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FAITHFUL PERFORMANCE BOND <br />BOND NO. 150 19 29 <br />PREMIUM: $997.00 <br />KNOW ALL MEN BY THESE PRESENTS: That we EL -CO CONTRACTORS, INC. <br />a hereinafter called "Principal" and INSURANCE COMPANY OF THE WEST <br />State of CALIFORNIA <br />bound unto <br />of 17852 EAST 17TH STREET, #111, TUSTIN <br />hereinafter called the "Surety", are held and firmly <br />CITY OF COLTON <br />of COLTON, CALIFORNIA <br />hereinafter called "Owner" in the <br />penal sum of SIXTY-NINE THOUSAND TWO HUNDRED SIXTY-SEVEN &10/100dollars <br />($ 69, 267.10 *** ) in lawful money of these United States, for the payment <br />of which sum will and truly to be made, we bind ourselves, our heirs, <br />executors, administrators and successors, jointly and severally, firmly by <br />these presents. <br />THE CONDITION OF THIS OBLIGATION is such that Whereas, the Principal <br />entered into a certain Contract, with the Owner, dated <br />the 24TH day of JULY <br />19 97 <br />a copy of which is hereto attached and made a part hereof for the construction <br />of: <br />WATER &SEWER LINE RECONSTRUCTION IN RECHE CANYON ROAD, <br />PROJECT#WW97-2 <br />NOW, THEREFORE, if the Principal shall well, truly and faithfully perform its <br />duties, all the undertakings, covenants, terms, conditions, and agreements <br />of said Contract during the original term thereof, and any extensions thereof <br />which may be granted by the Owner, with or without notice to the Surety, <br />and if he shall satisfy all. claims and demands incurred under such Contract, <br />and shall fully indemnify and save harmless the Owner from all costs and <br />damages which it may suffer by reason of failure to do so, and shall reimburse <br />and repay the Owner all outlay and expense which the Owner may incur in <br />making good any default, then this obligation shall be void; otherwise, to <br />remain in full force and effect. - <br />G-5 <br />