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Bond No. 6156863
<br />Premium: $6600.00
<br />FAITHFUL PERFORMANCE BOND
<br />WHEREAS CITY OF COLTON (also herein "Obligee") has awarded to GMC
<br />ENGINI=EKING. INC. (hereinafter "CONTRACTOR"), a contract for work consisting of but not
<br />limited to, furnishing all labor, materials, tools, equipment, services, and incidentals for the
<br />construction of the SANTA ANA RIVER PROJECT AREA — WASHINGTON STREET MEDIANS
<br />Project and all other required structures and facilities within the rights-of-way, easements and
<br />permits;
<br />WHEREAS, the Work to be performed by the CONTRACTOR is more particularly
<br />set forth in that certain contract for the said Public Work dated April 11 th
<br />2002, (hereinafter the "Public Work Contract'); and
<br />WHEREAS, the CONTRACTOR is required by said Public Work Contract to perform
<br />the terms thereof and to provide a bond both for the performance and guaranty thereof,
<br />NOW, THEREFORE, we GMC Engineering, Inc.
<br />the undersigned CONTRACTOR, as Principal, and First National Insurance Company of America ,
<br />a corporation organized and existing under the iaws of the State of Washington
<br />and duly authorized to transact business under the laws of the State of California, as Surety, are
<br />held and firmly bound unto the CITY OF COLTON in the sum of Six Hundred Fifty-seven
<br />Thousand One Hundred Forty-seven dollars and Fo r -six cents, $657,147.46, said sum being
<br />not less than 100% of, the total amount payable by the said Obligee under the terms of the said
<br />Public Work Contract, for which payment well and truly to be made, we bind ourselves, our heirs,
<br />executors and administrators, successors and assigns, jointly and severally, firmly by these
<br />presents.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the Principal, his or its
<br />heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by,
<br />and well and truly keep and perform the covenants, conditions and agreements in the said Public
<br />Work Contract 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 intent and meaningand shall faithfully fulfill the one-year guarantee of all materials and
<br />workmanship; and indemnify and save harmless the Obligee, its officers and agents, as stipulated
<br />in the said Public Work Contract, then this obligation shall become null and void; otherwise it shall
<br />be and remain in full force and effect. Ir. the event legal action is required to enforce the provisions
<br />of this agreement, the prevailing PARTY shall be entitled to recover reasonable attorneys' fees in
<br />addition to tour costs, necessary disbursements, and other damages
<br />In case legal action is required to enforce the provisions of this bond, the prevailing
<br />PARTY shall be entitled to recover reasonable attorneys' fees in addition tc court casts, necessary
<br />disbursements and other consequential damages.
<br />The said Surety, for value received, hereby stipulates and agrees that no change,
<br />extensions of timealteration or addition to the terms of the Public Work Contract or to the Work to
<br />be performed thereunder, or the specifications accompanying the same shall in any way affect its
<br />obligations on thi: bond, and it does hereby waive notice of any such change, extension of time;
<br />alteration or addition to the terms of the Contract, or to the Work or to Specifications.
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