(3)_Payment_Bond_Blank_(1).pdf

Page ‐1‐ BAW&G/JWF/179179 Payment Bond

PAYMENT BOND

Project Name:

Project/Bid Package Number(s):

Contractor:

Contract:

WHEREAS, the Governing Board of the William S. Hart Union High School District in Los Angeles County, California (“District”) awarded a contract to the undersigned contractor (“Principal”) for completion of the following public‐works construction project ("Project"): ____________________________________ _________________________________________________________________________________; and

WHEREAS, the Principal's contract with the District for construction of the Project ("Contract") and/or California Civil Code Section 9550 et seq. require that the Principal furnish a labor and materials payment bond to the District that ensures the faithful performance of the Principal’s obligations pursuant to the Contract, which bond must have a penal sum equal to one hundred percent of the total amount payable by the District to the Principal pursuant to the Contract; and

WHEREAS, the undersigned surety ("Surety") is an “admitted surety insurer” in accordance with Section

995.120 of the California Code of Civil Procedure, and the Principal has caused the Surety to issue this Payment Bond for purposes of satisfying the aforementioned requirements of the Contract.

NOW, THEREFORE, we, the Principal and Surety, are held and firmly bound to the District in the penal sum of ___________________________________________ Dollars ($ _________________ ) lawful money of the United States of America, the payment of which well and truly to be made, we hereby bind, jointly and severally, ourselves and our heirs, executors, administrators and successors.

THE CONDITION OF THIS OBLIGATION is that, if the Principal, or any of its heirs, executors, administrators, successors or assigns, or any of its subcontractors, fail in connection with the Project to pay as and when required (1) any of the persons authorized by California Civil Code Section 9100 to assert a claim against the Payment Bond, (2) amounts due under the Unemployment Insurance Code with respect to work or labor performed pursuant to the Contract, or (3) any amounts required to be deducted, withheld, and paid over to the Employment Development Department from wages of employees of the Principal or any of its subcontractors pursuant to Section 13020 of the Unemployment Insurance Code with respect to such work and labor, then the Surety shall pay, in full, any and all claims for such amounts, in a total amount not in excess of the penal sum set forth herein, and also, in case suit is brought upon this Payment Bond, such reasonable attorney's fees as fixed by the court.

This Payment Bond shall inure to the benefit of any and all of the persons named in California Civil Code Section 9100, so as to give a right of action to those persons or their assigns in any suit brought upon this Payment Bond.

The Surety hereby stipulates and agrees that this Payment Bond shall not be exonerated and the Surety shall not be released from its obligations pursuant to this Payment Bond on account of: (1) any extension of time, change, amendment or other modification of the Contract or other Project documents, or of the Principal’s rights and/or obligations pursuant thereto, and Surety hereby waives

Page ‐2‐ notice of any and all such modifications; (2) any rescission or attempted rescission of the Contract or this Payment Bond; (3) any fraud of any person or entity other than fraud of a claimant in making a claim on this Payment Bond; or (4) any breach of any contract by the District, the Principal or any person or entity for whose benefit Surety has issued this Payment Bond. The Surety further stipulates and agrees that this Payment Bond shall be construed most strongly against the Surety and in favor of the persons and entities for whose benefit Surety has issued this Payment Bond.

The Surety shall not be deemed to have fully and appropriately executed this Payment Bond unless Surety has provided all of the following information:

SURETY’S SOUTHERN CALIFORNIA/LOCAL

REPRESENTATIVE

Company Name

Street Address

City, State, Zip Code

Representative Name

Representative Telephone Number

SURETY’S REPRESENTATIVE FOR FILING CLAIMS

Company Name

Street Address

City, State, Zip Code

Representative Name

Representative Telephone Number

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Page ‐3‐

Each person that signs this Payment Bond on behalf of the Principal or the Surety thereby represents and warrants that the party he or she represents has duly‐authorized him or her to sign, and thereby bind such party to, this Payment Bond.

IN WITNESS WHEREOF, the Principal and Surety have executed this Payment Bond as evidenced by the signatures, below, of their respective, duly‐authorized representatives.

PRINCIPAL

Company Name

Representative Signature

Representative Name

Representative Title

Date Signed

Principal: Attach Notary acknowledgment to this Payment Bond and, if applicable, imprint corporate seal in the space below this line.

SURETY

Company Name

Representative Signature

Representative Name

Representative Title

Date Signed

Surety: Attach Notary acknowledgment and power of attorney to this Payment Bond and imprint corporate seal in the space below this line.