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<br /> Bond No. SSB0419272 �
<br /> Premium: $15,621.00 �
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City ("City'�,
<br /> San Matea Courity, Sta�e of Califomia, has awarded to Andes Construction, inc.
<br /> hereinafter des+gnated as the "Principa{", a ConMact, the terms and provisions of which ConVact
<br /> are incorporated he�ein by referencs, for constructing the following project:
<br /> 2011-2012 SEWER REHABILITATION PROJECT
<br /> and
<br /> WHEREAS, said Principal is required under the terms of said Contract to fumish a bond for the
<br /> faithful performance of said Contract;
<br /> NOW,THEREFORE, we, the Principal, and RLI Insurance Company , as surety, are held
<br /> and firmly bound unto City, San Mateo County, Calffomia, in the penal sum of
<br /> One million two hundred twelve thousand one hundred twenty& NO/100ths------------------------------
<br /> ($ �,2�2,�20.00 ), lawful money of the United States, b�ing one hundred peroent
<br /> (900%} of the Contract amount, for the payment of which sum well and truly to be made, we
<br /> bind ourselves, our heirs, executors, administrators and successo�s,joi�ly and severally, firmly
<br /> by these preserrts.
<br /> THE CONDITION OF TH1S C�BLIGATIDN IS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in all things stattd to and abide
<br /> by, and will truly keep and faithfully perform the covenants, conditions, and agresrnents [n the
<br /> said Contract and any alterations made as therein provided, on his o�their part, to be kept and
<br /> performed at the time and in the manner therein specified, and in all respects acc+�rding to their
<br /> true ititent and meaning, and shall indemnify and save harmless Cityr, its Cauncil,
<br /> Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br /> then this aWigation snall be null and void; otherwise it shall be and remain in full force anc�
<br /> v;rtue.
<br /> As a condition precedent to the satisfactory completion of the said ContracE, the above
<br /> obligation shall hold goad for a period of ane (1) year after the completion and acoeptance of
<br /> the said wor4c, during whicli time if the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns shalf fail ta make full, complete and satisfactory repair
<br /> and �eplacements or tatally protect the said City from loss or damage rnade evide�t during said
<br /> period of one (1)year from the date of acceptance of said work, and resulting from or caused by
<br /> defective materials or faulty workmanship, in the prosecution of the work done, the above
<br /> obligation shall be and remain in full force and virtue.
<br /> And the said Su�ety,for value received, hereby stipulates and agrees to waive the provisions of
<br /> Califomia Civil Code Section 2819 regarding cansent to change, extension af time, at#eration, or
<br /> addition ta the terms of the Cot�tract or to the work to be pertormed thereunder, or the
<br /> Spec�cations accompanying the same shall fn any way affect its obligations on this bond; and it
<br /> does hereby waive notice of any such change, extension of time, alteration or addition to the
<br /> terms af the Corrtract, or to the work, o�to the Specifications.
<br /> In the event City, ar its successors or assigRS, shall be the prevailing party in an action brought
<br /> upon this bond, then, in addition to the penal sum hereinabove specffied, we agree ta pay to the
<br /> 2011-2012 SEWER REHABl�ITATION PROJECT
<br />
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