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.•• •': 11 111• <br />CITY OF SAN LEANDRO <br />STATE OF CALIFORNIA <br />MAINTENANCE BOND <br />KNOW ALI., MEN BY THESE PRESENTS: <br />WHEREAS, the City of San Leandro, State of California, has awarded to <br />SilMan Venture Corporation DBA SilMan Construction In hereinafter designated as the "Principal," a contract for <br />Curb Ramp Upgrades 2016-17 Project, Project No.: 2017.0070.; and <br />SilMan Venture Corporation DBA SilMan Construction, Inc. <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 />Philadelphia Indemnity Insurance <br />NOW, THEREFORE,, we the Principal, and Company as Surety, are held and <br />firmly bound unto the City of San Leandro in the penal sum of ,.., ** <br />($ 411.786.64 ), 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 />** Four Hundred Eleven Thousand, Seven Hundred Eighty Six Dollars and Sixty Four Cents <br />Last Revised: 06/01/16 Page 44 Maintenance Bond <br />Curb Ramp Upgrades 2016-17 Project No. 2017.0070 <br />