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6.1.C. - Page 21
<br /> Exhibit B
<br /> �AI�'H�UL P�RFQRiittANCE BQND
<br /> Bond Na. 906t301665
<br /> KNOW ALL M�N BY TH�S� PRES�NTS: fhat, WHEREAS, the Cfiy af Redwaod City ("City"),
<br /> San Mateo County, State of California, #�as awarded to
<br /> BI2E Properties, Inc, hereinafter designated as the
<br /> "Principal", a Contract, the terms and provisions af which Confract are incorporaied F�ereir� by
<br /> reference, for constr�cting the following project;
<br /> 640 Veterans Boulevard Improvemen�s
<br /> and
<br /> WHEREAS, said Principaf is required undef the#errrts of said Contract#o furnish a bond for the
<br /> faithful performance af said Contract;
<br /> N�W, TH�REF�RE, W8, ��1@ �ftt1C[P��, a13{�Liberty Mutual Insc�rance Companv , �S
<br /> surety, are held and firmly bound unto Ciiy, San Mateo Cour�ty, Cal�fornia, in the penal sum Qf
<br /> -- - ,,,,.Y,.,.,,,.,_,...__ . * Dallars ($2,2s2,2�c�,,.oa--- ), lawf�l money
<br /> Two_Mil�ion Two Hundred F3£t �wo Thousand ,,.
<br /> of the Unitsd States, being one h�rndr�d percent ('f00%) of the Contract ama�ant, for the
<br /> payment of vuhich st�m well and truly to be made, we hind o�rsefves, �ur h�irs, executors,
<br /> administrators and successors,jointly and severally, firmly by these presen#s. �
<br /> �'H� CON�ITION OF THlS OBI,lGATION 15 SUCH, tha# if the above baunden F'rir�cipaE, his or
<br /> ifs heirs, executars, administra#ors, successars ar assigns, shall in all things stand to and abide
<br /> by, and will truly keep and faithfully perfarm the cflvenants, conditions, and agre�ments in the
<br /> said Contract ar�d any alteratlons made as therein provideci, on his or the�r part, to b� ke�t and
<br /> pe�Formed a# ihe time and In the manner therein speciflsd, and in ali r�spects according to th�ir
<br /> #rue intent and meanir�g, and s�all indemnify �nd sa�e harmless City, its Council,
<br /> Corr�r�nissioners, boards, c�mmittees, afficers, employe�s and agents, as #herein stiptalated,
<br /> then this obiigation shalf be nul( and void; othervuise it shali be and ramain €n full force and
<br /> virtue,
<br /> As a conditior� pcecedent to the satisfactory completian af the safd Contract, the above
<br /> obligation shall hald good for a period of one {1) year after the campletion and acceptance vf
<br /> the said wark, during which tim� if the �bove bounden Pr�ncipaE, his or its heirs, executors,
<br /> adrrtinistratars, successors or assigns shatl fail #o make full, complete and satisfactory repair
<br /> and replacements or totaliy protect the said City frarri loss ar darnage rnade evident during said
<br /> {�eri4d of one ('k) year from tf�e date of acc�ptance of said wor�t, and resuiting from�r caused by
<br /> defective materials ar faulty workmanship, in the prosecution of the work don�:, the above
<br /> obfigation shall be and remain in fu11 force and virkue.
<br /> And the said 5urety, for val�e rec��v�d, hereby stipulates and agrees ta waive the provisions of
<br /> California Civil Cod� Secti�r� 2899 r�garding consenk to change, extension of 4im�, alteration, or
<br /> addition to the ferms of the Contract or to ttte work to be perforrt�ed thereunder, nr the
<br /> Specifica#ions �ccorr2panying the same shall [rt any way �ffect its obligations on this band; and it
<br /> dQes hereby waive notice of any such change, extension of time, alteration ar additlon to the
<br /> t�rms oi the Cont�act, or tv the work, or to the Specifcations.
<br /> !n the even# City, or its succ�ssars ar�ssigns, shall �e the prevailing par�y in an ackior� broughf
<br /> upo� this bond, then, in addEtion to #he penal sum E�ereina�ove specified, we agree to pay to the
<br /> * �tvo Hundred �'i.fty and No/100
<br /> __ ... . .._. _ .AT�YlAC3Rl2013;0051690 VET�RAN5IMPROV�Nl�NTAGR�EMENT........ . ... . _...... _. .. .. ... ........._......... . _..
<br /> REV:01-09-13 V32
<br /> f age 15 of 18
<br />
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