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Bond Number: UCSX372X6572
<br /> GUARANTEE AND WARRANTY Effective Date: May 15, 2023
<br /> IMPROVEMENT SECURITY
<br /> FAITHFUL PERFORMANCE BOND
<br /> WHEREAS, the City of Stockton, a Municipal Corporation of the State of California, and
<br /> Innovative Environmental Solutions (hereinafter designated as"Principal")whereby Principal agrees to
<br /> Six guautl atermonitoringwells(MW-15B,MW-16C,MW-17B,MW-18C,MW-198
<br /> and MW-29C)for California Tank Lines(TM MW425),3195 South El Dorado Street,
<br /> install and complete certain designated public improvements identified as stookton.San Joaquin County
<br /> is hereby referred to and made a part hereof;and
<br /> WHEREAS, said Principal is required per Stockton Municipal Code,Section 16.72.070 to furnish a bond for the
<br /> guarantee and warranty of the work for a period of one year following the completion and acceptance thereof against any defective
<br /> work or labor done,or defective materials furnished.
<br /> NOW,therefore,we the principal and United Surety Insurance Company
<br /> , as surety are held and firmly bound unto the City of Stockton
<br /> (hereinafter designated as"City"), in the sum of Nine Thousand.and 00/100 Dollars ($9,000.00 )lawful
<br /> money of the United States of America (being twenty percent of the contract price)for the payment of
<br /> which sum and truly to be made,we,the said Principal and surety bind ourselves, our heirs,successors,executors and administrators,
<br /> jointly and severally,firmly by these presence. The condition of this obligation is such that if the above bounded Principal,his or its
<br /> heirs,executors, administrators,successors, or assigns,shall in all things to and abide by, and well and truly keep and perform the
<br /> covenants,conditions and provisions in the public improvements and any alteration thereof made as therein provided,on his or their
<br /> part,to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and
<br /> meaning,and shall indemnify and save harmless City, its officers,agents and employees, as therein stipulated.
<br /> Should the condition of this bond be fully performed,then this obligation shall become null and void, otherwise it shall
<br /> be and remain in full force and effect.
<br /> As a part of the obligation secured hereby and in addition to the face amount specified therefor,there shall be
<br /> included costs and reasonable expenses and fees, including reasonable attorney's fees,incurred by City in successfully enforcing such
<br /> obligation,all to be taxed as costs and included in any judgement rendered.
<br /> The surety hereby stipulates and agrees that no change,extension of time,alteration or addition to the terms of the
<br /> public improvements or to the work to be performed thereunder or the specifications accompanying the same shall in anywise affect its
<br /> obligations on this bond, and it does hereby waive notice of any such change, extension of time,alteration or addition to the public
<br /> improvements or to the work or to the specifications.
<br /> In witness whereof, this bond has been duly executed by the Principal and surety above named,
<br /> on April 7 , 2023,
<br /> WITNESS:
<br /> APPROVED AS TO FORM: Innovative
<br /> -Environmental[S/9letlt)n
<br /> CITY ATTORNEY "PRINCIPAL'
<br /> APPROVED AS TO SURETY:
<br /> United Surety_]nsurance Company
<br /> RE 11
<br /> BY:
<br /> CITY AUDITOR ATTO EY-N-FACT Kelly Specht
<br /> RELEASE OF FUNDS AUTHORIZED:
<br /> PUBLIC WORKS DEPARTMENT
<br />
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