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Bond Number: 12098462
<br /> Premium: Included in Performance Bond
<br /> PAYMENT BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: That we,
<br /> American Asphalt Repair and Resurfacing Company, Inc.
<br /> as Principal, and, The Guarantee Company of North America USA organized and
<br /> existing under_ the laws of the State of Michigan
<br /> --------------------------------------------------------------------------------------------- , and authorized to execute
<br /> bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all
<br /> persons named in California Civil Code Sectian 3181 whose claim has not been paid by the
<br /> Contractor, company or corporation in the aggregate total of
<br /> One Million Two Hundred Nineteen Thousand One Hundred Fifty-Threep0l18fS ($ �,219,153.00------ ) (bBiftg
<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 /> 2012-2013 SLURRY SEAL PROJECT
<br /> NOW, THEREFORE, if the above-bounden Principal or his subcontrac#ors fail to pay any of the
<br /> persons named in Section 3181 of the Civil Code of the State of Galifornia, 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 deduc#ed, withheld, and paid aver to the
<br /> Employment Developmant Department from the wages of employees of the Contractor and his
<br /> subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the State of
<br /> Califarnia, 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
<br /> reasonable attomey's fee, to be fixed by the Court.
<br /> This bond shall inure to the benefit of any person named in Section 3181 af 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 ofi the Legislature of fhe
<br /> State of California as designated in Civil Code Sections 3247-3252, inclusive, and all
<br /> amendments thereto.
<br /> And the said Surety, for value received, hereby stipufates and agrees 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 performed thereunder, or the
<br /> Specifications accompanying the same, shall in any way affect its obligations on this bond; and
<br /> it does hereby waive notice of any such change, extension of time, alteration, or addition to the
<br /> terms of the Contract, or to the work, or to the Specifications.
<br /> BONDS UU61�-3
<br /> 2012-2013 SLURRY SEAL PROJECT
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