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BOND #:12077916
<br /> � PREMIUM: $10,402.00
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> San Mateo County, State of Califomia, has awarded to
<br /> SHAW PIPELINE, INC. hefElft8ft6� designated as the
<br /> "PrincipaL". a Corrtract, the terms and provisions of which Contract are incorporated herein by
<br /> reference, for constructing the following projec±:
<br /> 201.1-2012 WATERMAIN REPLACEMENT'PROJECT
<br /> and
<br /> WHEREAS, said Principal is required under the terms of said Confract to fumish a bond for the
<br /> faithful performance of said Contract;
<br /> �NOW THEREFORE W@ the Principai a�d THE �UARANTEE COMPANY OF NORTH AMERICA USA a5
<br /> surety, are held and firmly bound unto City, San. Mateo County Califomia, in the penal sum of
<br /> SEVEN HUNDRED NINETY THOUSAND TWO HUNDRED AND 00/100 Dollars� (5 79o.zoo.00 �, �gyyfUl money
<br /> of the United States, being one huncJred percent (100%) of the Contract amount for the
<br /> payment of which sum well and trufy to be made, we bind ourseives, our heirs, executors,
<br /> administrators and successors,.jointiy and severally, firmlyby.these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in ali things stand to and abide
<br /> by, and will truly keep and faithfully perForm the covenants, conditions, and agreements in the
<br /> said Contract and any alterations made as therein provided, on his ortheir part, to be kept and
<br /> pertormed at the time and in the manner therein specified, and in all respects according to their
<br /> true inteM and meaning, and shall indemnify and save harmless City, its Council,
<br /> Commissioners, boards, committees, officers, employees .and agents, as therein stiputated,
<br /> then ihis'obligation shali be null and void; otherwise it shall be and remain in full foroe and
<br /> virtue.
<br /> As a condition precedent to the satisfactory compietion of the said Contract, the above
<br /> o6ligation shall hold good for a period of one (1) year after the completion and acceptance of
<br /> the said woric, during which time 'rf the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make full, complete and satisfactory repair
<br /> and repiacements or totally protect the said City from foss or damage made evident during said
<br /> period of one (1) year from the date of acceptance of said work, and resulting from or caused by
<br /> defective materiais or fauity workmanship, in the prosecution of the work done, the above
<br /> obligation shall'be and remain in full force and virtue. .
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive tne provisions of
<br /> Caf'rfomia CiviP Code Section 2819 regarding cortsent to-change, extension of fime, alteratlon, or
<br /> addition to the terms of the Coritract 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 it
<br /> does hereby waive nofice of any such change, extension of fime, aiteration or addition to the
<br /> tsrms ofithe Contract. or to`the work, or to the Specifications.
<br /> In the event City, or its successors or assigns, shall be the prevailing party in an action brougM
<br /> upon this bond lhen, in addifion to the penal sum hereinabove specfied, we agree to pay to the
<br /> said City, or its successors.or assigns, a reasonable sum on account of attomey's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> 201 �-20�12 WATERMAIN REPLACEMENT PROJECT
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