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Bone _.o. S-901-91 77
<br /> Premium: $81 3.00
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<br /> FAITHFUL PERFORMANCE. BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood
<br />City("City'). San Mateo County, State of Califorma, has awarded to
<br /> c~t Side ~ssociates , hereinafter designated as the
<br />~Principal", a Contract, the terms and provisions of which Contract am incorporated
<br />herein by reference, for constructing the following project:
<br />Redwood City Police D~,n~ .r~ment Lobby Remodel ...... ar~
<br />
<br />WHEREJt~, said Principal is required under the terms of said Contract to furnish a bond
<br /> for the faithful performance of said Contract:
<br /> Redwood City Police Department Lobby Remodel
<br /> NOW, ~I~ER~F(~E, we, the Pdn~pal, and Washington international Insuran~,e Company
<br /> as surety, are held and firmly bound unto City, San Mateo County, California, in the
<br /> penal sum of Fifty-Eiqht Thousand~ One Hundred- - D01tars
<br /> ($ 58,100.00 ), lawtul money of the United States, being one hundred percent
<br /> (1~)0%) Of the Contract amount, for the payment of which sum well and truly to be made,
<br /> we bind ourselves, our heirs, executors, administrators and successors, iointiy and
<br /> severally, firmly by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal,
<br /> his or its heirs, executors, administrators, successors or assigns, shall in all things stand
<br /> to and abide by, and well and truly keep and faithfully perform the covenants, conditions,
<br /> and agreements in the sa~d Contract and any aJterations made as therein prowded, on
<br /> his or their peA, to be kept and Ic~rform~q~l at the time and in the manner therein
<br /> specified, and in all respects acoording to their true intent and meaning, and shall
<br /> indemnify and save harmless City, its Council. Commissioners, boards, committees,
<br /> offiCers, employees and agents, as therein stipulated, then this obligation shall be r~ull
<br /> and void; otherwise it st~ail be and remain in full foma and virtue.
<br /> As a condition pmcedont to the satisfactory completion of the said Contract, the above
<br /> obligation shall hold good for a period of one (1) year after the completion and
<br /> ecceptanoe of the sa~d work. during which time if the above bounden Principal, his or its
<br /> heirs, executors, administrators, successors or assigns shall lail to make tuft. complete
<br /> and satisfactory repair and replacements or totally protect the said City from foss or
<br /> damage made evident dunng said period of one (1) ~ear from the date o~ acceptanoe of
<br /> said work. and resuhing from or caused by defective materials or faulty workmanship, in
<br /> the prOSeCution ol the work done, the above obligation shall be and remain in full force
<br /> and virtue.
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the
<br /> provisions of California Civil Code Section 2819 regarding consent to change, extension
<br /> of time, alteration, or addition to the terms of the Contract or to the work to be performed
<br /> thereunder or the Specifications accompanying the same shall in any wise affect its
<br /> obligations on this bond; and it doeS hereby waive notise of any such change, extension
<br /> of time, alteration or addition to the terms of the Contract, or to the work, or to the
<br /> Specifications.
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