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CITY OF SAN LEANDRO <br />STATE OF CALIFORNIA <br />MAINTENANCE BOND <br />KNOW ALL MEN BY THESE PRESENTS: <br />Bond No.: 09097226 <br />Premium: Included on Performance Bond <br />WHEREAS, the City of San Leandro, State of California, has awarded to <br />Vortex Marine Construction, Inc. , hereinafter designated as the "Principal," a contract for <br />Monarch Bay Drive Bridge Repair, Project No. 12-150-38-324.; and <br />Whereas, said Principal is required under the terms of said contract to furnish a bond for the correction of <br />any defects due to defective materials or workmanship in the work performed under said contract. <br />NOW, THEREFORE, we the Principal, and Fidelity and Deposit Company of Maryland as Surety, are held and <br />firmly bound onto the City of San Leandro in the penal sum Of Twenty -Four Thousand Three Hundred Sixty and 00/100 Dollars <br />($24,360.00 ), lawful money of the United States for the payment of which sum well and truly to be <br />made, we bind ourselves, our heirs, executors, administrators, successors, or assigns _jointly and severally, <br />firmly by these presents. <br />THE CONDITION OF THIS OBLIGATION IS SUCH that if, during a maintenance period of one (1) <br />year from the date of recordation of the Notice of Completion by the City, the Contractor upon receiving <br />written notice of a need for repairs which are directly attributable to defective materials or workmanship, <br />shall diligently take the necessary steps to correct said defects within seven (7) days from the date of said <br />notice, then this obligation shall be null and void; otherwise it shall remain in full force and effect. <br />If any action shall be brought by City upon this bond, a reasonable attorney's fee, to be fixed by the court, <br />shall be and become a part of City's judgment in any such action. <br />No right of action shall accrue on this bond to, or for the use of, any person or corporation other than the <br />City named herein or the heirs, executors, administrator, or successor of the City. <br />Last Revised: 08/29/12 Page 51 Maintenance Bond <br />Monarch Bay Drive Bridge Repair Project No. 12-150-38-324 <br />