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Bond No.: 0573449
<br /> Premium: $3,310.00
<br /> FAITNFUL PERFORMANCE BOND
<br /> ,
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City ("City'�,
<br /> San Mateo County, State of Califomia, has awarded to Casey Construction, Inc.
<br /> herelnafter designated as the"Principal", a Contract, the terms and provisions of which Contract
<br /> are incorporated herei�by reference,for constructing the following projecT.
<br /> PUMP STATION #25 AND ADDtT10NAL PUMP STATION IMPROVEMENTS
<br /> and
<br /> WHEREAS, said Principal is required under the tertns of said Contract to furnish a bond for the
<br /> faithful performance of said Contrect;
<br /> Intemational Fideiity Insurance Company
<br /> NOW, THEREFORE,we, the Principal, and as surety, are held
<br /> and firtniy bound unto City, San Mateo County, California, in the penal sum of
<br /> One Hundred Fifty-three Thousand Nine Hundred Eiqhty and No/100 �
<br /> t$ �53,980.00 ), lawful money of the United States, being one hundred percent
<br /> (100%)of the Contract amount,for the payment of whish sum well and truly to be made,we
<br /> bind ourselves, our heirs, executors, administrators and successors,jointly and severaify, firmly
<br /> bythese presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH,that if the above bou�den Principal, his or
<br /> fts heirs, executors, administrators, successors or assigns, shall in all things stand to and abide
<br /> by, and will truly keep and faithfully pertorm the covenants, conditions, and agreements in the
<br /> said Contract and any alterations made as the[ein provided, on his or their part,to be kept and
<br /> pertormed at the time and in the manrter therein spec'�ed, and in ail respects according to their
<br /> true intent and meaning, and shall indemnify and save hartnlesg City, its Council,
<br /> Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br /> then this obligation shall be null and void; othervvise ft shall be and remain in full force and
<br /> virtue.
<br /> As a condition precedent to the satisfactory compietion of the said Contract,the above
<br /> obligation shali hoid 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 /> administretors, successors or assigns shall faii to make full, complete and satisfactory repair
<br /> and replacements or totally proted the said Cky 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 fauity workmanship, in the prasecution 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 /> Cal'rfomia Civil Code Section 2819 regarding consent to change, extension of time, atteration, or
<br /> addition to the terms of the Contract or to the work to be performed thereunder, or the
<br /> Specfications accompanying the same shall in any way affect its obligations on this bond; and R
<br /> does hereby waive notice of any such change, extension of time, altera4ion or addition to the
<br /> tertns of the Contract, or to the work, or to the Specifications.ln the event City, or its successors
<br /> or assigns, shall be the prevailing party in an action brought upon this bond, then, in addition to
<br /> FAITHFUL PERFORMANCE BONO 1
<br /> PUMP STATION#25 AND AD4RtONAL PUMP
<br /> STATIONIMPROVEMENTS .
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