Project 130 - Bond - Irvine Pipeline - 1993-08-26 r BOND NO 143 03 97
-p Continental 4 s' Y PREMIUM. $1 895 00
Insurance. �(, PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS.
That, IRVINE PIPELINE COMPANY INC
as Principal, hereinafter called the Principal, and
FIREMEN S INSURANCE COMPANY OF NEWARK, NEW JERSEY
a corporation organized and existing under the laws of the State of NEW JERSEY with its principal office at 180
Maiden Lane,in the City of New York,New York,as Surety hereinafter called the Surety are held and firmly bound unto
COSTA MESA SANITARY DISTRICT
as Obligee, hereinafter called the Obligee, in the just and full sum of ONE HUNDRED THIRTY ONE THOUSAND
SIX HUNDRED TWENTY FIVE AND N0/100 ($131 625 00)
Dollars,
to the payment of which sum well and truly to be made, the said Principal and Surety bind themselves,their respective
heirs, administrators, executors, successors and assigns, jointly and severally firmly by these presents.
Whereas, the Principal has entered into a certain written contract with the Obligee, dated the 19TH
day of AUGUST 19 93 to PROJECT NO 1112100-130 RECONSTRUCTING
FORCE MAIN FOR ELDEN PUMP STATION PHASE I
E which contract is hereby referred to and made a part hereof,as fully and to the same extent as if copied at length herein.
Now Therefore,the condition of this obligation is such that,if the Principal shall faithfully perform all of the obligations
of the Principal under the contract, and shall fully indemnify and save harmless the Obligee from all cost and damage
which the Obligee may suffer by reason of the failure of the Principal so to do and shall fully reimburse and repay the
Obligee all reasonable outlays and expense which the Obligee may incur by reason of such failure;then this obligation
shall be null and void, otherwise it shall remain in full force and effect.
The foregoing obligation, however is limited by the following express conditions, the performance of each of which
shall be a condition precedent to any right of claim or recovery hereunder:
1.In the event of any default on the part of the Principal,a written statement of the particular facts showing the date and
l nature of such default shall be given by the Obligee to the Surety as promptly as possible after'such default has
become known to the Obligee, and shall be forwarded by registered mail to the Surety
2. If the Principal shall fail to comply with the provisions of the contract to such an extent that the contract shall be
forfeited,the Surety will have the right and opportunity to assume the remainder of the contract and at its option to
perform or sublet the same.
3. No action,suit or proceeding shall be had or maintained against the Surety on this instrument unless the same be
brought or instituted and process served upon the Surety within twelve (12) months after completion of the work
specified in said contract whether such work be completed by the Principal,Surety or Obligee; but if there is any
maintenance or guarantee period provided in the contract for which said Surety is liable,an action for maintenance
may be brought within three (3) months from the expiration of the maintenance period, but not afterwards.
Signed and sealed this 26TH day of AUGUST A.D 1993
IRVINE PIPELINE COMPANY INC (Seal)
Principal
LBY
App OVED 4 FIREMEN'S INSURANCE COMPANY_ OF NEWARK, NNW JERSEY (Seal)
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