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CITY OF SANTA ANA <br />BONDS <br />PROJECT NO.: 15-6606 <br />Bond No, 8239-74-09 <br />FAITHFUL PERFORMANCE BOND <br />I{NOW ALL MEN BY THESE PRESENTS that PALP Inc. dba Excel Paving Company <br />as CONTRACTOR, and Federal Insurance Company <br />a,corporation, organized and existing under the laws of the State, and duly authorized to transact <br />business under the laws of the State of Califor nia, as SURETY, are held and firm ly bound unto <br />the City of Santa Ana, as AGENCY, in the penal sum of Two hundred thirty nine thousand four hundred <br />eighty and 00/100 Dollars <br />($ 239,480.00 ), which is 100 percent of the total contract amount for t he above stated <br />project, for the payment of which sum, CONTRACTOR and SURETY agree to be bound, jointly <br />and severally, firmly by these presents. <br />THE CONDITIONS OF THIS OBLIGATION AR E SUCH that, whereas CONTRACTOR has <br />been awarded and is about to enter into the annexed Contract Agreement with AGENCY dated <br />May 17, 2016 for Street Traffic Calming From Birch St. to Spurgeon St. (FAID U58DP005861) <br />if CONTRACTOR faithfully performs and fulfills all obligations in the performance of the Work <br />of Improvement to be done unde r said Contract Agreem But in the manner and time specified <br />therein, then this obligation shall be null and void, other wise it shall rem ain in full f orce and <br />effect in favor of AGENCY; pr ovided that any alterations in the obligations or tim e for <br />completion made pursuant to the terms of the contract documents shall not in any way release <br />either CONTRACTOR or SURETY, and notice of such alte rations is hereb y waived by <br />SURETY. <br />IN WITNESS WHEREOF the parties hereto have set their names, titles, hands, and seal this <br />20th day of May '2016 <br />CONTRACTOR* PALP Inc. dba Excel Paving Company 2230 Lemon Avenue, Long Beach CA 90806 <br />sworn to before me, <br />20 <br />Signature: <br />Notary Public in and for the County of <br />Rate of premium on this bond is $ _ <br />Total amount of premium charge is $ <br />Varies <br />NMI <br />562-599-5841 <br />15 Mountain View Rd., Warren, NJ 07059 <br />908-903-2000 <br />this ___, day of <br />State of <br />perthousand. <br />To be filled in, by Surety <br />*Provide CONTRACTOR / ADMITTED SURETY name, address, and telephone number and the <br />name, title, address, and telephone number of authorized representative. <br />1 of 3 <br />