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CITY OF TRACY CONTRACT BOND - FAITHFUL PERFORMANCE
<br /> Tracy, California Bond Number
<br /> Whereas, the City Council of the City of Tracy, State of California, and
<br /> (hereinafter designated as "Principal")
<br /> have entered into an agreement whereby principal agrees to install and complete certain
<br /> designated public improvements, which said Agreement, dated
<br /> 20 , and identified as BALL PARK AND PARK & RIDE
<br /> WELL CONSTRUCTION (PHASE 1) DRILL, CASE &ANALYZE WELLS - CIP 7542 is
<br /> hereby referred to and made a part hereof, and
<br /> Whereas, the principal is required, under the terms of the agreement, to furnish a
<br /> bond for the faithful performance of said Agreement
<br /> Now, therefore, we the principal and as
<br /> surety, are held and firmly bound unto the City of Tracy (hereinafter called "City", in the
<br /> penal sum of dollars ($ ) lawful
<br /> money of the United States, for the payment of which sum well and truly made, we bind
<br /> ourselves, our heirs, successors, executors and administrators, jointly and severally,
<br /> firmly by these presents
<br /> The condition of this obligation is such that if the above-bounded Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in all things, stand to
<br /> and abide by, and well and truly keep and perform the covenants, conditions and
<br /> provisions in the said Agreement and any alteration thereof made as therein provided,
<br /> on his or their part, to be kept and performed at the time and in the manner therein
<br /> specified, and in all respects according to their true intent and meaning, and shall
<br /> indemnify and hold harmless the City of Tracy, its officers, agents, volunteers and
<br /> employees, as therein stipulated, then this obligation shall become null and void,
<br /> otherwise, it shall be and remain in full force and effect
<br /> As a part of the obligation secured hereby and in addition to the face amount
<br /> specified therefore, there shall be included costs and reasonable expenses and fees,
<br /> including reasonable attorney's fees, incurred by City in successfully enforcing such
<br /> obligation, all to be taxed as costs and included in any judgment rendered
<br /> The Surety hereby stipulates and agrees that no change, extension of time,
<br /> alteration or addition to the terms of the Agreement or to the work to be performed
<br /> thereunder or the specifications accompanying the same shall in any way affect its
<br /> obligations on this bond, and it does hereby waive notice of any such change, extension
<br /> of time, alteration or addition to the terms of the Agreement or to the work or to the
<br /> specifications
<br /> IN WITNESS WHEREOF, This instrument has been duly executed by the
<br /> Principal and Surety above named, on 20
<br /> • Principal Bonding Company
<br /> August 2001 Division IV-25 Ball Park& Park & Ride Wells Ph 1
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