the above-bounden Principal or his subcontractors fail to pay any of the persons named in Section 3181 of the Civil Code of the State of California or amounts due under the Unemployment insurance Co~e with respect to work; or labor performed under the Contract, or for any a'mOUnts,required to be deducted, Withheld, and paid over to the Employment Development Department .from the wages of employees of the Contractor and his subCOntractor pursuant to Section 13020 of the Unemployment Insurance Code of the State of Californ a with respect to such Work and' labor, the surety will pay for the .same, in the amount not exceeding the sum specified in this bond, and also, in case suit is brought upon' this bond, a reasonab e attomey's fee, to be fixed by the Court. This bond shall, inure to the benefit of any person named in Section 3181 of; the CiVil Code of the State .of California so as to give a right of action to them or their assignees in suit brought upon this bend. This bond is executed and filed to comply with the provisions of the act of the Legislature of the State of California as designated in Civil Code Sections 3:247-3252, inclusive, and all amendments thereto. . And the said Surety, for value received, hereby stipulates and agrees to Waive the provisions of California Civil Code Section 2819 regarding consent to change, extension of time alteration, or addition to the terms of the contract, Or to. the work to be i~erformed thereunder, or the Specifications acCOmpanying the same,, shall in any way ,affect its obligations on this bond; and it does hereby waive 'notice of any such change extension of time. alteration, or addition to the terms of the Contract, or to the work, lot to' the . Specifications,