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EXECUTED IN ORIGINAL COUNTERPART CITY OF SANTA ANA BOND NUMBER: 367373-P <br />BONDS <br />PROJECT NO.: 17-01 5 1 <br />COUNCIL CHAMBERS CONFERENCE ROOM RENOVATION <br />PAYMENT BOND <br />KNOW ALL MEN BY THESE PRESENTS that RS CONSTRUCTION & DEVELOPMENT, INC. <br />as CONTRACTOR, and INDEMNITY COMPANY OF CALIFORNIA <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 NINETY THOUSAND &001100 <br />Dollars <br />($ 90,000.00 ), which is 100 percent of the total contract amount for the above stated <br />project, for the payment of which sum, CONTRACTOR and S URETY 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 />JULY 2ND, 2019 for COUNCIL CHAMBERS ROOM RENOVATION <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 terms 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 />9TH day of JULY 2019 <br />* IRS_ CONSTRUCTION & DEVELOPMENT, INC. -1042 N. MOUNTAIN AVE. SUITE B #552 UPLAND, CA <br />S U RETY * INDEMNITY COgMPANY �F CALIFORNIA -17771 COWAN #100 IRVINE, CA 92614; 714-784-5539 <br />Subscribed and sworn to before me, <br />120. <br />S ignature: <br />Notary Public in and for the County of State of <br />KEVIN E VEGA, ATTORNEY -in -FACT <br />this day of <br />Rate of prenliLIM Ott this bond Is $ INCLUDED IN THE PERFORMANCE BOND per thousand. <br />Total amount of premium charge IS $INCLUDEDINTHE PERFORMANCEBOND , 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 />2 of 3 <br />