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RESOLUTION NO. P- 2098 <br /> RESOLUTION ACCEPTING THE HINMAN ROAD PAVEMENT IMPROVEMENT <br /> PROJECT AND AUTHORIZING RELEASE OF PAYMENT AND PERFORMANCE <br /> BONDS PURSUANT TO THE TERMS OF THE CONTRACT WITH EL CAMINO <br /> PAVING, INC. <br /> WHEREAS, the City of Redwood City, by and through its Board of Port <br /> Commissioners, and El Camino Paving, Inc. entered into an agreement (the "Contract") <br /> for the Hinman Road Pavement Improvement project (the "Project"); and <br /> WHEREAS, the Contract was approved by the Board of Port Commissioners on <br /> October 22, 2008; and <br /> WHEREAS, the physical work to be performed by El Camino Paving, Inc. has <br /> been completed; and <br /> WHEREAS, this Board desires to evidence the completion of the work of <br /> improvement by El Camino Paving, Inc. by approving a resolution accepting the Project; <br /> and <br /> NOW, THEREFORE; <br /> BE IT RESOLVED BY THE BOARD OF PORT COMMISSIONERS OF THE <br /> CITY OF REDWOOD CITY AS FOLLOWS: <br /> 1. The Project has been completed. <br /> 2. The City of Redwood City, by and through its Board of Port Commissioners, <br /> hereby accepts the Project. <br /> 3. The Port Executive Director is hereby authorized and directed to file a <br /> Certificate of Acceptance with the San Mateo County Recorder's Office to evidence <br /> completion of the Project. <br /> 4. Acceptance of the Project is not, and shall not in any way be construed as, a <br /> waiver of any and all causes of action that the Port has or may have against any party in <br /> connection with the Project. <br /> 5. The Port Executive Director is hereby authorized to release payment legally <br /> owed, if any, including any retention, if any is legally owed, to El Camino Paving, Inc. or <br /> any third party entitled to said payment(s), according to the terms and conditions of the <br /> Contract and according to law, subject to the Port Attorney's approval, provided that no <br /> stop notice or other legal request for payment is received by the Port within the time <br /> allowed by law. <br /> 6. The Port Executive Director is hereby authorized, if and when appropriate, to <br /> release the Payment and Performance bonds, pursuant to terms and conditions of the <br /> -1 - <br /> Port/Reso <br /> Reso 161 <br /> 05/26/2010 <br /> FXS/fs <br />