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1 Bond # CA1511340
<br /> �
<br /> Premium: $6,609.00
<br /> FAITHFl1L PERFORMAN�E BdND
<br /> KN4W AL� MEN BY THESE PRESENTS: that, WHEREAS, the Ci#y of Redwood City ("City"),
<br /> San Matea Coun#y, State of Califarnia, has awarded to
<br /> soil Engineering Construction Inc. , hereinafter designated aS thE
<br /> "Principal", a Contraot, the terms and provisions of which Contract are incarporated herein by
<br /> reference,for canstructing the follawing praject:
<br /> FtEDWOOD CREEK CHANNEL WALL REP�ACEMENT PROJEGT
<br /> and
<br /> WHEREAS, said Principal is required under the terms of said Contract to fumish a bond for the
<br /> faithful petfarmance of said Contract;
<br /> NOW, THEREFORE, We, th@ Principaf, an� Great American Insurance Company ag
<br /> sureiy, are hefd and firmly bound unto Cit�r, San Mateo County, Califomia, in the penal sum of
<br /> Three Hundred Seventy Three Thousand Nine Hundred Fi ty Eight p���a� �� 373,958.00* ) �awful mortey
<br /> of the United States, being one hundred percent (100%} of the Contract amaunt, for the
<br /> payment of which sum well and truly to be ms�de, we bind ourseives, our heirs, executors,
<br /> administr�tors and successors,jaintly and severally, �rmly by these presents,
<br /> THE CaNDITiON QF THI$ f]BLIGq710N IS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, suc�essors or assigns, shalt in a!I things stand to and abide
<br /> by, and will truly keep and faithfuNy perform the co�en�nts, conditions, and agreements in khe
<br /> satd Contract and any alteratians made as therein provided, an his dr their part, to be kept and
<br /> performed at the time and i� the manner therein specified, and in all respects according to their
<br /> tcue inten# and meaning, and sh�ll indemnify and save harmless City, its Gouncal,
<br /> Commissioners, boards, committees, officers, �mployees and agents, as therein stipulated,
<br /> then this obiigation shall be nulf and void; ott�erwise it shall be and remain in full #orce and
<br /> virtue.
<br /> As a condition precedent to the satisfackory completion of the said Contract, the above
<br /> obligati�n shall hold good for a period of one (1} year after the comptetion and acceptance af
<br /> the said worlc, during which time if the above bvund�n Prinupal, his or its heirs, executors,
<br /> administrators, successors ar assigns shall fail ta m�ke full, complete and sa#isfactory repair
<br /> and replacements or totally protect the said City#rom lass or damage made evident during said
<br /> period of one {9)ysarfrom the date of acceptance of said work, and resu�ing from or caused by
<br /> defective materials ar faulty workmanship, in the prosecution of the work done, the abave
<br /> obligation shall be antt rema;n 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 Sectian 2819 regarding consent to chang8, extensipn of time, alteration, or
<br /> adciition to the tetms of the Contract or to the work to be performed thereunder, pr the
<br /> Specifications accompa�nying the sam�shail in any way affect its obligati�ns on this band; and �
<br /> does hereby waive notice of any such change, extension of time, atteratfon a� addition tv the
<br /> terrns of the Contract, or to the wark, or to#he Specifications.
<br /> In the event City, or ics successors or assigns, shall be the prevailing party in an action brough#
<br /> upon this band, then, in addition to the penal sum herein$bove spec�ed, we agree to pay to the
<br /> said City, or 'tts successors or assigns, a reasonable sum on accounf of attorney's fees in such
<br /> action,which sum shafl be fixed by#he caurt.
<br /> REDWOOd CREEK CFWNNEI WALI REPLACEM�N7 pF20JEC7
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