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<br /> Bond Numbex: 12101863
<br /> Premium: $1,874.00
<br /> FAITHFUL PERFORMl�NCE B4ND
<br /> KNOIN ALL M�N BY TH�SE PRESENTS: that, WHEREAS, the City of Redvuaod City ("City"),
<br /> San Mateo Counly, 5tat�of Califarnia, has awar�ded to &M Inc. ,
<br /> herein2�ter designated as the"PrincipaP', a Gontract, the terms and pravisions of which Contract
<br /> are incvrporafed herein by ref�rence, for constructing the following projact:
<br /> SANITARY SEWER AlR R�L�ASE VALVE REPLACEMENT PROJECT
<br /> and
<br /> UVH�REpS, said Principal is required under the terms of said Contract to furnish a bot�d for the
<br /> f�i�hful performance of said Contra�t;
<br /> N�W,'THEREFORE, we,the Prineipal� al'1(�The Guazantee Company of North America USA as surety, are held
<br /> and firmly bound unto City, San Nlst�o Coun#y, California, in the pen�) sum of
<br /> One Hundred TwentY-Four Thousand Nine Hundred Dollars-----------------------------------------------
<br /> ($124,900.00----------------------�, lawful money of the United States, being one hundred p�rcent
<br /> {100%} of the Cnntract amount, for the payment of which surr� W�II and ttuly to be made, we
<br /> bind ourselves, �ur h$irs, executors, administraiars and successors, jQintly and severally, frmly
<br /> by these presents.
<br /> TNE CaNDITIQN O�TM1S Q�L�CATION IS SUCH, that if the above baunden Principal, his ar
<br /> its hEirs, executors, administrators, successors or assigns, shall in al! things stahd to a�nd abide
<br /> by, a�d will tr�,�ly keep and faithfuUy p�rform the cavsnants, Gonditions, and agresmertts in the
<br /> said Confiract and any alfieratipns made as th�rein provided, ot1 his or their par�, to bE kept atld
<br /> pBrFormEd at the time and in the m�nner therein specified, and ih all resp�cts ac�ording to their
<br /> trU� intent and trleanirlg, �li� shall indemnify and save harmless City, its Council,
<br /> CQmmissioners, boards, �ommittees, officers, emplayees and agents, as therein stipulated,
<br /> then this obligafiion shall be null and void; otherwise it shall be and remain in full force and
<br /> virtue.
<br /> A$ a condition precedent to the satisFactory campletion of thE said Contra�t, the �bove
<br /> obligation shall hold good for � periad of one (1) year aft�r the completion and acceptance vf
<br /> the said work, during which time if the above bounden Principai, his ar its heirs, executors,
<br /> administrat4rs, successars or assigns shall fail to mak� full, complete and satisfactory repair
<br /> �rid r�placements or totally protect the sald City fram lass or damage made evident during said
<br /> period af one (1)year from the date of acceptance of said work, and resulting from �r caused by
<br /> defective materials or taulty warkmanship, in the prosecution of tha work dane, th� abovQ
<br /> abligation shal! be and rem�in in full force and virtue.
<br /> Artd the said Sul'ety, for value received, h�reby stipulates and agrees ta waive the provisions of
<br /> Cali'�ornia Civil Code Secfiion �$�19 regarding consent to change, extensi�n af time, alteration, ar
<br /> addition to the terms of the Cantract or to the work to be perfartned thereundcr, c�r the
<br /> SpecifiC�tions accompanying the same sh�ll in any vway afFect its obligations on this bond; and it
<br /> daes her�by waive notice o� any such change, extension of time, alteration or addition t� the
<br /> terms af the Contract, ar to the work, or to th� Specifications.
<br /> In the event City, or its successors or assigns, shall be th� prevailing parly ir� �r� action braught
<br /> upah this bond, then, in addifi�n ta the penal sum hereinabove specified, we agree to pay to the
<br /> SANITARY S�/VER AIR FZ�LEASE VALVE R�PL,ACEMENT PROJEGT
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