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S -888 R6 10/82
<br />SAFECO
<br />PAYMENT BOND
<br />CALIFORNIA — PRIVATE WORK
<br />THIS BOND IS A PAYMENT BOND AS DEFINED IN SECTION 3096 OF THE CIVIL CODE.
<br />THE LAW WILL FULLY PROTECT ALL PARTIES ONLY IF THIS BOND IS RECORDED IN
<br />THE OFFICE OF THE COUNTY RECORDER BEFORE WORK IS COMMENCED.
<br />KNOW ALL BY THESE PRESENTS, That BWGARD CONSTRUCTION INC. ,
<br />350 Coral Street, Santa Cruz, CA 95060 as Principal, and the
<br />SAFECO INSURANCE COMPANY OF AMERICA, a corporation organized and existing under the laws of the State of
<br />Washington and authorized to transact surety business in the State of California, as Surety, are held and firmly bound unto
<br />any and all persons who perform labor upon or bestow skill or other necessary services on, or furnish materials or lease
<br />equipment to be used or consumed in, or furnish appliances, teams, or power contributing to the work described in a
<br />certain contract dated June 27 , 19 88 ,
<br />between the Principal and EDEN HOUSING, INC. , 1035 "B" Street,
<br />Hayward, CA 94541 , hereinafter called Owner
<br />for Construction of RIDGE VIEW COMMONS, Pleasanton, CA
<br />a copy of which contract is or may be attached hereto, and is hereby referred to, in the sum of Eleven million
<br />three hundred forty thousand and no /100 Dollars($11,340,000.
<br />for the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators,
<br />successors and assigns, jointly and severally, firmly by these presents.
<br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, That if the Principal shall pay, or cause to be
<br />paid in full, the claims of all persons performing labor upon or bestowing skill or other necessary services on, or furnishing
<br />materials or leasing equipment to be used or consumed in or furnishing appliances, teams or power contributing to such
<br />work, then this obligation shall be void; otherwise to remain in full force and effect.
<br />THIS BOND IS EXECUTED for the purpose of complying with the laws of the State of California as contained in Title
<br />15, Works of Improvement, of the Civil Code of the State of California and all acts amendatory thereof, and this bond
<br />shall inure to the benefit of any and all persons who perform labor upon or bestow skill or other necessary services on, or
<br />furnish materials or lease equipment to be used or consumed in, or furnish appliances, teams or power contributing to the
<br />work described in said contract in accordance with the provisions of said statute. Provided, However, the foregoing
<br />obligation is subject to the following conditions to any right of claims or recovery hereunder:
<br />1. No suit, action or proceeding may he maintained on this bond unless the person claiming hereunder shall previously
<br />have either, recorded a mechanic's lien claim pursuant to Title 15, Works of Improvement, of the Civil Code of the State of
<br />California or given notice to the Surety on this bond before the expiration of the time prescribed in said statute for
<br />recording a lien. Notice to Surety may be addressed to or served upon it at its office in Pleasanton,
<br />California.
<br />2. No suit, action or proceeding to recover on this bond shall be sustained unless the same be commenced within two
<br />years from the completion of said structure or work of improvement, as "completion" is defined under applicable
<br />sections of Title 15, Works of Improvement, of the Civil Code of the State of California.
<br />3. No right of action shall accrue hereunder to or for the use of any person except as provided herein.
<br />4. The total amount of Surety's liability under this bond shall in no event exceed the penalty hereof.
<br />Signed, sealed and dated this 27t1a
<br />No premium is charged for this bond. It is
<br />executed in connection with a bond for
<br />performance of the contract.
<br />Executed in 1 Counterparts
<br />day of
<br />June , 19 88
<br />Bond No. 5516871
<br />BOGARD CONSTRUCTION INC.
<br />SAFECO INSURANCE CO PAN
<br />!3- 1549Ub
<br />SAFECO INSURANCE COMPANY OF AMERICA
<br />GENERAL INSURANCE COMPANY OF AMERICA
<br />FIRST NATIONAL INSURANCE COMPANY
<br />OF AMERICA
<br />HOME OFFICE: SAFECO PLAZA
<br />SEATTLE, WASHINGTON 98185
<br />OF AMERICA
<br />Donald R. Hardy Attorney -in -Fact
<br />PRINTED IN USA
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