COLUMBIA ELECTRIC, INC. - Laserfiche WebLink

DocuSign Envelope ID: 4BE41ABD-CDC3-4DEF-91 DE -1 EFE877592DC Bond No. 30219283 Premium: Included in Perf. Bond CONTRACTOR'S BOND FOR ONE YEAR MAINTENANCE VALLEY AVENUE AND NORTHWAY ROAD INTERSECTION IMPROVEMENTS PROJECT NO. 23532 KNOW ALL PERSONS BY THESE PRESENTS: WHEREAS, the City of Pleasanton has awarded and Columbia Electric, Inc. ("Contractor") is about to execute a Contract for the above -referenced Project ("Contract") and the terms thereof, which are incorporated herein by reference, require the furnishing of a bond with said Contract providing for maintenance for a period of one (l) year from the date of acceptance by the City Council of said contract by the Contractor. NOW, THEREFORE, WE, Contractor and Western Surety Company ("Surety"), are held firmly bound unto the City of Pleasanton, as Agency in the penal sum of: One Hundred Eleven Thousand Five Hundred Twelve and 75/1 oo DOLLARS, ($111,512.75 ), lawful money of the United States of America, said sum being ten percent (10%) of the estimated amount payable by Agency under the terms of the contract, for payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors, jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION is such that if the above bounden Columbia Electric Inc. . Principal(s), within a period of one (1) year after the completion and acceptance of the project fulfills the provisions of the Contract and complies with any necessary repairs or replacement of faulty materials to the VALLEY AVENUE AND NORTHWAY ROAD INTERSECTION IMPROVEMENTS, PROJECT NO. 23532 and related facilities, then the above obligation shall be void; otherwise to remain in full force and effect. No cancellation or termination of this bond by Surety shall be effective unless thirty (30) days prior written notice thereof has been delivered to the City Engineer, provided that no cancellation or termination shall affect any liability incurred or accrued hereunder prior to the expiration of said thirty (30) day period or any work performed under any Contract issued by the City. This bond is executed in accordance with the rules, regulations, standards, specifications and policies of the City of Pleasanton.