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+ � � Bond # CA1511340
<br /> Premium included in performance bond
<br /> PAYMENT B�NQ
<br /> KNOW ALL MEN BY 7HESE PRESENTS: That we, Soil Engineering Construction Inc.
<br /> as Ptincipal, and� Great American Insurance Company organized �f1C�
<br /> existing under the laws of the State of �i�
<br /> on�o , and authoriz�d to execute
<br /> bands and undertaking as sole surety, as Surety, are held and firmly bound unto any and al�
<br /> persons named in Califvmia Civil Code Section 3181 whvse claim has not been paid by the
<br /> Contrador, company or Carp�ration in the aggregate total of
<br /> Three Hundred Seventy Three Thousand Nine Hundred Fift Ei ht Dollars {$ 373,958.00 {being
<br /> 100°10 of the Contract amount) f4r the payment whereof, weil and truly to be made, said
<br /> Principal and Surety bond themselves, their heirs, administrators, successars, and assigns,
<br /> jointly and severally,flrmly by these presents.
<br /> THE GQNDIT40N QF TFIE ��REGOlNG OBLIGATION IS SUCH that, whereas the above with
<br /> the City of Redwoad City ("City'�to do the foflowing work, to-wit:
<br /> REDWOOD CREEK CHANNEL WALL REPLACEMENT PROJECT
<br /> NOW, THEREFORE, if the above-bounden Principal or his subconiractors fail to pay any of the
<br /> persons named in Sectian 31$1 of the Civil Code of the Sta#e of Califomia, or arnounts due
<br /> under the U�employment Insurance Code wiih respect to work or faboc perFarmed under the
<br /> Contract, or for any amounts required ta be deducted, withheld, and paid vver to the
<br /> Employment Development Department from the wages of employses of the Contractor and his
<br /> subcontractor pursuant to Sec:tipn 1302d of the Unemployment Insurance Code of the State of
<br /> Galifomia, with respect to such work and lat�or, the surety wiH psy for the same, in the amount
<br /> not exceeding the sum specified in this bond, and also, in case suit is brought upan this bond, a
<br /> reasonable attamey's fse, ta be f�xed by the Court.
<br /> This bond shall inure to tfie benefit of any person named in Seation 3181 of the C'tvil Code of the
<br /> State of Califomia so as to give a right �f action to them or their asslgnees in suit brought upan
<br /> this bond.
<br /> This bond is executed and filed to ctimply with the provisions a�f the act of the Legislature of the
<br /> State of California as designated in Civil Code Sections 324?-3252, inclusive, and all
<br /> amendments thereto.
<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 alteraiion, or
<br /> addition to the terms of the Contract, or to the work to be performed thereunder, or the
<br /> Specificat�ons accompanying the same, shall in any way affect its obligatians on this bond; and
<br /> it does hereby waive notice of any such change, extension of time, alteration, or �dditian to#he
<br /> terms of the Contract, ar to the work, or to the Specifications.
<br /> And the said Surety, far�alue receiv�d, hereby stipulates anci agrees t�waive the pravisions of
<br /> Califomia Civil Code Section 2819 regarding consent to change, extensian of tim� alteration, or
<br /> addition to the terms of the Contract, or to the work to be perfonned thereunder, or the
<br /> Specifications accompanying the same, shall in any way affect its obligations t�n this bond; and
<br /> it does hereby waive notice of any such change, extension 4f time, alteration, or addi�ion to the
<br /> terms of the Cantract, ar to the work, or to the Specificatians.
<br /> REDWOOD Ct2EEK CNANS+I�L,WALI REPLACEMENT PRbJEC7
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