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PREMIUM BASED ON FINAL CONTRACT PRICE. BOND NUMBER: 08989725
<br /> EXECUTED IN DUPLICATE PREMIUM: INCLUDED IN PERFORMANCE BOND.
<br /> PAYMENT BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: That we,
<br /> MCK SERVICES, INC.
<br /> as Principal, and, FIDELITY AND DEPOSIT COMPANY OF MARYLAND organized and
<br /> existing under the laws of the State of California
<br /> A CORPORATION OF THE STATE OF MARYLAND , and authorized to execute
<br /> bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all
<br /> persons named in California Civil Code Section 3181 whose claim has not been paid by the
<br /> Contractor, company or corporation in the aggregate total of
<br /> ONE MILLION, FORTY THOUSAND, SIX HUNDRED SIXTY SIX Dollars ($ 1,040,666.00 ) (being
<br /> 100% of the Contract amount) for the payment whereof, well and truly to be made, said
<br /> Principal and Surety bond themselves, their heirs, administrators, successors, and assigns,
<br /> jointly and severally, firmly by these presents.
<br /> THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with
<br /> the City of Redwood City ( "City ") to do the following work, to -wit:
<br /> 2010 -2011 SPOT REPAIR AND OVERLAY PROJECT
<br /> NOW, THEREFORE, If the above- bounden Principal or his subcontractors fail to pay any of the
<br /> persons named in Section 3181 of the Civil Code of the State of California, or amounts due
<br /> under the Unemployment Insurance Code with respect to work or labor performed under the
<br /> Contract, or for any amounts required to be deducted, withheld, and paid over to the
<br /> Employment Development Department from the wages of employees of the Contractor and his
<br /> subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the State of
<br /> California, with respect to such work and labor, the surety will pay for the same, In the amount
<br /> not exceeding the sum specified in this bond, and also, in case suit is brought upon this bond, a
<br /> reasonable attorney's fee, to be fixed by the Court.
<br /> This bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the
<br /> State of California so as to give a right of action to them or their assignees in suit brought upon
<br /> this bond.
<br /> This bond is executed and filed to comply with the provisions of the act of the Legislature of the
<br /> State of California as designated in Civil Code Sections 3247 -3252, Inclusive, and all
<br /> amendments thereto.
<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 way affect its obligations on this bond; and
<br /> it does hereby waive notice of any such change, extension of time, alteration, or addition to the
<br /> terms of the Contract, or to the work, or to the Specifications.
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<br /> 2010-2011 SPOT REPAIR AND OVERLAY PROJECT
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