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<br /> Bond Number: 106019633
<br /> ,� �
<br /> Premium: $14,146.00
<br /> FAITHFUI. P�RFORMANCE BOND
<br /> KN4W AL�. MEN BY THESE PRESENTS: that, WH�REAS, the City of Reciwaod City("City"),
<br /> San Mateo Caunty, State of California, has awarded to
<br /> Sanco Pipelines, Inc. , hereinafter designated as the
<br /> "Principal", a Contract, the terms and provlslons of which Contract are incorporated hersin by
<br /> reference,for cons#ructing the follawing project;
<br /> BAIR ISLAND STORM WATER RUMP STATI�N
<br /> and
<br /> WMEREAS, said Principal is required under the terms of sald Contract to furnish a bond for tha
<br /> faifhful performance of said Contract;
<br /> NQW, THEREFpRE, We, 1he Prineipal, a11d Travelers Casualry and Surery Company of Ameri�a ag
<br /> surety, a�e hafd and firmly bound unto Clty, San Mateo Caunty, California, in the penal sum of
<br /> One Nlillion Nine Hundred Thirteen Thousand------Dollars {$1,913,000.00------j, �awful money
<br /> of the United States, being one hundred percent {100%) of the Contract amount, for the
<br /> payment of which sum well and truly ta be made, wa bind ourselves, our heirs, executors,
<br /> administrators and successars,jointfy and severally, flrmly by these presents.
<br /> TNE CONDITION OF TMtS t7BLiGATION [S SUCH, that if the above bounden Principal, his or
<br /> Its heirs, executors, administratars, successors or assigns, shail in all things stand to and abide
<br /> by, and will truly kesp and faithfully pertorm the covenants, conditions, and agreements in the
<br /> said Contraat and any alterations made as thereln provfded, on his or their part, to be kept and
<br /> performed af the tlme and In the manner therein specified, and in all respects according to thelr
<br /> trua intent and meaning, and shall indernnify and save harmless City, its Councll,
<br /> Cammissioners, boards, cammiftees, officers, employees and agents, as therein stipufated,
<br /> then thls obligation shall be null and void; otherwise it shaif be and remain in full force and
<br /> vlr�us.
<br /> As a condition precedent ta the satisfactory completion of the said Contract, the abo�ee
<br /> obligation shall hold good for a period of one (1) year after the completion and acceptance af
<br /> the said work, during whlch time if the above bound8n Principal, his or its heirs, axecutors,
<br /> administrators, successors or asslgns shal! fail to make full, compiete and sat(sfacfory repair
<br /> and replacements or totally pratect the said City from foss or damage made evident during said
<br /> period of one (1) year from the date of acceptance of said work, and resulting from or caused by
<br /> defective materiafs or faulty workmanship, in the prosecution of the work done, the above
<br /> obligat9on sha�l be and remain fn full force and virtue,
<br /> And the said Surety, for value received, hereby stipulates and agrees fo waive the provlslons of
<br /> Cafifornia Civll Code Sectlon 2815 regarding consent to chan�a, sxtension of time, alteration, or
<br /> addition to the terms af 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 fhis bond; and it
<br /> does hereby waive nvtice of any such change, extension of time, alteratian or additfon to the
<br /> terms of the Con#ract, or#o the work, or to the Speciflcatlons.
<br /> In the event City, or its successors or assigns, shali b� the prevailing party in an action brought
<br /> upan this bond, then, in addition to the p�nal sum hereinabove spscified, we agree to pay to the
<br /> sa(d Cfity, or Its successors or assigns, a reasonabfe sum on account of attorney's fees in such
<br /> action,which sum shall be fixed by the caurt,
<br /> FAITHFUL PERFORMANC�BONi7
<br /> BAIR ISLANl7 STQRM WATER PUMP STATION
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