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-� Bond No: 0606784
<br /> FAITHFUL PERFORMANCE BOND 11,598.00
<br /> Premium: �
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"},
<br /> San Mateo County, State of Califor„e f�inafte as designated e as the
<br /> Case Construction Inc. �
<br /> "Principai", a Cantract, the terms and provisions of which Contract are incarporated herein by
<br /> reference, for constructing the following project:
<br /> 2013-2414 WATERMAIN REPLACEMENT PROJECT
<br /> and
<br /> WHEREAS, said Principaf is required under the terms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract;
<br /> NOW, THEREFORE, we, the Principaf, andinternational FidelitY Insurance Comnanyas
<br /> surety, are held and firmly bound unto City, San Mateo County, California, in the pena! sum of
<br /> Eight Hundred Fifity-Nine Thousand Eight Hundred Twenty and No/100 Dollars ($ 859,820.00 }, lawful money
<br /> of the United States, being ane hundred percent (100%) af the Contract amount, for the
<br /> payment af which sum wefl and truly to be made, we bind ourselves, nur heirs, executors,
<br /> administrators and successors, jointly and severally, firmly by these presents.
<br /> THE CONDITtON OF THIS OBLIGATION tS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shal! in all things stand to and abide
<br /> by, and will truly keep and faithfully perform the covenants, conditions, and �greements in the
<br /> said Contract and any alterations made as therein provided, on his or their p�rt, 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 nu11 and void; otherwise it shafl be and remain in fulf force and
<br /> virtue.
<br /> As a condition precedent to the satisfactory compfetion of the said Contract, #he above
<br /> obligation shall hold good for a period of one (1) year after the completion and acceptance of
<br /> the said work, during which time if the above bounden Principal, his or its heirs, executors,
<br /> administrators, successors or assigns sha(I fail to make full, complete and satisfactory repair
<br /> and replacements or totally protect the said City from loss or damage made evident during said
<br /> period of one (1) year from the date of acceptance of said work, and resulting from ar caused by
<br /> defective materials or faulty workmanship, in the prosecution of the work done, the above
<br /> obligation sha(I be and remain in fiulk force and virtue.
<br /> And the said Surety, for value received, hereby stipulates 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 it
<br /> daes hereby waive notice of any such change, e7ctension af time, alteration or addition to the
<br /> terms of the Contract, or to the wark, or to the Specifications.
<br /> In the event City, or its successors or assigns, shall be the prevailing party in an action brought
<br /> upon this bond, then, in addition to the penal sum hereinabave specified, we agree to pay to the
<br /> said City, or its successors or assigns> a reasonable sum on account of attorney's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> 2013-2014 WATERMAIN REPLACEMENT PROJECT
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