|
Sep�G6 12 02:20p Weber Tractor Service 6503687631 p.6
<br /> Bond No: 71321307
<br /> Premium: $1, 601 . 00
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City af Redwood City("City"),
<br /> San N�afeo County, State of California, has awarded to
<br /> weber Tractor Services , hereinafter designated as the
<br /> "Principal", a Contract, the terms and pravisions of which Contract are incorporated herein by
<br /> reference, for constructing the fallowing project:
<br /> VALLEY GUTTER PROJECT(JEFFERSON AVE �CLINTON ST)
<br /> and
<br /> WtiEREAS, said Principal is requirsd under the terms of said Contract to fumish a band far the
<br /> faithful perFormance of said Contract;
<br /> NOW, THEREFORE, we, the Principal, a�d western Surety Company , as
<br /> surety, are held and firmly bound unto City, San Mateo County; Califomia, in the penal sum of
<br /> Fift -Three Thousand Three Hundred Fifty-Eight and rro/iooDollars ($ 53 , 358 . ��____�, lawful money
<br /> ; of the United States, being one hundred percent {1�0%) of the Contract amount, for the
<br /> payment of which sum well and truly to be made, we bind aurselves, our heirs, executors,
<br /> � administratars and successors,jointly and se�erally, firmly by these presents.
<br /> THE CONDITiON OF TH1S OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br /> I its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide
<br /> I by, and will truly keep and faithfu[fy pe�form the covenants, conditions, and agreements in #he
<br /> � said Contract and any alterations made as therein provided, on his or their part, to be kept and
<br /> ; perFormed at the tirne and in the manner therein s�ecified, and in all respects according to their
<br /> � true intent and meaning, and shaE[ indemnify and save harmless City, its Council,
<br /> Commissioners, boards, committees, officers, employees and agents, as therei� stipula#ed,
<br /> then this obligation shall be null and vaid; otherwise it shall be and remain in full force and
<br /> virtue.
<br /> As a condition precedent to the satisfactory campletion of the sai Contract, the above
<br /> j obligation shall hold good for a period of one (1) year after the comple ion and acceptance of
<br /> � the said work, during which time if the above bounden Principal, his r its heirs, executors,
<br /> administrators, successors or assigns shall fail to make full, complete nd satisfactory repair
<br /> I and replacements or totally protect the said City from foss or damage made evident during said
<br /> i period af one {1) year fram the date of acceptance of said work, and resulting from or caused by
<br /> i defective rnaterials or faulty workmanship, in the prosecution of the work done, the abave
<br /> � obligation shall be and remain in fuEl force and virtue,
<br /> � And the said Surety, for value recei�ed, hereby stipulates and agrees to waive the provisions of
<br /> I California Civil Code Sec�ian 2819 regarding consent to change, extensian of time, afteration, or
<br /> � addition to the terms of the Gantract or to the work to be performed thereunder, or the
<br /> , Specifications accompanying the same shall in any way affect its obligations an this bond; and it
<br /> I does hereby waive natice of any such change, extension of time, alteration or addition to the
<br /> terrns of the Cor�tract, or to the work, or to the Specifications.
<br /> ! In the event City, vr its successors or assigns, shall be the prevailing party in an action brought
<br /> � upon th�s bond, then, in addition to the penal sum hereinabove specified, we agree to�pay to the
<br /> � said City, �r +ts successors or assigns, a reasonable sum on account of attorney's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> � VALLEY GUTTER PRaJECT(JEFFERSON AUE&CLINTON ST) �
<br /> �
<br /> �
<br />
|