STEPHEN DORECK EQUIPMENT RENTALS, INC. (3)

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THE FINAL PREMIUM IS PREDICATED ON THE This bond was issued in two (2) FINAL CONTRACT AMOUNT original counterparts CITY OF SANTA ANA APPENDIX C Bond No. 2312332 PROJECT NO.: 21-6457 VALLEY ADAMS NEIGHBORHOOD WATER MAIN IMPROVEMENTS PHASE 2 PAYMENT BOND KNOW ALI, MEN BY THESE PRESENTS that Stephen Doreck Equipment Rentals Inc. as CONTRACTOR, and North American Specialty Insurance Company a corporation, organized and existing under the laws of the State,` and duly authorized to transact business. under the laws of the State of California, as SURETY, are held and firmly bound unto the City of Santa Ana, as AGENCY, in the penal sum of One Million One Hundred Twenty -Six Thousand Six Hundred Seventy and 00 Dollars ($1,126,670.00 ), which is 100 percent of the total contract amount for the above stated project, for the payment of which sum, CONTRACTOR and SURETY agree to be bound, jointly and severally, firmly by these presents. 'of New Hampshire THE CONDITIONS OF THIS OBLIGATION ARE SUCH that. whereas CONTRACTOR has been awarded and is about to enter into the annexed Contract Agreement with AGENCY dated January 19th, 2021 for Valley Adams Neighborhood Water Main Improvements Phase 2, Project No. 21-6457 if CONTRACTOR or any subcontractor fails to pay for any labor or material of any kind used in the performance of the Work of Improvement to be done under said Contract Agreement, or fails to submit amounts due under the State Unemployment Insurance Act with respect to said labor, SURETY will pay for the same in an amount not exceeding the sum set forth above, which amount shall insure to the benefit of all persons entitled to file claims under the State Code of Civil Procedures; provided that any alterations in the work to be done, materials to be furnished. or time for completion made pursuant to the terms of the contract documents shall not in any way release either CONTRACTOR or SURETY, and notice of said alterations is hereby waived by SURETY. IN WITNESS WHEREOF the parties hereto have set their names, titles, hands, and seal this 7th day of January 2021 9075 Telegraph Road Doreck Equipment Rentals, Inc. Pico Rivera, CA 90660, (562) 949-4949 Subscribed and sworn to before me, 20 Signature: Notary Public in and for the County of 777 S Figueroa Street, Suite 3700 Los Angeles, CA 90017, (714) 550-7799 1411 N. Batavia St., Suite 2n1, Orange, State this day of Rate of premium on this bond is $ Included in pert. bond per thousand. Total amount of premium charge is $ Included in pert. bond . To be filled in by Surety *Provide CONTRACTOR /ADMITTED SURETY name, address, and telephone number and the name, title, address, and telephone number of authorized representative.