HomeMy WebLinkAboutPayment Bond Premium is for Contract Term Bond#107593237
and is Subject to Adjustment Premium Included
Based on Final Contract Price. Executed in Duplicate
PAYMENT BOND
KNOW ALL PERSONS BY THESE PRESENTS, THAT, WHEREAS,the South Tahoe Public
Utility District, El Dorado County, California, hereinafter designated the"Owner", has, on
June 16 , 2022 , awarded to White Rock Construction, Inc.
hereinafter designated as the"Principal," a contract for the construction of Keller-Heavenly
Water System Improvements, Phase 3.
WHEREAS,said Principal Is required under the terms of said contract to furnish a bond providing
that if said Principal, or any of its Subcontractors, shall fail to pay for any materials, provisions, or
other supplies used in, upon,for,or about the performance of the work under said contract,or for
any work or labor done thereon of any kind,the Surety of this bond will pay the same to the extent
hereinafter set forth:
NOW, THEREFORE,WE, the Principal, and Travelers Casualty and Surety Company of America
, as Surety,
are held and firmly bound unto the Owner the penal sum of 'See Below
dollars($ 4,457,288.25 ) lawful money of the United States,for the payment of which sum well
and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors,
jointly and severally, firmly by these presents.
*Four Million Four Hundred Fifty Seven Thousand Two Hundred Eighty Eight&25/100
THE CONDITION OF THIS OBLIGATION IS SUCH,that if the above bound Principal,or its heirs,
executors,administrators,successors,or assigns,shall fail to pay any person specified in California
Civil Code Section 9100, or for any materials, provisions, or other supplies used in, upon, for, or
about the performance of the work under said contract,or for any work or labor thereon of any kind
or for any amount due under the Unemployment Insurance Code with respect to work or labor
performed under said contract,or for any amounts required to be deducted,withheld,and paid over
to the Employment Development Department or Franchise Tax Board from the wages of employees
of the Principal and his subcontractors pursuant to the Revenue and Taxation Code§18663,orwith
respect to any work or labor for which a bond is required by the provisions of Section 9550,
inclusive,of the California Civil Code,and provided that the persons,companies,or corporations so
furnishing said materials, provisions, or other supplies, appliances, or power use, in, upon,for,or
about the performance of the work under said contract,or any person who performs work or labor
upon same,or any person who supplies both work and materials,thereto,shall have complied with
the provisions of said Civil Code, then said surety will pay the same in or to an amount not
exceeding the amount hereinbefore set forth, and also will pay in case suit is brought upon this
bond, such reasonable attorney's fees to Owner as shall be fixed by the court.
This bond shall inure to the benefit of Owner and any and all persons,companies,and corporations
and their respective assigns entitled to file claims under applicable State law, including but not
limited to,California Civil Code Section 9100,so as to give a right of action to them or their assigns
in any suit brought upon this bond.
And the said Surety,for value received,hereby stipulates and agrees that no change,extension of
time,alteration,or addition to the terms of said contract or to the work to be performed thereunder
or to the specifications accompanying the same shall, in any way,affect its obligations on this bond,
and it does hereby waive notice of any such change,extension of time,alteration,or addition to the
terms of the contract or to the work or to the specifications. Said Surety hereby waives the
provisions of Sections 2819 and 2845 of the Civil Code of the State of California.
It is further stipulated and agreed that the Surety on this bond shall not be exonerated or released
from the obligation of this bond by any fraud practiced by any third party nor by any breach or
alleged breach by the Owner,and the sole condition of the surety's obligation is that a person listed
in Civil Code §9100 has not received full payment on its claim.
As a part of the obligation secured hereby and in addition to the amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees,
Incurred by Owner In successfully enforcing such obligation,all to be taxed as costs and included in
any judgment rendered.
IN WITNESS WHEREOF, the above parties have executed this instrument under their seals this
23rd day of .rune , 2022, the name and corporate seal of each
corporate party being hereto affixed and these presents duly signed by its undersigned
representative, pursuant to authority of its governing body.
White Rock Construction, Inc.
(Principal)
c
(Signature.4ff Principal) (Title)
Surety_Travelers Casualty and Surety Company of America
(Signature for)Surety) (Title)
Dona Lisa Buschmann,Attorney-In-Fact
Surety's address In California for service of process;
Melissa DeKoven
2710 Gateway Oaks Drive,Suite 150N
Sacramento,CA 95833-3505
[ notary ublic or other officer completing this certificate verifies only the identity of the Individual who signed the
d�ocurnenptto which this certificate Is attached,and not the truthfulness,accuracy,or validity of that document.
(See Attached)
STATE OF CALIFORNIA )
)SS-