|
Premium is for contract term and is subject to adjustments based on final contract price
<br />Bond No. ES00017614
<br />Premium: $2 ,621 .00
<br />CONTRACTOR'S BOND FOR FAITHFUL PERFORMANCE
<br />KNOW ALL PERSONS BY THESE PRESENTS:
<br />Whereas, The City Council of the City of Pleasanton, State of California, and
<br />Amer ican Asphalt Repa ir and Resurfacing Company , Inc . ("Principal") have entered into an agreement
<br />whereby Principal agrees to install and complete certain designated public improvements,
<br />which said agreement, dated May 7 , 20 24, and identified as ANNUAL
<br />SLURRY SEAL PROJECT, PROJECT NO. 24504, is hereby referred to and made a
<br />part hereof; and
<br />Whereas, Said Principal is required under the terms of said agreement to furnish a bond
<br />for the faithful performance of said agreement.
<br />Now, therefore, we , Principal and Everest Nationa l Insurance Company ("Surety"), are held
<br />and firmly bound unto the City of Pleasanton, in the penal sum of ::;~Se.my-FcuTrruxmTIYeeHiro-edf'.iray
<br />dollars($ 374 ,390 .75 ) 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 />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 trul y 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 of 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 dul y e xecuted by the Principal(s) and Surety
<br />above named, on May 8 , 20 -2!_.
<br />DocuSign Envelope ID: E96A4C74-2FC7-4968-986D-B86E1F2596BA
|