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BOND NO. 01501684-0
<br />
<br /> SECTION I]0201
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<br /> FAITHFUL. PERFORMANCE BOND
<br /> KNOW ALI- MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood
<br />City("City"), San Mateo County, State of California, has awarded to
<br />sat,[ FI~C'~SCO ELEVATOR COiffFAI']Y , hereinafter designated as the
<br />"Pnncipal", a Contract. the terms and provisions of whiCh Contract are incorporate~l herein
<br />I~y reference, for constructing the following project:
<br /> REPAIRS TO ELEVATOR - FIRE STATION NO. 9
<br />
<br /> and
<br /> WHEREA~, said Principal is required under the terms of said Contract to furnish a bond
<br /> for the faithful performance of said Contract;
<br /> NOW, THEREFORE, we. the Pr, ncipal, and LIBERTY t~JTUAL INSURAt~CE COMPAt'~,
<br /> as surety, are held and firmly bound unto City. San Mateo Count~. California, in
<br /> penal sum of FIFTY '1~o THOUSAz~D AI~D NO/100 ................ Dollars
<br /> ($ 52,000.00 ), lawful money of the united States, being one hundred percent
<br /> (100%) of the Contract amount, for the payment of which sum well and truly to De maae,
<br /> we Dif~d ourselves, our r~eirs, executors, administrators and successors, jointly and
<br /> severally, firmly by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden
<br /> Principal, his or its heirs, executors, administrators, successors or assigns, sl~all in all
<br /> things stand to and abicle by, and will truly y. eep and faithfully perform the covenants,
<br /> conditions, and agreemenm in tl~e said Contract and any alterations made as therein
<br /> providecl, on his or their part, to be kept and performed at the time and m the manner
<br /> tnere~n specified, and in all respects according to tl~elr true intent and meaning, and
<br /> snail ~ndemnlfY and save r~armless City, its Council. Commissioners, boards,
<br /> committees, officers, employees and agentS, as [herein stipulated, then tnis ol~liga[~on
<br /> snail De null and void-, otherwise it sllgll De an~ remain in full force and v~rtue
<br /> As a condition precedent to We satisfactory completion of the said Contract, the above
<br /> obligation snail hold good for a period ct one (1) year after the completion and
<br /> acceptance of the said work, during which t~me if the above l~ounden Principal, his or its
<br /> heirS, executorS, administrators, successors or assigns s,~all fail to make full, complete
<br /> and satisfactory repair and replacements or totally protect the said City from loss or
<br /> damage made evident duhng said period of one (~) year from the date of acceptance of
<br /> sa~a work,, and resulting from or caused Dy defective materials or faulty workmanship, in
<br /> the prosecution of the wort~ done, the above o~ligat~on snail Be ancl remain in full force
<br /> and virtue
<br /> And the said.. Surety, for vatue received, I ereDy stipulates an(] agrees to waive the
<br /> provisions of California C~wl Code Section 2819 regarding consent to change, extension
<br /> of t~me, alteration, or addition [o the terms of the Contract or to tr~e work to be performed
<br /> Thereunder or the Specifications accompanying the same shall ~n any way affect its
<br /> 00201-1
<br /> FAITHFUL PERFORMANCE BOND
<br /> REPAIRS TO Et. EVATOR - FiRE STATION NO. 9
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