1989 AGN FEB 21 I05 - Laserfiche WebLink

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CHUBB GROUP of Insurance Companies 15 Mountain View Road, P.O. Box 1615, Warren, NJ 0706171615 BID BOND FEDERAL INSURANCE COMPANY Bond No. 8113-6350 K Amount s -10 a- KnOw All Men By These Presents, That we, DOWTY RFL INDUSTRIES INC. PowerNrille Road Boonton, NJ 07005 (hereinafter called the Principal), as Principal, and the FEDERAL INSURANCE COMPANY, Warren, New Jersey, a corporation duly organized under the laws of the -Stats of New Jersey, (hereinafter called the Surety), as Surety, are held and firmly bound unto CITY COUNCIL OF THE CITY OF COLTON 650 N. Cadena (hereinafter called the Obligee), Colton, CA 92324 in the sum of Ten Percent of the Amount Bid in --------------------- Dollars ($--10%---.), for the payment of which we, the said Principal and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. Sealed with our seals and dated this 27th day of December , A. D. nineteen hundred and eighty-eight. WHEREAS, the Principal has submitted a bid, dated December 27, , 1988 , for furnishing Model #5455 Automatic Watthour Meter Test System. NOW, THEREFORE, if the Obligee shall accept the bid of the Principal and the Principal shall enter into a con- tract with the Obligee in accordance with such bid and give bond with good and sufficient surety for the faithful performance of such contract, or, in the event of the failure of the Principal to enter into such contract and give such bond, if the Principal shall pay to the Obligee the difference, not to exceed the penalty hereof, between the amount specified in said bid and the amount for which the Obligee may legally contract with another party to form the work covered by said bid, if the latter amount be in excess of the former, then this obligation shall be null and void, otherwise to remain in full force and effect. DOWTY RFL INDUSTRIES INC. Principal By: R.W. Seabury, III Vice President FEDERAL INSURANCE CO ANY By. W` °r n R. Uykstra Form 15.02-0002 (Rev. 7-83) Attorney -in -Fact PRINTED P -53334(40M) w U.S.A.