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BO~' NO. 141485364
<br />A - PRE~,UM: $308.00
<br /> ,,
<br />
<br /> February 10, 1993
<br />
<br /> FAITHFUL PERFORMANCE BOND
<br />
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of
<br /> Redwood City ("City"), San Mate* County, State of California, has
<br /> awarded to COVEY TRUCKING COMPANY ,
<br /> hereinafter designated as the "Prih~ip~l", a Contract, the terms
<br /> and provisions of which Contract are incorporated herein by
<br /> reference, for constructing the following project: DEMOLITION OF
<br /> 3476 AND 3480 ROLISON ROAD. REDWOOD CITY. CA, and.
<br /> WHEREAS, said Principal is required under the terms of said
<br /> Contract to furnish a bond for the faithful performance of said
<br /> Contract;
<br />
<br /> NOW, THEREFORE, we, the Principal, and AMERICAN CASUALTY COMPANY
<br /> OF READING~ PENNSYLVANIA., , as
<br /> ~urety, are h~ld-ahd firmly bound unto City, San Mate, County,
<br /> California, in the penal sum of TWENTY FIVE THOUSAND 5IX HUNDRED
<br /> FIFTY AND ****************************~*** '~'l'~rs' L($25.650 00'*****
<br /> lawful money of the bni~ed States, being one hundred percent
<br /> (100%) of the Contract amount, for the payment of which sum well
<br /> and truly to be made, we bind ourselves, our heirs, executors,
<br /> administrators and successors, jointly and severally, firmly by
<br /> these presents.
<br />
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above
<br /> bounden Principal, his or its heirs, executors, administrators,
<br /> successors or assigns, shall in all things stand to and abide by,
<br /> and well and truly keep and faithfully perform the covenants,
<br /> conditions, and agreements in the said Contract and any
<br /> alterations made as therein provided, on his or their part, to be
<br /> kept and performed at the Lima and in the manner therein
<br /> specified, and in all respects according to their true intent and
<br /> meaning, and shall inderanify and save harmless City, its Council,
<br /> Com~aissioners, boards, committees, officers, employees and
<br /> agents, ,as therein stipulated, then this obligation shall be null
<br /> and void; otherwise i~ shall be and remain in full force and
<br /> virtue.
<br />
<br /> As a condition precedent to the. satisfactory completion of
<br /> the said Contract, the above obligation shall hold good for a
<br /> period of one (1} year after the completion and acceptance of the
<br /> said work, during which time if the above bounde~ Principal, his
<br /> or its heirs, executors, administrators, successors or assigns
<br /> shall fail to make full, complete and satisfactory repair and
<br /> replacements or totally protect the said city from loss or damage
<br /> made evident during said period of one (1) year from the date of
<br /> acceptance of said work, and resulting from or caused by
<br /> defective materials or faulty workmanship, in the prosecution of
<br /> the work done, %he above obligation sh~ll be and remain in full
<br /> force and virtue.
<br />
<br />
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