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Bond No. 106743886 <br />CITY OF SAN LEANDRO Premium Included in <br />STATE OF CALIFORNIA Performance Bond <br />MAINTENANCE BOND <br />KNOW ALL MEN BY THESE PRESENTS: <br />WHEREAS the City of Can I eandro, State of California, has Awarded to <br />American Pavement Systems, Inc. hereinafter designated as the "Principal, a contract for <br />Annual Street Sealing 2016-17 Project, Project No.: 2017.0070,,; 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 />Travelers Casualty and Surety <br />NOW, THEREFORE, we the Principal, and Company of America as Surety, are held and <br />firmly bound unto the City of San Leandro in the penal sum of Eighty Nine Thousand Four Hundred Thirty Eight <br />($89,438.00 ), lawful money of the United States for the payment of which sum well and truly to be and No/100 <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: 06/01/16 Page 45 Agreement <br />Annual Street Sealing 2016-17 Project No. 2017.0070 <br />