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CITY OF COLTON <br />STATE OF CALIFORNIA <br />BOND NO. 5017885 <br />PREMIUM: $1,495.00 <br />BOND FOR FAITHFUL PERFORMANCE <br />j <br />CITY PROJECT NO. M8-6 <br />KNOW ALL MEN BY THESE PRESENTS: <br />That we, FONTANA PAVING INC. P. 0. Box 847 Fontana CA 92335 <br />as principal, and SAFECO INSURANCE COMPANY OF AMERICA <br />as surety, are held and firmly bound unto the City of Colton, State <br />of California, in the sum of $TWO HUNDRED NINETY NINE THOUSAND and 00/100- <br />($299,000.00) <br />lawful money of the United States, for the payment of which sum, well <br />and truly to be made, we bind ourselves, jointly and severally, firmly <br />by these presents. <br />The condition of the foregoing obligation is such that whereas <br />said principal has been awarded and is about to enter into the annexed <br />contract with the City of Colton, State of California, for the improve- <br />ment of STREET IMPROVEMENT CONTRACT CITY PROJECT #PW88-6 <br />and is required by said CITY to give this bond in connection with the <br />execution of said contract; <br />NOW, THEREFORE, if said principal'shall well and truly do and <br />.;perform all of the covenants and obligations of said contract on their <br />part to be done and performed at the times and in the manner specified <br />therein, then this obligation shall be null and void., otherwise it <br />`shall be and remain in full force and effect. No premature payment <br />by said CITY shall have actual notice that such payment is premature <br />at the time it is ordered by said Council, and then only to the extent <br />I <br />that such payment shall result in loss to such surety, but in no event <br />i <br />I <br />12-B <br />