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CONTRACT BOND - FAITHFUL PERFORMANCE
<br /> CITY OF TRACY
<br /> Tracy, California Bond Number
<br /> Whereas, the City Council of the City of Tracy, State of California, and
<br /> (hereinafter designated as "Principal") have
<br /> entered into an agreement whereby principal agrees to install and complete certain designated
<br /> public improvements, which said Agreement, dated , 20 , and
<br /> identified as: NORTHEAST INDUSTRIAL PHASE II WATER AND SEWER PROJECT,
<br /> CIP Nos. 7468, 7589, 7590 is hereby referred to and made a part hereof; and
<br /> Whereas, the principal is required, under the terms of the agreement, to furnish a bond
<br /> for the faithful performance of said Agreement.
<br /> Now, therefore, we the principal and as surety, are
<br /> held and firmly bound unto the City of Tracy (hereinafter called "City", in the penal sum of
<br /> dollars ($ ) lawful money of the United
<br /> States, for the payment of which sum well and truly made, we bind ourselves, our heirs,
<br /> successors, executors and administrators, jointly and severally, firmly by these presents.
<br /> 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, stand to and abide
<br /> by, and well and truly keep and perform the covenants, conditions and provisions in the said
<br /> Agreement and any alteration thereof made as therein provided, on his or their part, to be kept
<br /> and performed at the time .and in the manner therein specified, and in all respects according to
<br /> their true intent and meaning, and shall indemnify and hold harmless the City of Tracy, its
<br /> officers, agents, volunteers and employees, as therein stipulated, then this obligation shall
<br /> become null and void, 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 specified
<br /> therefore, there shall be included costs and reasonable expenses and fees, including
<br /> reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be
<br /> taxed as costs and included in any judgment rendered.
<br /> The Surety hereby stipulates and agrees that no change, extension of time, alteration or
<br /> addition to the terms of the Agreement or to the work to be performed thereunder or the
<br /> specifications accompanying the same shall in any way affect its obligations on this bond, and it
<br /> does hereby waive notice of any such change, extension of time, alteration or addition to the
<br /> terms of the Agreement or to the work or to the specifications.
<br /> IN WITNESS WHEREOF, This instrument has been duly executed by the Principal and
<br /> Surety above named, on — 20
<br /> Principal Bonding Company
<br /> July 2007 Division IV-18
<br /> NEI Phase II Water and Sewer
<br /> CIP Nos. 7468, 7589, 7590
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