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<br /> ' Bond 929558898
<br /> Premium:$12,840.00
<br /> Issued in Triplicate
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> San Mateo County, State of California, has awa�ded to
<br /> McGuire and Hester hereinafter designated as the
<br /> "Principal", a Contract, the terms and provisions of which Contract are incorporated herein by
<br /> reference,for constructing the following project:
<br /> BLOCK 2 CU�VERT RELOCATION
<br /> and
<br /> i WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract;
<br /> NOW, THEREFORE, we, the Principal, and_ Western Surety Company , as
<br /> ure are held nd�i I�ba n un Ci S Mateo County, California, in the penal sum of
<br /> # �ne�PllionHuinc�re�c��Fii��Fi�ve�id�no/�$u��nc�wo D011afs ($ 1,995,235.00 �, 18wfUl m0118y
<br /> of the United States, being one hundred percent (100%) of the Contract amount, for the
<br /> payment of which sum well and truly to be made, we bind ourselves, our heirs, executors,
<br /> administrators and successors,jointly and severally, fiRnly by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or '
<br /> f its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide
<br /> by, and will truly keep and faithfully perform the covenants, conditions, and agreements in the ;
<br /> � said Contract and any alterations made as therein provided, on his or their part, to be kept and '�,
<br /> performed at the time and in the manner therein spec�ed, and in all respects according to their �
<br /> ' true intent and meaning, and shall indemnify and save harmless City, its Council, �
<br /> � Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br /> i then this obligation shall be null and void; otherwise it shall be and remain in full force and �
<br /> virtue. !
<br /> As a condition precedent to the satisfactory completion of the said Contract, the above '
<br /> ; obligation shall hold good for a period of one (1) year after the completion and acceptance of
<br /> the said work, during which time if the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make full, complete and satisfactory repair
<br /> and replacements or totally protect the said City 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 faulty workmanship, in the prosecution 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 /> Califomia Civil Code Section 2819 regarding consent to change, e�ctension of time, alteration, or
<br /> addition to the terms of the Contract or to the work to be performed thereunder, or the
<br /> Specifications accompanying the same shall in any way affect its obligations on this bond; and it
<br /> does hereby waive notice of any such change, extension of time, alteration or addition to the
<br /> terms of the Contract, or to the work, or to the Specifications.
<br /> In the event City, or its successors or assigns, shall be the prevailing party in an action brought
<br /> upon this bond, then, in addition to the penal sum hereinabove specified, we agree to pay to the
<br /> said City, or its successors or assigns, a reasonable sum on account of attomey's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> BLOCK 2 CULVERT RELOCATION PROJECT
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