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• Bond No: 0606798
<br /> Premium: $11,795.00
<br /> FAITHFUL PERFCIRMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City ("City"},
<br /> San Mateo County, State of California, has awarded to Casey Construction, Inc. ,
<br /> hereinafter designated as the"Principal", a Cantract, the terms and provisions of which Gontract
<br /> are incorporated herein by reference,for constructing the fallowing project:
<br /> 2013-2014 SANlTARY SEWER REHABiLITATION PROJECT
<br /> and
<br /> WHEREAS, said Principal is required under the#erms of said Contract to furnish a bond for the
<br /> faithful performance of said Contract;
<br /> NOW,THEREFORE, we,the Principal, and,Comna�tiYnal Fidelity Insurance ' as surety, are held
<br /> and firmly bound unto City, San Mateo Gounty, Califomia, in the penal sum of
<br /> Eight Hundred Twenty-Nine Thousand Five Hundred Sixteen and No/100 Dollars
<br /> ($ 829.516.00 ), lawful money of the United States, being one hundred percent
<br /> (100%} of the Contract amount, for the payment of which sum well and #ruiy to be made, we
<br /> bind ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly
<br /> by these presents.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shatl in aD things stand to and abide
<br /> by, and will #ruly keep and fiaithfully perform the covenants, conditions, and agreements in the
<br /> said Cantract and'any alterations made as therein provided, on his or their part, 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, cammittees, o�cers, employees and agents, as therein stipulated,
<br /> then this obligation shall be null and void; otherwise it shall be and remain in fufl force and
<br /> virtue.
<br /> As a condition precedent to the satisfactory completion of the said Contract, the 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 shall fail to make full, complete and satisfactory cepair
<br /> and replacements or totally protect the said City from loss or damage made evident duri�g said
<br /> period of one {1)year from the date ofi acceptance of said work, and resuiting from or caused by
<br /> defective materials or faulty workmanship, in the prosecution of the work done, the above
<br /> obligation shall be and remain in full 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 #o the tsrms of the Contract or to the work to be performed thereunder, or the
<br /> Specifications accompanying the sarne shal! in any way affect its obligations on this bond; and it
<br /> does hereby waive notice of any such change, extension of time, afteration or addition to the
<br /> terms of the Contract, or to the work, 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 addi#ion to the penal sum hereinabove specified, we agree to pay ta the
<br /> FAITHFULPERFORMANCE BOND 0061Q-1
<br /> 2013-2014 SANITARY SEWER REHABILiTATION PRpJECT
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