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"BOND ISSUED IN TRIPLICATE"
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<br />BOND NO. 8548968
<br />P~: $264.00
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<br />BOND FORMS 00201
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<br />FAITHFUL PERFORMANCE BOND
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<br />KNOW ALL MEN BY THESE PRI~SENTS: that, WHEREAS, the City of Kedwood
<br />CityCCity"), San Marco Count, State of California, has awarded to
<br /> REPUBLIC ~,ECTRIC , hereinafter designated as the
<br />"Principal", a Contract, the terms and provisions of which Contract are incorporated hcre/n by
<br />reference, for constructing the follow/rig project: 2000 - 2001 Emergency Electrical Repairs
<br />Service and
<br />
<br />WHEREAS, said Principal is required under the terms of said Contract lo furnish a bond for the
<br />faithful performance of said Conlract;
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<br /> NOW, THEREFORE, we, the Principal, and COLONIAL ANERICAN CASUALTY AND~ ~
<br /> surety, are held and firmly bound unto City, San M~o~ County, California, in the penal sum of
<br /> S~ THOUSAND FI-v'E HUNDI:~D N~ Dollars ($17,594.00 ), lawful moncy
<br /> of the United States, being one hundred percent (100%) of the Contract amount, for the payment
<br /> of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators
<br /> and successors, johuly and severally, firmly by these presents. ~ SUP~'i'~' COMPANY
<br />*+~FOUR AND N0/lO0ths .........
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal,
<br /> his or its heirs, executors, administrators, successors or assigns, shah in all things stand to and
<br /> abide by, and well and truly keep and faithfully perform the covenants, conditions, and
<br /> agreements in the said Contract and any alterations made a~ therein provided, on his or their part,
<br /> to be kept and performed at the time and lathe manner therein specified, and in all respects
<br /> according to their true intent and rne~.ing, and shall indemnify and save harmless City, its
<br /> Council, Commissioners, boards, committees, officers, employees and agents, as therein
<br /> stipulated, thou this obligation shall be null and void; otherwise it shall be and remain in full force
<br /> and virtue.
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<br />As a condition precedent to the satisfactory completion of thc said Contract, the above obligation
<br />shall hold good for a period of one (I) year after thc completion and acceptance of thc said work,
<br />during which time if the above bounden Principal, his or its heirs, executors, administrators,
<br />successors or assigns shall fail to make full, complete and satisfactory repair and replacements or
<br />totally protect die said City fi.om loss or damage made evident during said period of one (1) year
<br />from the date of acceptance of said work, and resulting fi.om or caused by defective materials or
<br />faulty workmanship, in the prosecution of the work done, the above obligation shall be and
<br />remain in full force and virtue.
<br />
<br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br />California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br />addition to the terms of the Contract or to the work to be performed thereunder or the
<br />Specifications accompanying the same shall in any wise affect its obligations on this bond; and it
<br />does hereby waive notice of any such change, extension of time, alteration or addition to the
<br />terms of the Contrnct, or to the work, or to the Specifications.
<br />
<br />In the event City, or its successors or assigns, shall be the prevailing pan3, in an action brought
<br />upon this bond, then, in addition to the penal sum hereinabove specified, we agree to pay to the
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<br />FAITHI:UL PER. FORMANCE BOND 00201-I
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