Agmt14 Ascent Elevator Services, Inc.

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f Bond Number:724846P PAYMEPIT BOND Premium: Included KNOW ALL MEN BY THESE PRESEIVTS: -T�hat we, Ascent Elevator Services, Inc. as Principal, and, Developers Surety and Indemnity Company organized and existing under the laws of khe State of California ,and authorized to execute bonds and unde�taking as sole surety, as Surety, are held and firmly bvund unto any and all persons narned in California Civil Code Section 3181 pany or , corporation in the aggregate total of si two thousand and 00/100 Dollars {$62.000_00 } (being 100% of the Contract amount) for the payment whereof, well and truEy to be made, said Principa! and Surety bond fhemselves, their i�eirs, adrninistrators, successors, and assigns, jointfy and severally,firmfy by these presents. THE CONDITION OF TME FOREGOING OBLIGATION lS SUCFi that, whereas the above with the City of Redwood City("City"j to do the following work, to-wik: MARSHALL STREET GARAGE ELEVATOR R��URBISHMENT PROJ�CT NOW, THERE�'ORE, if fhe above-bounden Principal or his subcontractors fail to pay any of the persnns named in Section 31 g1 of the Civil Code of the State of California, or amounts due under the Unempfoyment Insurance Code wift� respect to work or labor performed under the Contract, or for any amount� required to be deducted, withheld, and paid over to fhe Employment Development bepartment from the wages of employees of the Contractor and his subcontractor pursuant to Section 13024 of the Unemployrnent Insurance Code of the 5tate of California,with respect to such work and labor, the surety wllE pay for the same, in the amount not exceeding the sum specified in thls bond, and also, i� case suit is brought upon this bond, a reasonable attomey's fee, to be fixed by the Court. This bond shall inure to the benefit of any person named in Section 3189 of the Civil Gode of the State oP : CalifomEa so as to give a right of action to them or fheir assighees in suit brought upon this bond. Thls bond is executed and filed to comply with the provisions of the act of the Legislature of t�e State of California as designated in Civil Code Sectlons 3247-3252, inclusive, and all amendments thereto. And t�e said Surety, for value received, hereby stipulates and agrees to waive the provisions of California Civil Code S�ction 2819 regarding consent to change, extension of time alteration, ar addition to the terms of the Contract, or to the work to be perforrned fihereunder, or the Speclfications accompanying the same, shall in any way affiect its obligations on this bond; and it does hereby waive notice of any such change, extension of time, alterafion, or addition to the terms of the Contract, or to the work,or to the Specifications. jSignature Page�ollows] MARSHALL STREET GARAGE ELEVATOR REFURBISFiMENT PROJECT