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~Nt 21-35-99
<br /> Premium: $12,860.00
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<br /> FAITHFUL PERFORMANCE BOND
<br /> (Pub~ Works)
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<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREA~, the City of
<br />Roo~ood City ('City'), $8fl bi·tee County, State of California, has awurdecl to
<br /> Irv:Lne Apa_~tment Co~un±t:Les. Inc. ,,, .,
<br />here,hatter cle$ignete(I as t~te "Principal'..~-'Por~it, tho terms and provisions of which
<br />Permit are i~.mIx~at~l herein by relreref~..o, for constructing the following
<br />proj~'~'"t: Bair Isl.and, Assessor Parcel #052-540-030 alld
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<br /> WH_E.REAS, said Principal is required under the terms of sam Permit to furnish a
<br />bonc~ for ute faith~l podormartce of said Permit;
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<br /> NOW, THEREFOR[ we, the PHflCipal. and Amer:Lcan Ho.me Assurance Corn_party
<br />ami fi'mdy boun~ ume City, Sen Idmeo County, California, in the Renal sum of
<br />Two H:Lll,'ion F'ive Hundred Sevent~, TWo ~h,ousand and NO~'iOO----- ..... ~- OOtlall
<br />($ 2~572[000~00----). lawful money of the United States, being erie hundred percent
<br />(100%) of Ihs Permit amount, for the payment of which sum well and U'uly to be made.
<br />we I~ind ourselves, o~r heirs, exec~l;Ors, aclministratom and successors, jointly an)
<br />severally, firmly ~ these I=mSents.
<br />
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bourt~en
<br />Prit~cip&l, his or its heirs, executors, eciministrators, suc~:~ssors or assigns, shall in ail
<br />things stone to and abio'e t~y. ~ well ami truly keep and faithfully perform the
<br />covertents, cortclitiorts, arid rocluiremertts irt the said Permit arid arty ~terati~$ rna~e
<br />as there~ provicle~, on his or their paR, to I~a kept and perlormed a~ the time ~ irt the
<br />manner therein specifred, and in all respects accorcling to Iheir u~e intenl ancl meaning.
<br />aaa shell indemnify ancl save harmless City, its Council, Commissions, beetle.
<br />come, irises, offieers, employees ancl agents, as therein stipulated, then this obligation
<br />shall be null a~l void; oljletwiso it shall be and remain irt full fome anti effect.
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<br /> As · cx~lRion precmte~ to the satisfactory completion of Ihs ~ Pem~it, the
<br />adore oblige~on shall hold good for · ~ of one (1) year after Ule cofftll~et~on and
<br />ac,=eptance of the .aid work, during which time if the above ~ Prirtcit~, his or
<br />~ts heirs, e~2a42rs, edminis~retom, successors or assigns shall fall to make full,
<br />complete and satisfactmy relMir and reid·cements or toMlly protect the said City from
<br />los8 or dar·ego maeo evident (luring said 0eriod of one (1) year from tho date of
<br />ac·em·nc· of smd ~ arm renu#lng from er caused by defective metohat8 or faulty
<br />
<br />rem·in in full fomO and effect.
<br />
<br /> And the said Surety, for value received, hereisy stipulates and agrees to waive
<br />the provisions of Califom;o Civil Coda Section 2819 regar~ling consent to cl~rl~,
<br />axtensian of time, ait~,'afion, or actctition to the terms of tine Permit or to the w~K to be
<br />gefformed (l'~e~a~er ar the $~tions ac=ompenying the same shall in el~ way
<br />affect itS ololi086ons on thia bond: and it does horel~ ~mive fl·tics of any lug;Il ch·ngo,
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