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<br /> , Bond No: 10004794
<br /> • Premium: $250.00
<br /> FAITHFUL P�F�FORMANCE BOND
<br /> KNOW ALL MEN 8Y THES� PRESENTS: th�#, WHEREAS, the City of Redwapd �ifiy("City"),
<br /> San Mateo County, Sta#e of CaiiFomia, has awarded to
<br /> Nichols Diamond Tool Inc. , hereinafter designated as #he
<br /> "Principal", a Can#ract, the terms �nd provisions afi wt�ioh Confract are incorporated herein by
<br /> referenr,�, far canstructing the follawing project:
<br /> R�QWOOD CITY PUBLIC I�IBRARY
<br /> CONCRET�WALL PEN�TRATION
<br /> 9044 MIDpLEFIEL� R�AD
<br /> WHEREAS, s�id Principal is required under the terms of said C�ntract ta 'fumish a bond for the
<br /> faithfui perfarmance of said Cantract;
<br /> NOIN� THEREFQRE, we, the Principal, and Hudson Insurance Company � a�
<br /> surety, 2re held and firmly bound unto City, San Matea County, California, in the penal sum of
<br /> Nine Thousand Seven H_undred Thirt -Five and No/100,p�ffars (�9 735.00 ), lawful maney
<br /> af the United States, being one hundred percent {1qp°fo) of the Cantract a�mount, for the
<br /> p�yment of which Sum welf and truiy to be made, we bind ourselves, our heirs, executors,
<br /> administrators and successors,jointly and severally, firmfy by these presen#s,
<br /> THE CdNDITION �F THIS QBLIGATIpN IS SUCH, that if fhe above boWnden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in all things stand #o and abide
<br /> by, and wi(I truly lceep and faithfulfy perform the Covenants, cpnditions, and agreements in the
<br /> said Contract and any alterations made as therein pr�vided, on his or#heir part, fa be kept and
<br /> performed at the time and in the manner therein specified, and it� all respects according to their
<br /> true intent �nd meaning, and shall indemnify �nd save harmless Gity, its Council,
<br /> Commissioners, boards, cammittees, afficer5, employees and agents, as therein stipulated,
<br /> then #his obligation shall be null and void; otherwise it 5hall be and remain it1 full forCe and
<br /> virtue,
<br /> As a condition precedent to the satisfactary campletion of �he s�id Contract, the aba��
<br /> obligation shal! hold good for � period of one (1) year after the Completion and acceptance of
<br /> the seid work, during whiCh time if the above bounden Principal, his ar its heirs, executors,
<br /> administra#ors, successors ar assigns shall fail to make full, complete and satisfactory repair
<br /> and replacements or tat�lly prat�ct the said City from loss or damage made e�iden#during said
<br /> period of one (1) year from the date of ac�eptance of said uvork, and resulting fram or caused by
<br /> defective materiafs or faufty workmanship, in the prosecutian ef the work done, the above
<br /> oblig�tion shall be�nd remain in fu►I force and virtue.
<br /> And the said Surety, for v�lue received, hereby stipulates and agrees to waive the provisions of
<br /> California Civil Code Section 2$19 regarding Consent to change, extensivn of time, alteration, or
<br /> addition #o the terms of the Contract or to th� wark to be perfdrmed thereund�r, or the
<br /> Specifications accompanying the same shaii in any w�y afFeat its obligations on this bond; and it
<br /> does her�by wai�e riotice of any such change, extension of time, afteratian or addition to the
<br /> terms af the Gontract, or to the work, or to th� Specificatians.
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