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CITY OF SAN LEANDRO
<br />STATE OF CALIFORNIA
<br />PERFORMANCE BOND
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />WHEREAS, the City of San Leandro, State of California, has awarded to GRANITE CONSTRUCTION
<br />COMPANY, 715 COMSTOCK STREET, SANTA CLARA, CA 95054, PHONE: (408) 327-7000,
<br />hereinafter designated as the "Principal," a contract for Annual Street Overlay / Rehabilitation 2016-17,
<br />Phase 2, project 2017.0050; and,
<br />WHEREAS, said Principal is required under the terms of said contract to furnish a bond for the faithful
<br />performance of said contract.
<br />NOW, THEREFORE, we the Principal, and Surety, are held and firmly bound unto the City of San Leandro
<br />in the penal sum of ONE MILLION SEVEN HUNDRED FIFTY-FOUR THOUSAND ONE
<br />HUNDRED SIXTY DOLLARS ($1,754,160.00), lawful money of the United States for the payment of
<br />which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors,
<br />or assigns jointly and severally, firmly by these presents.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, or Principal's
<br />heirs, executors, administrators, successors, or assigns, shall in all things stand to and abide by, and well
<br />and truly keep and perform the covenants, conditions, and agreements in said contract and any alteration
<br />thereof made as therein provided, on the Principal's part, to be kept and performed at the time and in the
<br />manner therein specified and in all respects according to their true intent and meaning; and shall defend,
<br />indemnify and save harmless the City of San Leandro, its officers and agents as therein stipulated, then this
<br />obligation shall become null and void; otherwise it shall be and remain in full force and virtue.
<br />And the Surety, for value received hereby stipulates and agrees that, in accordance with the Plans, Standard
<br />Specifications, Special Provisions, and other contract documents, no change, extension of time, alteration,
<br />or addition to the terms of the contract, or to the work to be performed hereunder, or to the specifications
<br />accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice
<br />of any such change, extension of time, alteration of additions to the terms of the Contract to the work, or to
<br />the specifications.
<br />The City reserves the right to refuse use of any Contractor assigned by any surety to complete the work.
<br />Last Revised: 06/01/16 Page I Performance Bond
<br />Annual Street Overlay/Rehabilitation 2016-17, Phase 2 Project No.2017.0050
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