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CITY OF SANTA ANA <br />BONDS <br />PROJECT NO.: 21-6458 <br />Bond Number: K40144481 <br />PAYMENT BOND <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 one hundred thirteen thousand six hundred and 00/100 <br />Dollars <br />($ 113,600.00 ), 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, j ointly <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 />September 2, 2020 for Miscellaneous Storm Drain Repairs <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 famished, <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 />11th day of September , 20 20 . <br />CONTRACTOR* PALP Inc. dba Excel Paving Company 2230 Lemon Avenue, Long Beach CA 90806 <br />SURETY* Federal Insurance Company 202B Halls Mill Road, Whitehouse Station, NJ 08889 <br />908-903-3493 <br />Douglas A. Rapp, Attorney in Fact Rapp Su�,ty & psu c Services, Inc. 120 Vantis Drive, Suite 300, Aliso Viejo, CA 92656; 949-540-6770 <br />Subscribed and sworn to before me, l.U�ls Brown Ill President this 1L_day of <br />b,e 20 2-0. <br />Signature: <br />Notary Publi in and for the County of State of <br />Rate of premium on this bond is $ Included in Charge For Performance Bond per thousand. <br />Total amount of premium charge is $ . To be filled in by Surety <br />*Provide CONTRACTOR I ADMITTED SURETY name, address, and telephone number and the <br />name, title, address, and telephone number of authorized representative. <br />2 of 3 <br />