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· ~ ~ -- Bond No. 2809206
<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 Ci=y ("City"), San Mateo County, State of California, has
<br /> awarded to M.J. Brock & Sons, Inc. d/b/a Ryland Homes
<br /> hereinafter designated as :he "Principal", a Contract, the ~e~ms
<br /> and provisions of which Con~rac~ are incorpora~e~ herein by
<br /> reference, for constructing the following pro~ect:
<br /> Gossamer Isle ..... ,
<br />
<br /> Contract to furnish a Don4 for the faithful per~o~ance of said
<br /> Contract;
<br />
<br /> NOW~ THE~FO~. we. the Principal, an4 Reliance
<br /> . Insurance Company ,
<br /> ~u=ezy, are ~el4 and :~rmly bovnd uat0 City, San
<br /> CaLifornia, in the penal s~ of one Million, Seven Hundred Ei~ty
<br /> Thousand and no/100 ..... ~...7---- ...... Dollars {$f']'7'80,0001,~,6]
<br /> lawful money of the United S~a~es, b~in~ one hundred
<br /> {100%) of the Con~ract ~unt, for ~he pa~ent of which s~ well
<br /> and truly ~o be made, we band ourselves, our heirs, executors.
<br /> a~inistrators and successors, jointly and severally, fi~ly by
<br /> these presents.
<br />
<br /> THK CONDITION OF ~IS OBLIGATION IS SUCH, =ha% if ~he ~ove
<br /> bounden Principal, his or its heirs, executors, a~inis~rators,
<br /> successors or assigns, shall in all ~hings s~and to and abide by,
<br /> · nd well and ~ly k~e9 and faithfully ~erfo~ ~he covenants,
<br /> conditions, and agreements in th~ said Contract and any
<br /> alteration~ ma~e as ~herein provided, on his ~r their part, to
<br /> kept and perfo~ed a~ the t~ and in the manner therein
<br /> specified, and in all res~s according to their t~e intent and
<br /> meaning, a~d shall ln~e~ify and ~ave ~a~less City, its Council,
<br /> Co~issioners, board~, oo~ittees, officers, employees and
<br />
<br /> and void: o~he~ise it shall be and r~in in full fo=ce and
<br /> v~rtue.
<br />
<br /> As a co~ition precedent to the satisfacto~ completion of
<br /> ~he said Con. ac=.' ~e a~ve obligation shall hold good for a
<br /> period of one {1} year after ~a comple~ion and accept~ce o~ the
<br /> said work, during which ~ if the ~e bounden Principal, his
<br /> or its heirs, e~u=ors, a~inis~a~rs, successors or assigns
<br /> shall fail to m~e full, complete and satisfactory repair ann
<br /> replacemen=$ o~ =orally pro~ec~ ~he main cl~y ~rom loss or
<br />
<br /> a~p%an~a of sai~ work, an~ resu~ti~g fr~ or =ause~ by
<br /> defec~ive materials or faulty wor~anshi~, in ~e prose~tion
<br /> the work done, ~he a~ve obliga~ion sh~ll be and remain in full
<br /> for~e aa~
<br />
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