RFQ - PALOMAR RESIDENCE DEMOLITION (RESERVED FOR LOCAL BUSINESSES)

PAYMENT BOND
BOND NO. ___________________
KNOW ALL MEN BY THESE PRESENTS: That
WHEREAS, the County of San Diego, a political subdivision of the State of California (hereinafter designated as Owner) on ___________
awarded to Align Builders, Inc. ............................ (hereinafter designated as the Principal) a contract for the work described as follows:
PALOMAR RESIDENCE DEMOLITION
CONTRACT NO. XXXXX; RFQ 13037
WHEREAS, said Principal is required pursuant to Chapter 5 (commencing at Section 9550), Title 3, Part 6, Division 4 of the California Civil
Code to furnish a bond in connection with said contract.
NOW THEREFORE, We, the Principal and ...........................................................................................................................................
as Surety, are held and firmly bound unto the Owner in the penal sum of XXXXXXX ($XXXXXX) lawful money of the United States, for the
payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and
severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION IS SUCH THAT if said Principal, hers/his/its subcontractors, heirs, executors,
administrators, successors, or assigns, shall fail to pay any of the persons named in Section 9100 of the California Civil Code, or amounts
due under the Unemployment Insurance Code with respect to work or labor performed under the contract, or for any amounts required to be
deducted, withheld and paid over to the Employment Development Department from the wages of employees of the contractor and his
subcontractors pursuant to Section 13020 of the Unemployment Insurance Code, with respect to such work and labor the Surety or Sureties
will pay for the same, in an amount not exceeding the sum hereinabove specified, and also, in case suit is brought upon this bond, a
reasonable attorney's fee, to be fixed by the court.
This Bond shall inure to the benefit of any of the persons named in Section 9100 of the California Civil Code, so as to give a right of action to
such persons or their assigns in any suit brought upon this bond.
It is further stipulated and agreed that the Surety on this bond shall not be exonerated or released from the obligation of this bond by any
change, extension of time for performance, addition, alteration or modification in, to, or of any contract, plans, specifications, or agreement
pertaining or relating to any scheme or work of improvement hereinabove described or pertaining or relating to the furnishing of labor,
materials or equipment therefor, nor by any change or modification of any terms of payment or extension of the time for any payment
pertaining or relating to any scheme or work of improvement hereinabove described, nor by any rescission or attempted rescission of the
contract, agreement or bond, nor by any conditions precedent or subsequent in the bond attempting to limit the right of recovery of claimants
otherwise entitled to recover under any such contract or agreement or under the bond, nor by any fraud practiced by any person other than
the claimant seeking to recover on the bond and that this bond be construed most strongly against the Surety and in favor of all persons for
whose benefit such bond is given, and under no circumstances shall Surety be released from liability to those for whose benefit such bond
has been given, by reason of any breach of contract between the Owner or Public Entity and original contractor or on the part of any obligee
named in such bond, but the sole conditions of recovery shall be that claimant is a person described in Section 9100 of the California Civil
Code, and has not been paid the full amount of his claim and that Surety does hereby waive notice of any such change, extension of time,
addition, alteration or modification herein mentioned.
IN WITNESS WHEREOF this instrument has been duly executed by the Principal and Surety above named, on the ........................
day of ................................. 20.......
....................................................................................................... (SEAL)
Principal
By ....................................................................................................... (SEAL)
NOTE: (a) Signature of those executing for
Surety must be properly acknowledged. ..................................................................................................... (SEAL)
(b) The Attorney-in-fact must attach
a certified copy of Power of Attorney. By ....................................................................................................... (SEAL)
Attorney-in-Fact
(Attach required acknowledgements)
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