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BOND PREMIUM IS SUBJECT TO CHANGE
<br />BASED ON THE FINAL CONTRACT AMOUNT
<br />BOND NO. EACX157000083
<br />EXECUTED IN DUPLICATE
<br />FAITHFUL PERFORMANCE BOND
<br />PREMIUM: $8,197.00
<br />Whereas, the City of Redlands ("City"), State of California, and California Professional
<br />Engineering, Inc. (hereinafter designated as "Principal") have entered into an agreement dated
<br />September 5, 2023 ("Agreement") whereby Principal agrees to install and complete certain public
<br />improvements (the "Work"), which said Agreement is identified as HSIP Cycle 9 Orange Blossom
<br />Trail Phase 3 Crossings, City Project No. 47033, Federal Project No. HSIPL 5083(024) and is
<br />hereby referred to and made a part hereof; and
<br />Whereas, said Principal is required under the terms of the Agreement to furnish a bond for
<br />the faithful performance of the Work, now, therefore, we, the Principal and,
<br />Endurance Assurance Corporation , as Surety, are held and firmly bound unto the City in the penal
<br />sum of Two Hundred Fifty -Nine Thousand Two Hundred Forty -Five dollars ($259,245) lawful
<br />money of the United States, for the payment of which sum we bind ourselves, and our heirs,
<br />successors, executors and administrators, jointly and severally, firmly by these presents.
<br />The condition of this obligation is such that if the above bounded Principal, his or its heirs,
<br />executors, administrators, successors or assigns, shall in all things stand to and abide by, and well
<br />and truly keep and perform the covenants, conditions and provisions in the Agreement and any
<br />alteration thereof made as therein provided, on his or its part, to be kept and performed at the time
<br />and in the manner therein specified, and in all respects according to their true intent and meaning,
<br />and shall faithfully fulfill the one-year guarantee of all materials and workmanship, and shall
<br />defend, indemnify and save harmless the City and its elected officials, officers, agents and
<br />employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall
<br />be and remain in full force and effect.
<br />As a part of the obligation secured hereby and in addition to the face amount specified
<br />therefor, there shall be included costs and reasonable expenses and fees, including reasonable
<br />attorneys' fees, incurred by the City in successfully enforcing such obligations, all to be taxed as
<br />costs and included in the judgment rendered.
<br />As a condition precedent to the satisfactory completion of the Work, the above obligation
<br />shall hold good for a period of one (1) year or longer if required by the Agreement after the
<br />acceptance of the work by the City, during which time if the Principal shall fail to make full,
<br />complete, and satisfactory repair and replacements and totally protect the City from loss or damage
<br />made evident during this period from the date of completion of the Work, and resulting from or
<br />caused by defective materials or faulty workmanship, the above obligation in penal sum thereof
<br />shall remain in full force and effect. The obligations of Surety hereunder shall continue so long as
<br />any obligation of the Principal remains.
<br />Whenever the Principal shall be, and is declared by the City to be, in default under the
<br />Agreement, the City having performed the City obligations thereunder, the Surety shall promptly
<br />remedy the default, or shall promptly, at the City's option:
<br />1. Complete the Work in accordance with its terms and conditions; or
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