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Premium: $22,381.00 Bond No. 107973825
<br />CONTRACTOR'S BOND FOR FAITHFUL PERFORMANCE
<br />KNOW ALL PERSONS BY THESE PRESENTS:
<br />Whereas, The City Council of the City.of Pleasanton, State of California, and
<br />Bay Cities Paving & Grading, Inc. ("Principal") have entered into an agreement
<br />whereby Principal agrees to install and complete certain designated public improve!llents,
<br />which said agreement, dated~ May 7 , 2024, and ideptified as HOPYARD
<br />ROAD AND OWENS DRIVE INTERSECTION IMPROVEMENTS, PROJECT
<br />r NO. 15525, is hereby referred to and made a part hereof; and
<br />Whereas, Said Principal is required under the terms of said agr_eement to furnish a bond
<br />for the faithful performance of said agrrement.
<br />Travelers Casualty and Surety
<br />Now, therefore, we, Principal and Company of America • ("Surety"), are held
<br />and firmly bound unto the City of Pleasanton, in the penal sum of Four Million One Hundred Eighty Three*
<br />dollars($ 4,183,298.00 ) lawful money of the United States, for the payment
<br />of which sum well and truly to be made, we bind ourselves, our heirs, successors,
<br />executors and administrators, jointly and severally, firmly by these presents.
<br />*Thousand Two Hundred Ninety Eight and No/100----
<br />The condition of this obligation is such that if the above bounded Principal, Principal' s
<br />heirs, executors, administrators, successors or assigns, shall in all things stand to and
<br />abide by, and well and truly keep and perform the covenants, conditions and provisions in
<br />the said agreement and any alteration thereof made as therein provided, on Principal' s
<br />part, to be kept and performed at the time and in the manner therein specified, and in all
<br />. respects according to their true intent and meaning, and shall indemnify and save
<br />harmless City of Pleasanton, its officers, agents and employees, as therein stipulated, then
<br />this obligation shall become null and void; otherwise it shall be and remain in full force
<br />and effect.
<br />As a part of the obligation secured hereby and in addition to the face amount specified
<br />therefor, there shall be included costs and reasonable expenses and fees, including .
<br />reasonable attorney's fees, incurred by City of Pleasanton in successfully enforcing such
<br />obligation, all to be taxed as costs and included in any judgment rendered.
<br />Surety hereby stipulates and agrees that no change, extension 0f time, alteration or
<br />addition to the terms of the agreement or to the work to be performed thereunder or the
<br />specifications accompanying the same shall in anywise affect its obligations on this bond,
<br />' and it does hereby waive notice of any such change, extension of time, alteration or
<br />addition to the terms of the agreement or to the work or to the specifications.
<br />In witness whereof, this instrument has been duly executed by the Principal(s) and Surety
<br />above named, on May 8 , 20 ~--\
<br />DocuSign Envelope ID: E9C36B8D-E90F-4CE7-9DA5-BF39B42482B9
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