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1987-1215_ZAGROS COMPANY_Performance Bond (2)EXECUTED IN TRIPLICATJ& PERFORMANCE BOND ND N0. 1141180 EMIUM: $945.00 BOND i'F'EMi'um BASED ON KNOW ALL MEN BY THESE PRESENTS: FINAL CON' RACT PRICE That Zagros Company , as Principal, hereinafter called CONTRACTOR, and Amwest Surety Insurance Companv, as Surety, hereinafter called SURETY, are held and firmly bound unto the City of San 3uan Capistrano, as Obligee, hereinafter called CITY, in the amount of Thirty-nine Thousand Four'Hundred Sixteen and 30/100 ----------Dollars for payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally, fairly by these presents. WHEREAS, Contractor has by written agreement dated December 15, 1987 , entered into a (describe agreement): construction of Vereda Bikewav, Via Estenaga to Avenida Siega which contract is by reference made a part hereof; NOW, THEREFORE, the condition of this obligation is such that, if Principal shall promptly and faithfully perform said agreement, then this obligation shall be null and void; otherwise it shall remain in full force and effect. Surety waives whatever legal right it may have to require that a demand be made first against the principal in the event of default. BE IT FURTHER RESOLVED, that: 1. As a part of the obligation secured hereby, and in additionto the face amount specified, there shall be included costs and reasonable expenses and fees, including. reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. -20- 2.' Said Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration, or modification of the contract documents or of the work to be performed thereunder, shall in any way affect its obligations or this bond, and it does hereby waive notice of any such change, extension of time, alterations, or modifications of the contract documents or of work to be performed thereunder. Executed this 31st day of December , 19 87 , at Woodland Hills , California. APPROVED AS TO FORM PRINCIPAL Zagros Company (NOTARIZATION AND SEAL) SURETY west surety ;P,&urance Company Cindy I dley, Attorney-in-fact (NOTARIZA ON AND SEAL) 1 STATE OF CALIFORNIA, COUNTY OF Los Angeles s, On __ December A1.1987 , before me a Notary Public, within and for the said County and State, personally appeared Cindy L. Ridley , known to me (or proved to me on the basis of satifactory evidence) tobe the person whose name is subscribed to the within instrument as the Attorney in Fact of and for the AMWEST SURETY INSURANCE COMPANY, and acknowledged to me that tie subscribed the name of the AMWEST SURETY INSURANCE COMPANY thereto as Surety, and his own name as Attorney in Fact. r i ;r — pA t � ��.,. 7l �mmLtp Dcv; .0, 1989