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CITY OF SANTA ANA <br />BONDS <br />PROJECT NO.: 15-6846 <br />Bond No. 8239-74-53 <br />Z �1�'�1�1►YIf:i17►117 <br />KNOW 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 California, as SURETY, are held and firmly bound unto <br />the City of Santa Ana, as AGENCY, in the penal sum of Eight hundred seventy six thousand one <br />hundred eleven and 001100 Dollars <br />($ 876,111.00 ), which is 100 percent of the total contract amount for the 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 ARE SUCH that, whereas CONTRACTOR has <br />been awarded and is about to enter into the annexed Contract Agreement with AGENCY dated <br />October 18, 2016 for Bishop -Pacific -Shelton Bike Blvds <br />if CONTRACTOR or any subcontractor fails to pay for any labor or material of any kind used in <br />the performance of the Work of Improvement to be done under said Contract Agreement, or fails <br />to submit amounts due under the State Unemployment Insurance Act with respect to said labor, <br />SURETY will pay for the same in an amount not exceeding the sum set forth above, which <br />amount shall insure to the benefit of all persons entitled to file claims under the State Code of <br />Civil Procedures; provided that any alterations in the work to be done, materials to be furnished, <br />or time for completion made pursuant to the terns of the contract documents shall not in any <br />way release either CONTRACTOR or SURETY, and notice of said alterations is hereby waived <br />by SURETY. <br />IN WITNESS WHEREOF the parties hereto have set their names, titles, hands, and seal this <br />tat day of December _'20 16 <br />2230 Lemon Avenue, Long Beach CA 90806 <br />562-599-5841 <br />C -P. $MOWN PRESIDENT <br />SURET.* Fed ral Insura Co an 15 Mountain View Rd., Warren, NJ 07059 <br />908-903-2000 <br />Douglas pp, Ao ey in Fact (949 -6770) <br />Subscribed and w rn to before me, this _,_day of <br />20 <br />Signature: <br />Notary Public in and for the County of State of <br />Rate of premium on this bond is $ varies per thousand. <br />Total amount of premium charge is $ Ingluded in Charge for Performance Bond . 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 />2of3 <br />