1979-1105_BELFORD TERRACE_Labor & Materials Bond No. 006251• •Bond No. -351-d
Tract No. 9382
or Project
BOND FOR IMPROVEMENTS
(LABOR AND MATERIALS)
WHEREAS, the City Council of the City of San Juan Capistrano, County of
Orange, State of California, and Belford Terrace whose
mailing address is _1¢841 Yorba St. Tustin Ca. 92680
,
-hereinafter designated as Principal, have entered into an agreement whereby
Principal agrees to install and complete certain designated improvements,
which said agreement dated , 19 and identified
as (Subdivision Agreement for Tract No. (Project )
is hereby referred to and made a part hereof; and
WHEREAS, tinder the terms of said agreement,'Principal is required before
entering upon the performance of the work, to file a good and sufficient
payment bond with the City of San Juan Capistrano to secure the claims to
which reference is made in Title 15 (commencing with Section 3082) of
Part 4 of Division 3 of the Civil Code of the State of California.
NOW, THEREFORE, said Principal and the undersigned as corporate Surety,
are held firmly bound unto the City of San Juan Capistrano, and all con-
tractors, subcontractors, laborers, materialmen and other persons employed
in the performance of the aforesaid agreement and referred to in the afore-
said Code of Civil Procedure in the sum of One hundred fifty six thousand & no/100-
Dollars ($ 156,nOn.00 ), for materials furnished or labor thereon of any
kind, or for amounts due under the Unemployment Insurance Act with respect
to such work or labor, that said Surety will pay the same in an amount not
exceeding the amount hereinabove set forth, and also in case suit is brought
upon this bond, will pay, in addition to the face amount thereof, costs and
easonable expenses and fees, including reasonable attorney's fees, incurred
by City in successfully enforcing such obligation, to be awarded and fixed
by the Court, and to be taxed as costs and to be included in the judgment
therein rendered.
It is expressly stipulated and agreed that this bond shall inure to the
benefit of any and all persons, companies, and corporations entitled to
file claims under Title 15 (commencing with Section 3082) Part 4 of
Division 3 of the Civil Code, so as to give a right of action to them or
their assigns in any suit brought upon this bond.
Should the condition of this bond be fully performed, then this obligation
shall become null and void, otherwise it shall be and remain in full force
and effect.
The Surety hereby stipulates and agrees that no change, extension of time,
alteration or addition to the terms of the said agreement or the specifi-
cations accompanying the same shall in any manner affect its obligations
on this bond, and it does hereby waive notice of any such change, extension,
alteration, or addition.
IN WITNESS WHEREOF, this instrument has been duly executed by the Principal
Nand Surety above named, on November 5 19 79
PRINCIPAL SURETY
aplford Terrace 'Covenant Mutual Insuranc Company
(Suret me)
By
By By
or ey in -Fact)
Address of Subdivider:
Arthur J. Clemtt Jr.
executed in duplicate
NOTE: Acknolwedgements of execution by Principals and Surety must be
attached. Bond must be attached to Subdivision Agreement.