MCDONALD LES CONSTRUCTION CO - Laserfiche WebLink

Doi,, NO. 2376610 PREMIUM: INCLUDED LABOR AND MATERIAL BOND CITY OF PLEASANTON WHEREAS, the City Council of the .City of Pleasanton, State of California, and _ES MCDONALD CONSTRUCTION CO. (hereinafter referred to as "Principal") have entered into an agreement whereby Principal agrees to install and complete certain designated public improvements, which said agreement, dated JUNE 23rd. 1992 identified as project CONNECTOR ROAD. DUBLIN BOULEVARD AND HACIENDA DRIVE EXTENSION, (NPID3-9201); is hereby referred to and made a part hereof; and WHEREAS, under the terms of said agreement. Principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Pleasanton (hereinafter referred to as City) to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, said Principal and the undersigned as corporate surety, are held firmly bound unto the City and all contractors, subcontractors.. laborers, materialmen and other persons employed in the performance of the aforesaid agreement referred to i�1 th e afo esai o e of Cavil Procedure in the sum of Ei qh �1 n�Ired Sri xtyi gh �housan �i rtee an7i n/�n�iths------------------- and �S '?68.015.30 ), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to such work or labor, that said surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing such obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of said agreement or the specification accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration, or addition. SF024721\FD\007.51 00600-5