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Exhibit B
<br /> FORM OF FAITHFUL PERFORMANCE BOND
<br /> (SUBDIVISION)
<br /> KNOW ALL MEN BY THESE PRESENTS: the City of Redwood City ("City"), County of San
<br /> Mateo, State of California, and , (hereinafter
<br /> designated as "Principal") have entered into a Subdivision Improvement Agreement dated
<br /> , 20_("Agreement"), the terms and conditions of which are incorporated herein
<br /> by reference, whereby Principal agrees to install and complete certain designated public
<br /> improvements for the following project:
<br /> (project name to be inserted]
<br /> WHEREAS, said Principal is required under the terms of said Agreement to furnish a bond for
<br /> the faithful performance of said Agreement;
<br /> NOW, THEREFORE, we, the Principal, and ,
<br /> organized and existing under the laws of the State of and authorized to execute
<br /> bonds and undertaking as sole surery in the State of Califomia, as Surety, are held and firmly
<br /> bound unto the City of Redwood City, County of San Mateo, State of California, in the penal
<br /> sum of Dollars ($ ) lawful
<br /> money of the United States, for the payment of which sum well and truly to be made, we bind
<br /> ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by
<br /> these presents.
<br /> This bond is executed and filed to comply with the provisions of the act of the Legislature of the
<br /> State of Califomia as designated in Government Code Sections 66499 and 66499.1 and all
<br /> amendments thereto.
<br /> THE CONDITION OF THIS OBLIGATION IS SUCH that if the above bounden Principal, his or
<br /> its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide
<br /> by, and well and truly keep and faithfully perform the covenants, conditions and provisions in the
<br /> said Agreement and any alteration thereof made as therein provided, on his or their part, to be
<br /> kept and pertormed at the time and in the manner therein specified, and in all respects
<br /> according to their true intent and meaning, and shall indemnify and save harmless City, its
<br /> Council, Commissioners, boards, committees, officers, agents and employees, as therein
<br /> stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full
<br /> force and effect.
<br /> As a part of the obligation secured hereby and in addition to the face amount specified therefor,
<br /> there shall be included there shall be included costs and reasonable expenses and fees,
<br /> including reasonable attorney's fees, incurred by City in successfully enforcing such obligation,
<br /> all to be taxed as costs and included in any judgment rendered.
<br /> The Surety hereby stipulates and agrees that no change, extension of time, alteration or
<br /> addition to the terms of the Agreement or to the work to be pertormed thereunder or the
<br /> specifications accompanying the same shall in anywise affect its obligations on this bond, and it
<br /> REV:06-05-14 VR
<br /> Page 14 of 19
<br /> ATTY/AGR.2014.090/RWC 1856 755 Brewster(IA)
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