|
BOND N0. SBA850816
<br /> FAlTHFUL PERFORMANCE BOND Premium: $4,180.00
<br /> Promium eaa�d pA
<br /> Find CpMISCt P1k�
<br /> KNOV+V ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> San Mateo County, State of Califomia, has awarded to
<br /> _CaQQiano General Engineering, Inc , hereinafter deslgnat8d as tl'te
<br /> "Princrpal", a Gontract, the terms and provisions af which Contract are incorporated herein by
<br /> reference, f�r canstructing the following project:
<br /> WATER MAEN SEESMiC IMPROVEMENT PRfJJEGT
<br /> and
<br /> WHEREAS, saicf Principal is required under the terms of said Contract to furnish a band far the
<br /> faithful perFormance of said Contract;
<br /> American Safety Casualty
<br /> NOW, THEREFORE, we, the Principal, and Tns an e Gompanv , as
<br /> surety, are held and firmly bound unto City, San Mateo County, Califomia, in the penal sum of
<br /> Two Hundred Nine Thousand and 02/100---- Dollars ($209,000.02 ), lawful money
<br /> of the Uniked States, being one hundred percent (100%} of the Contracf arnount, for the
<br /> payment of whicf� sum well ar�d truly to be made, we E�ind ourseives, our heirs, execu#ors,
<br /> administratars and successors,jointly and severally, firmly by t�ese presents.
<br /> THE CONDITION OF THIS OBLIGATION !S SUCH, that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide
<br /> by, and will tru�y keep and faithful�y perform the covenants, conditians, and agreements in the
<br /> said Contract and any alterafions rnade as therein provided, on his or their part, to be kept and
<br /> performed at the time 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, committees, officers, employees and agents, as therein stipulated,
<br /> then this obligation shall be nui! and voicl; othen+vise it shal! be and remain in full force and
<br /> virtue.
<br /> As a condition precedent to the satisfactory completion of the said Contract, the above
<br /> abfigation shal! hold gaod for a period of one (1) year after the completion and acceptance of
<br /> the said work, durirtg which time if the abave bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shall fail to make futl, complete and satisfactory repair
<br /> and replacements or tota(ly protect the said City from loss or damage made evident during said
<br /> �eriod of one {1) year fram the date of acceptance of said worlc, and resu�ting from or caused by
<br /> defective materials or faulty workmanship, in the prosecution of the work done, the above
<br /> abligation shall be and remain in full force and virtue.
<br /> And the said Surety, for value received, ttereby stipulates and agrees to waive the provisians of
<br /> California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br /> addition to the terms of the Cor�tract or to the warEc to be performed thereunder, or the
<br /> Specifications acccmpanyi�g the same shall in any way affect its obligations on this bortd; and it
<br /> does hereby waive notics of any sucn change, extension of time, alterafion �r addition to ti�e
<br /> terms of the Contract, or ta the work, or to the Specifications.
<br /> In the event City, or its successors or assigns, shal! be the pre�ailing party in an actian brought
<br /> upan this bond, then, in addition to#he penal sum hereinabove spec�ed, we agree ta pay to the
<br /> said City, or its successars or assigns, a reasonable sum on account of attorney's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> WATER M1IIAIN SEISMIC IMPROVEMENT PROJECT
<br /> l6d bbZOtitiZ 4�A
<br />
|