Agmt12 Ranger Pipelines, Inc. - Laserfiche WebLink

Browse Search

• a ` . Bond #70003197 Premi�n: Included PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we,�g�' Pipelines, Incorporated as Principal, and, Liberty Mutual Insurance Ccanpany organized and existing under the laws of the State of Califomia, and authorized to execute bonds and undertaking as sole surety, as Surety, are he�d and firmly bound unto any and all persons named in Califomia Civil Code Section 3181 whose claim has not been aid ky the Contra or, co a o cor ration in the aggregate total ofEight hundred eigh�y five thousan� six�i.�in�re�d s�y-- pollars ( $885,660.00 ) (being 100% of the Contract amount) for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs, administrators, guccessors, and assigns,jointly and severally,fi�rnly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with the City of Redwood City ("City'�to do the following work, tawit: 2011-2012 SANfTARY SEWER REPLACEMENT PROJECT NOW, THEREFORE, if the above-bounden Principal or hi§ subcontractors fail to pay any of the persons named in Section 3181 of the Civil Code of the State of California, or amounts due under the Unemployment Insurance Code with respect to work or labor pertarmed under the Contract, or for any amounts required to be deducted, withheld, and paid over to the Employment Development Department from the wages of employees of the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the State of California, with respect to such work and labor, the surety will pay for the same, in the amount not exceeding the sum specified in this bond, and also, in case suit is brought upon this bond, a reasonable attorney's fee, to be fixed by the Caurt. This bond shall inure to the benefit of any person named in SeCtion 3181 of the Civil Code of the State of California so as to give a right of action to#hem or their assignees in suit brought upon this bond. This bond is executed and filed to comply with the provisians of the act af the Legislature of the State of Califomia as designated in Civil Code Sections 3247-3252, inclusive, and all amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of California Civil Code Section 2819 regarding consent to change, extension of time alteration, or additian to the terms of the Contract, or to the worlc to be pertormed thereunder, o� the Specifcations accompanying the same, shall in any way affect its abligations on this bond; and it does hereby waive natice of any such change, extension of time, alteration, or addition to the terms of the Contract, or to the work, or to the Specifications. 201 t-2012 SANITARY SEWER REPLACEMENT PROJECT