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BOND N0.: 57BCSG01667
<br /> PREMIUM:$y,$70.00
<br /> FAITHFUL PERFORMANCE BOND
<br /> KNQW ALL A�EN BY THESE PRESEfdT3: that,WHEREAS, the Cit�r of Redwc�od Cf�t ("Clty'�,
<br /> 5an iVlateo County, State of Callfvrnia, has awarded ta K.J.WOODS CONSTRUCTION, INC.
<br /> hereinaf�er deslgnated as the"PrinclpaE", a Contract, the terms a►�d provislons of whi�Ft Contract
<br /> are inoorporated herein by reference, for oonstrt�d�ng the FoElowing project:
<br /> SEWER FORCE MAIN REPLACEIIRENT PROJEGT
<br /> ��ROm P.s.�� To a�Hy
<br /> a�a
<br /> WHEREAS, sald principal is required under the terms of said Contract to fumish a 6ond for the
<br /> fa(tMu! pe�formance of sa�d Contrack;
<br /> N�VII,TNEREFORE, W@, the Principal, flnd HARTFORD FIRE INSURANCE COMPANY � aS SU�ty, are held
<br /> and firmly bound urrto C�yy, San Mateo County, Califomfa, in the penal sum of
<br /> TWO HUNDRED SIXTY EIGHT THOUSAND DOLLARS AND ZERO CENTS
<br /> ($ $2ss,000.00 ), lawFul money of the Un�ted States, being one hundred perc�ent
<br /> (100%) of the Contract amount, for the payment of whlch sum wetl and truly to be made, we �
<br /> bind oursehres, our heirs, executors, administrators and successors, Joir�tiy and severa�ly, �rmly
<br /> by these presents.
<br /> THE CONDITION OF THIS OBLIGATI�N IS SUCH, t�at if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns� shal{ in all thing� stand ta ancl abide
<br /> by, and wlll truly keep and faithfully perform the covonants, condi�ons, and agreemen� in the
<br /> said Contract and any alterafians made as thereln provldecf, on his ar their part, to be kept and
<br /> performed at the time and in the manner the�ein specified, and in all respects accordfng to their
<br /> true Intent and mean[ng, and shafl ir�demn'�jr and save harmless City, its Council,
<br /> Comm�sioners, boards, cammiitees. officers, emplayees and agents, as ther�n s�pulated,
<br /> then this obl�atton sha!! be null and vo{d; otherwise It shal! be and r+emain in fuE! force and
<br /> v�rtue.
<br /> As a condit�on prec�dent to the satisfactory vampletion of the said Conb�act, the above
<br /> obligadon shap hold good for a period of one (1) year after the comple�o� and acveptance of
<br /> the said work, during which pme if the above bourxien principal, his ar its heirs, executors*
<br /> adm{nlstrators, successors or assigns shal! fail to make full, compiete �nd sa�sfactory repair
<br /> and replacements or tatal�r protsct the said City from lass or damage made ev�dent during said
<br /> per�od of one (7)year f�om the d�e of acceptanc3e of said wark, and resulting from or caused 6y
<br /> defectiVe materiaEs or faulty woricmanship, in the prosecution of the ►nrork done, the above
<br /> obligatfon shall be and remain in full force and virtue.
<br /> And the said Surety,for value rece�ed, hereby etipulates an�d agrees ta wa{ve the prvvlskons of
<br /> California Civi!Code Section 2819 regarding oonsent to change, extens�on of time, alteration, or
<br /> addidon to the terms�of the Co�tract or to the work to be pertormed thereunder, or the
<br /> Specifica�ons accompanying the same shall in any way affect its obligations on this bond;and it
<br /> does hereby walve notice of any such change, exte�s�O� of time, alteration or ac�dition to the
<br /> terms of the Contract,or to�e work, or to the Spec�ications.
<br /> In the event Clry, or!ts sucoessors or assig�s, shall be the prevalEing party in an action brought
<br /> upon thls bond, tt�en, In addition to the penal sum hereinabove specified, we agree to pay#o the
<br /> SEINER F�RCE MAIN REPLACEMENT PROJECT
<br /> (�RORA P,S.#1 Ta MFt}
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