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<br /> � Bond#SBA850300 �I
<br /> Premium included in that of performance
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<br /> bond !
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<br /> PAYMENT BOND !
<br /> KNOW ALL MEN BY THESE PRESENTS: That we, ;
<br /> Applied Water Resources Corporation '
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<br /> a5 PrinClpal, and, American Safety Casualty Insurance Company organized and '
<br /> existing under the laws of the State of California ,�
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<br /> , and authorized to execute �
<br /> bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all ''
<br /> persons named in California Civil Code Section 3181 whose claim has not been paid by the �
<br /> Contractor, company or corporation in the aggregate total of
<br /> Two Hundred Foriy-Three Thousand Nine Hundred Sixfy-Two and 00/lO�011al'S ($ 243,962.00 ) (being
<br /> 100% of the Contract amount) for the payment whereof, well and truly to be made, said i
<br /> Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, ;
<br /> jointly and severally, firmly by these presents. i
<br /> THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with �
<br /> the City of Redwood City ("City")to do the following work, to-wit:
<br /> BAIR ISLAND BAY TRAIL IMPROVEMENT PROJECT
<br /> NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the
<br /> persons named in Section 3181 of the Civil Code of the State of California, or amounts due �
<br /> under the Unemployment Insurance Code with respect to work or labor performed under the �
<br /> Contract, or for any amounts required to be deducted, withheld, and paid over to the ;
<br /> Employment Development Department from the wages of employees of the Contractor and his
<br /> subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the State of ',
<br /> California, with respect to such work and labor, the surety will pay for the same, in the amount �
<br /> not exceeding the sum specified in this bond, and also, in case suit is brought upon this bond, a �
<br /> reasonable attorney's fee, to be fixed by the Court. !
<br /> This bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the
<br /> State of California so as to give a right of action to them or their assignees in suit brought upon ,
<br /> this bond. '
<br /> This bond is executed and filed to comply with the provisions of the act of the Legislature of the I'
<br /> State of California as designated in Civil Code Sections 3247-3252, inclusive, and all ;
<br /> amendments thereto. I
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of �
<br /> California Civil Code Section 2819 regarding consent to change, extension 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 I
<br /> it does hereby waive notice of any such change, extension of tilne, alteration, or addition to the �
<br /> terms of the Contract, or to the work, or to the Specifications. !
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