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"; EXECUTED IN DUPIICATE BOND NO. 782925P
<br /> � PREMIUM: $971.00
<br /> � •
<br /> � IS FOeZ CCPo'iRACT TER4S
<br /> IIND IS SU9lfCi TO AD1USTkiEf1T
<br /> FAITHFUL PERFORMANCE BOND ��� �'� F1'�� CC!iTRACi PidCE
<br /> KNOW ALL MEN BY THE3E PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> � San Mateo Counry, State of Califomia, has awarded to
<br /> TONY PAINTING hereinafter designated as the
<br /> "P�inC(pal",, a Contract, the terms and provisions of which Contract are incorporated he�ein by
<br /> reference, for constructing the following project:
<br /> EXTERIOR PAINTING FIRE STATIONS NO. 11 AND NO. 20
<br /> WHEREAS, said Principal is required under the terms of said Contract to fumish a bond for the
<br /> faithful pertormance of said Contract DEVELOPERS SURETY AND INDEMNITY
<br /> NOW, THEREFORE, we, the Principai, and COMPANY , as
<br /> surety, are held'and flrmiy bound unto City, San Mateo County, Califomia, in the penal sum ot
<br /> THIRTY EIGHT THOUSAND EIGHT HUNDRED FIFTY D0118fS ($ 38,850.00 l, 18WfUl f110t1@y
<br /> of the United States, being one hundred percent (100%) of the Contract amount, for the
<br /> payment of which sum weil and truly to be made, we bind ourseives, our heirs, executors,
<br /> administrators and successors, jointly and severaliy, firmly by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that 'rf the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide
<br /> by, and will truiy keep and faithfully perfortn the covenants, condit(ons and agreements in the
<br /> said Contract and any alterations made as therein provided, on his or their part, to be kept and
<br /> performed at the time and In the manner therein specified, and in ali respects according to their
<br /> true intent and meaning and shail indemnify and save harmless City, ka Council,
<br /> Commissioners, boards, committeas, officers, employees and agents, as therein stipulated,
<br /> then this obligation shall be null and void; otherwise it shall be and remain in full force and
<br /> virtue.
<br /> As a condition precedent to the satisfactory completion of the said Contract, the above
<br /> obligation shall hold good for a period of one (1) year after the compietion and acceptance of
<br /> the said work, during which time if the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make fuii, complete and satisfactory repair
<br /> and replacements,or totally protect the said City from loss 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 materials or faulty workmanship, in the prosecution of the work done, the above
<br /> obligation shall be and remain in full for� and virtue.
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br /> Califomia Civil Code Section 2819 regarding wnsent to change, extension of time, alteration, or
<br /> addition to the terms of the Contract or to the work to be performed thereunder, or the
<br /> Speclflcations accompanying the same shall in any way affect its obligations on this bond; and it
<br /> does hereby waive notice of any such change, extension of time, alteration or addition to the
<br /> tertns of the 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 brought
<br /> upon this bond, then, in addition to the penal sum hereinabove spec�ed, 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.
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