|
:� �
<br /> ,.
<br /> • . - �,
<br /> Bond No. 0523053
<br /> FAITHFUL PERFORMANCE BOND Premium $14, 390.00 '
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City ("City"), '
<br /> San Mateo County, State of California, has awarded to Casey Construccion, Inc.
<br /> hereinafter designated as the "Principal", a Contract, the terms and provisions of which Contract
<br /> are incorporated herein by reference, for constructing the following project:
<br /> SANITARY SEWER AND WATER REPLACEMENT PROJECT
<br /> (REDWOOD AVENUE, NORMAN COURT AND EBENER ST.)
<br /> and
<br /> WHEREAS, said Principai is required under the terms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract;,
<br /> International Fidelity
<br /> NOW, THEREFORE, we, the Principal, and Insurance GoIDp� , as surety, are he�d
<br /> and firmly bound unto City, San Mateo County, California, in the penal sum of
<br /> One Million EighYy Eight Thousand Nine Hundred Seventy Four and no/100---
<br /> ($ 1 088 974.00 ), lawful money of the United States, being one hundred percent
<br /> (100%) of the Contract amount, for the payment of which sum well and truly to be made, we
<br /> bind ourselves, our heirs, executors, administrators and successors, jointiy and severaily, firmiy
<br /> bythese 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 all 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 or their part, to be kept and
<br /> performed at the time and in the mariner therein spec�ed, and in all respects according to their
<br /> true intent and meaning, and shall indemnify and save harmless City, its Council,
<br /> Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br /> then this ob4igation shall be null and void; othervuise it shall be and remain in fuli 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 completion 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 shail fail to make full, complete and satisfactory repair
<br /> and replacements or totaliy 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 resuiting 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 force and virtue. '
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br /> California Civil Code Section 2819 regarding consent 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 /> Specifications accompanying the same shall in any way affect its obiigations on this bond; and it
<br /> does hereby waive notice of any such change, extension of time, alteration or addition to the
<br /> terms of the Contract, or to the work, or to the Specifications.
<br /> In the event City, or its successors or assigns, shall 6e the prevailing party in an action brought
<br /> upon this bond, then, in addition to the penal sum hereinabove specified, we agree to pay to the
<br /> �
<br /> SANiTaRY SEWER AND WATER REPIACEMENT PROJECT ��
<br />
|