Agmt11 Shaw Pipeline, Inc. - Laserfiche WebLink

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BOND #: 12077916 . PREMIUM: INCLUDEO WITH PERFORMANCE BOND PAYMENT,BOND KNOW ALL MEN BY THESE PRESENTS: That we SHAW PIPELINE, INC. as Principal, and THE GUARANTEE COMPANY OF NORTH AMERICA USA organized and existing under the laws of the State of California , and authorized to execute bonds and undertalting as sole surety as Surety, are held and firmly bound unto any and all persons named in California Civi! Code Section'3181 whose claim has not been paid by the Contractor, company, or corporation in the aggregate totai of SEVEN HUNDRED NINETY THOUSAND TWO HUNDRED AND 00/100 Dollars .($ 790 )(b81�g 100% of the Contract amount) for the payment whereof, well and truly to be made, said Principai and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION iS SUCH that, whereas the above with the City of Redwood City ("City") to do the following work, ta-wit: 2017-2Q12 WATERMAIN REPLACEMENT PROJECT NOW, THEREFORE, if the above-bounden Principaf or his subcontractors fail to pay any o` the persons named in Section 3161 of the Civil Code of the State of Califomia, or amounts due under the Unemployment Insurance Code with respect to work or labor pertortned under the Contract, or ,for any amounts reguired to be deducted, withheld, and paid over to the Employment Development Departmenffrom the wages of empioyees of the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment insurance Code of the State ofi Califomia, with respect to such work and labor the surety will pay for the same, in the ,amount not excseding the sum specified in this bond, and aiso, in case suit is brought upon3his bond, a reasonable attomey'sfee, to be fixed by the Court. This bond shall inureto the benefit of any person named in:Section 3181 ofthe Civil Code of the State of Cal'rfornia so as to give a right of action to them or their assignees in suit brought upon this bond. This bond is executed and filed to comply with the provisions of the aat of the Legislature of the 'State of California as designated in Civil Code Sections 3247-3252, inclusive, and ail amendmerrts thereto. And the said Surety, for vaiue received, hereby stip�lates and agrees to waive the provisions of Cal'rfomia Civil Code Section 2819 regarding consent to change, extension of time aiteration, or addition to the terms of the Contract, or to the work to be performed thereunder, or the Specifications accompanying the same, shall in any way affect its obligations on this bond; and ft does hereby waive notice of any such change, extension of time alteration, ar addition to the terms ofi the Contract, or to the work, or to the Spec'rfications. 2011-20'12 WATERMAIN REPLACEMENT PROJECT