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CITY OF SANTA ANA <br />CONSTRUCTION CONTRACT AGREEMENT <br />PROJECT NO.: 15-6843 <br />SAFE TRANSIT STOPS <br />5. The CONTRACTOR will pay, and will require all subcontractors to pay, all employees on <br />the Work of Improvement a salary or wage at least equal to the prevailing salary or wage <br />established for such work as set forth in the wage determinations for this work in accordance <br />with applicable State and Federal law. <br />6. CONTRACTOR shall, after award of this Contract, furnish two bonds to be approved by the <br />CITY, one in the amount of One Hundred Percent (100%) of the Contract price, to guarantee <br />the faithful performance of the work (Performance Bond), and one in the amount of One <br />Hundred Percent (100%) of the Contract price to guarantee payment of all claims for labor <br />and materials furnished (Payment Bond). This Contract shall not become effective until such <br />bonds are supplied to and approved by the CITY. <br />7. CONTRACTOR shall, prior to the release of the performance and payment bonds or the <br />retention payment, furnish a warranty performance and payment bond (Warranty Bond). Said <br />Warranty Bond shall also be required as a condition of project acceptance. For projects up to <br />$500,000, the Warranty Bond amount shall be the greater of $10,000 or 20% of the final <br />contract price. For projects above $500,000, the Warranty Bond amount shall be the greater <br />of $100,000 or 10% of the final contract price. <br />s. CONTRACTOR shall, after award of this Contract, furnish Certificates of Liability <br />Insurance and Worker's Compensation Insurance as outlined in the General Provisions, to be <br />approved by the CITY. // <br />2of3 <br />