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Attachment B <br /> Bond No.8238--533e-87 <br /> FAITHFUL BOND FOR 'ERF ORMANCE <br /> KNOW AL.L MEN BY T riESE PRESENTS THAT: <br /> WHEREAS,The City of Santa Ana,State of California,and <br /> PALP Inc.dba Excel Paving Company <br /> (hereinafter_designated as'Principe)have entered kite an agreement whercbyPrineipai agrees to install and <br /> complete cctrlain designated public improvements,which said agreement, <br /> dated <br /> entitled Residential Street Repair FY 14/15;Wilshire Ave and Borchard Ave Water Main Improvements <br /> is hereby referred to and made a part hereof,and <br /> WHEREAS. said Principal is requinxt wider the terms of said agreement to furnish a Blind for Faithful <br /> Performance of said agreement <br /> NOW,T'l4EREFORE,we,the Principal and Federal.Insurance Company... y, <br /> as Surety,_are held and firmly hound unto the City of Santa Ane(hereinafter called"City"),in the penal sum of <br /> Two million seven hundred fifteen thousand two hundred eighty six and 20/100 muss ($ 2,715,286.20 ) lawful <br /> money of the United States, for the patnient of which sura well and truly to be made, we hindourselves, our <br /> heirs.successors,executors and administrators,jointly and severally,thinly by these presents. <br /> The condition of this obligation is such that if the above bounded Principal, his or its heirs, executors, <br /> administrators, successors or assigns, shall in all things stand to and abide by,and well and truly keep and <br /> perform the covenants, conditions and provisions in the gid agreement and any alteration thereof made as <br /> thae it provided, oo his or their part, to be kept and performsri at die Warn and in the:manner therein spec zfiS„ <br /> and m all respects according to their true Pant and meaning, and shall indemnify and save harmless City,its <br /> offrccers,agents and employees,as therein stipulated,dam this obligation shall become nun and void;otherwise it <br /> shall be and remain in full force and effect <br /> As part of the obligation secured hereby and in addition to the face amount specified therefor,there shaft be <br /> included costs and reasonable expenses and fees, including reasonable attorney's fres, incurred by City in <br /> successfully enforcing such obligation,all tole taxed as costs and included in any judgment rendered.. <br /> 1 <br />