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Bond #1000933811
<br /> Premiiun: $2,617.00
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> San Mateo County, State o( Cafifomia, has awarded to
<br /> McNabb Constructian, Inc. dba: �K F.nvirorunentxl hereinafter designated as the
<br /> "Pnncipal", a Contract, the tertns and provisions of which Contract are incorporated herein by
<br /> reference, for constructing the following project:
<br /> STULSAFT PARK ROAD REPAIRS PROJECT
<br /> and
<br /> WHEREA3, said Principal is required under the tertns of said Contract to furnish a bond for the
<br /> faithful pertortnance of said Contracl; American Contractors
<br /> NOW, THEREFORE, we, the Principal, an d lnd�mitY c�manY , as
<br /> surety, are held and ftrtnly bound unto City, San Mateo Count Califomia in the penal sum of
<br /> One hundred seven thousand eight* Dollars ($i ), lawful money
<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 ourselves, our heirs, executors,
<br /> administrators and successors, jointly and severally, firmly by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his ar
<br /> its heirs, executors, administrators, successors or assigns, shaB in all things stand to and abide
<br /> by, and wiil truly keep and faitMully perform the covenaMs, conditions, and agreemeMs in the
<br /> said Contract and any aRerations made as therein provided, on his or their part, to be kept and
<br /> perfortned at the time and in the manner therein specfied, and in all respects according to their
<br /> true intent and meaning, and shall indemnify and save hartnless City, fts Council,
<br /> Commissioners, boards, committees, 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 Contrad, 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 ff the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shal! fail to make full, complete and satisfactory repair
<br /> and replacements or totally protect the said City from loss or damage made evident during said
<br /> period af one (1) year from the date of acceptance of said work, and resufting from or caused by
<br /> defective materials or fauNy workmanship, in the prosecution of the work done, the above
<br /> obligatlon 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 /> Califomia Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br /> addition to the tertns of the ConVact 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 R
<br /> dces 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 assig�s, shall be 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 /> *hundred tw�nty eight and no/100----------
<br /> STULSAFT PARK ROAD REPPJRS PROJECT
<br />
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