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Bond Number: SBA850502 I
<br /> Premium Included in that of the
<br /> Performance 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 /> as Principal, and, American Safetv Casualtv Insurance Companv-SBA organized and !
<br /> existing under the laws of the State of California
<br /> , and authorized to execute ;
<br /> bonds and undertaking as sole surety, as Surety, are held anci 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 Seventy-five Thousand Six Hundred Seventy and No/]00 Dollars ��2�5,670.00 Dollars ) (being
<br /> 100% of the Contract amount) for the payment whereof, well and truly to be made, said
<br /> Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, '
<br /> jointly and severally,firmly by these presents. ;
<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 /> REDWOOD SHORES LAGOON MAINTENANCE BOAT RAMP PROJECT
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<br /> NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the i
<br /> persons named in Section 3181 of the Civil C�de 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 emp3oyees of the Contractor and his ;
<br /> subcontractor pursuant to Section 13020 of the Unemployment lnsurance 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 i
<br /> reasonable attorney's fee, to be fixed by the Court. �
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<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 �
<br /> State of California as designated in Civil Code Sections 3247-3252, inclusive, and all �
<br /> amendments thereta
<br /> And the said Surety, for value received, hereby stipulates and a�rees 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 pertormed thereunder, or the �
<br /> Specifications accompanying the same, shall in any way affect.iis obligations on this bond; and i
<br /> it does hereby waive notice of any such changP, extension of time, alteration, or addition to the
<br /> terms of the Contract, or to the work, or to the Specifications.
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<br /> REDWOOD SHORES LAGOON MAINTENANCE BOAT RAMP PROJECT �
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