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BOND N0. 09110061
<br /> PREMIUM: $1,469.00
<br /> FAfTFiFUL PERFOFZNIANCE BOND
<br /> KNOW ALL hllE�l BY THESE 6�RESENTS: that, WH�REAS, the City of Redwood City("City"),
<br /> San Mafeo County, State of Califo�nia, has awarded to
<br /> VALENTINE CORPORATTOPT , hereinafter designated as the
<br /> "Principal", a Contract, the terrns and pravisions of which Con#ract are incorporated herein by
<br /> reference, fior canstructing the following project:
<br /> EL CAMIN4 R�AL STORM DRr41�d &WATER MAlN REHABILITATION PROJECT
<br /> and .
<br /> WHERLAS, said Principal is required under the terms of said Contract to furnfsh a bond for the
<br /> faithful perForrnance of said Contract;
<br /> N�W, THEREFORE, we, the Principal, and��� � D�osTT c�� oF � �5
<br /> surety, are held and firmly bo�nd unto City, San Mateo County, Califarnia, in the penal sum of
<br /> ONE HUNDRED NINETEEN THOUSAND, NINE HUNDRED FIFTY Doliars ($ 119,950.00 )� Iawful money
<br /> of the United States, being one hundred percant (100%) of the Contract amount, far the
<br /> payment of which sum well and truly to be made, we bind ourselves, our heirs, executors,
<br /> administra#ors and successors, jointly and severally, firmly by these presents.
<br /> THE C4NDITi4N OF THIS OBLIGATION IS SUCH, that if the above bounde� Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in a11 things stand to and abide
<br /> by, and will truly {ceep and faithfully perform the covenants, conditions, and agreements in the
<br /> said Contract and any alterations made as therein provided, on his or th�ir part, ta be kept and
<br /> pertormed at the fime and in the manner therein specified, and in all respects according to their
<br /> true intent and meaning, and shall indemnify and save harmless City, its Council,
<br /> Commissioners, boards, cammittees, ofFcers, employees and agents, as therein stipulated,
<br /> ti��n this abligation shall be �ull and void; othErwisa it shall be and remain in fu11 force and
<br /> virtue.
<br /> As a condifiion precedent to the satisfactory completion af the said Contract, the above
<br /> obligation shall hold good for a period of one (1) year after the completian 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 Ioss or damage made evident during said
<br /> period of ane (1) year fr�m the date of acceptance of said work, and resulting from or caused by
<br /> defective materials or faulty workmanship, in the prosecution of the worlt done, the above
<br /> abliga#ian shall be and remain in fu11 force and virtue.
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br /> Cafifornia Civii Code Section 2819 regarding cansent to change, extension of time, alteratian, ar
<br /> addition to the terms of the Contrac# or to the work to be performed thereunder, or the
<br /> Specifications accompanying the same sha11 in any way affect its abligatians on this bond; and it
<br /> daes hereby waive notice of any such change, extension of time, alteration ar add►tion to the
<br /> terrns of the Contract, ar to the work, or to the Specifications.
<br /> In the event Ci#y, or its successars or assigns, shall be the prevailing parly in an action brought
<br /> upon this bond, then, in addition to the penal sum hereinabove specified, we agree to pay to the
<br /> sa€d City, or its successors ar assigns, a reasonable sum an account of attorney's fees in such
<br /> action, which sum shall be fixed by the court,
<br /> FAITHFUL PERFOftMANCE BOND 0061�-1
<br /> EL CAM1N0 REAL STORM DRAIN�WATER MAIN REFlABIL1TATION PROJECT
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