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RESOLUTION NO. P- 2181 . � � ; ; RESOLUTION ACCEPTING THE PORT SECURITY LIGHTING, CLOSED CIRCUIT TELEVISION (CCTV)AND TRANSPORTATION WORKER IDENTIFICATION CREDENTIAL (TWIC) PROJECT AND AUTHORIZING RELEASE OF PAYMENT AND PERFORMANCE BONDS PURSUANT TO THE TERMS OF THE CONTRACT WITH TENNYSON ELECTRIC, INC. WHEREAS, the City of Redwood City, by and through its Board of Port Commissioners, and Tennyson Electric, Inc. entered into an agreement (the "ContracY') for the Port Security Lighting, closed Circuit Television (CCT� and Transportation Worker ldentification Credential (TWIC) project (the "Project"); and WHEREAS, the Contract was approved by the Board of Port Commissioners on December 15, 2010; and WHEREAS, the physical work to be perFormed by Tennyson Electric, Inc. has been completed; and WHEREAS, this Board desires to evidence the completion of the work of improvement by Tennyson Electric, Inc. by approving a resolution accepting the Project. NOW, THEREFORE; BE IT RESOLVED BY THE BOARD OF PORT COMMISSIONERS OF THE CITY OF REDWOOD CITY AS FOLLOWS: 1. The Project has been completed. 2. The City of Redwood City, by and through its Board of Port Commissioners, hereby accepts the Project. 3. The Port Executive Director is hereby authorized and directed to file a Certificate of Acceptance with the San Mateo County Recorder's Office to evidence completion of the Project. 4. Acceptance of the Project is not, and shall not in any way be construed as, a waiver of any and all causes of action that the Port has or may have against any party in connection with the Project except as may be evidenced by a Settlement Agreement. 5. The Port Executive Director is hereby authorized to release payment legally owed, if any, including any retention, if any is legally owed, to Tennyson Electric, Inc. or any third party entitled to said payment(s), according to the terms and conditions of the Contract and according to law, subject to the Port Attorney's approval, provided that no stop notice of other legal request for payment is received by the Port within the time allowed by law. 6. The Port Executive Director is hereby authorized, if and when appropriate, to release the Payment and Performance bonds, pursuant to terms and conditions of the Contract and law, and subject to the Port Attorney's approval, within the time required by law. Port/Reso Reso 197 06/13/2012 FXS/fs �, ��.