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<br /> Bond No: 0573426
<br /> Premium: $11,882.00
<br /> FAtTHFUk. PERFORMANCE BONL)
<br /> KNt)W ALL MEN BY THESE PRESEN7S: that, VI/HEREAS,the City af Redwoad City("C'rty"},
<br /> San Matea �oun#y, Sta#e of California, has awarded tc�
<br /> Casev Construction Inc. , hereinafter designated as th�
<br /> "Principal", a Contrac#, the terms and provisians of which Contra�t are incorpor�ted herein by
<br /> reference,for cQnstructing the follawing project;
<br /> 2012-2013 WATERMAiN REPLACEMENT PROJECT
<br /> and
<br /> WHEREAS, said Principa! is requiced unc3er the terms of said Contract ta furnish a bond far the
<br /> faithful performanc�of said Contract;
<br /> NQVtif, THEREFORE, we, the Principal, and�nternational Fidelity Insurance Compa�yas
<br /> surety, are held and firmly baur�r! unta City, San Matea County, California, in the penal sum o#
<br /> Eight Hundred�°T'hirty Eight Thousand One Hundred Seventy and No/100 DOIIafS ($$38.170.00 ), lawful maney
<br /> afi the United States, being one hund�ed percent (10�%} of the Contract amount, fior the
<br /> payrrrent of whrch sum wel) arrd #ruly to be made, we 6ind ourselves, our heirs, executors,
<br /> administrators and successors,jointly and severally, firmly by these presents.
<br /> THE C�NDlTIOM t?F THiS C3BLIGATlt7N IS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executars, administratc�rs, successors or assigns; sha11 in all #hings stand to and abicie
<br /> by, and will tnuly keep and faithfully pertorm the cavenants, canditions, and agreernents in the
<br /> said Gc�ntraet and any alterations made as therein provided, c�n his or fiheir part, to be kept and
<br /> pertorrrted at the time and in the manner therein specified, and in a(I respects �ccording to their
<br /> true intent and meaning, and shall indernni#y and save harmless City, its Councif,
<br /> Commissianers, boards, committees, afficers, employees and agents, as ther�in stipula#ed,
<br /> then this obligation sha�l be null and vaid; otheewise it shall be and remain in ful) forCe �nd
<br /> �ir#ue.
<br /> As a cflndition precedent to the sa#isfactory compietion of th� said Contract, the above
<br /> obligatian shalt hold �oad for a period of one {1) year after the cornpietian and acceptance �f
<br /> the said work, during which time if fhe aboVe bounden PrincipaE, his ar its heirs, executors,
<br /> administra#ars, successors or assigns shall fail to make full, complete and satisfactory repair
<br /> and repiacements or total{y protect the said Gity frorn ioss or damage made evitient durint� said
<br /> period of one {1}year from fhe date of acceptance of said work, and resulti�g frc�rn c�r caused by
<br /> defeetive rnaterials or faulty wor4cm�nship, in the prosecufion of the wark done, the above
<br /> abligation shal! be and remain in ful!force and virkue.
<br /> And the said Sure#y, #or value received, hereby stipulates and agrees to waive the provisians af
<br /> Califarnia Civil Code Section 2819 regarding consent to change, extensian of time, a[terafron, or
<br /> addition to the terms of the Contract or to the wark to i3e pe�formed thereunder, ar the
<br /> Specifications accompanying the same shal! in any way affect its abl�gatior�s on this bond; and it
<br /> does hereby waive no#ice of any such �hange, e�ension of time, aiteratior� or addi#i�n to the
<br /> terms of the Contract, 4r to the work, oc to the Specifica#ions.
<br /> !n the event City, or its successors �r assigns, shali be the prevailing party in an aetic�n brou�ht
<br /> upon this band, tt�er�, in addition to the penal sum heceinabove s�ecified, ure agree to pay to the
<br /> said City, or its s�ccessors ar assigns, a reasonable sum on account of attorney's#'ees in such
<br /> action, which sum shall be fixed by the court.
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