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<br />Exhibit C
<br />FORM OF FAITHFUL PERFORMANCE BOND
<br />(SUBDIVISION)
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: the City of Redwood City (“City”), County of San Mateo,
<br />State of California, and _____________________________________, (hereinafter designated as
<br />“Principal”) have entered into a Subdivision Improvement Agreement dated _____________, 20__
<br />(“Agreement”), the terms and conditions of which are incorporated herein by reference, whereby
<br />Principal agrees to install and complete certain designated public improvements for the following project:
<br />
<br />_________________________________________________________________
<br />[project name to be inserted]
<br />
<br />WHEREAS, said Principal is required under the terms of said Agreement to furnish a bond for the
<br />faithful performance of said Agreement;
<br />NOW, THEREFORE, we, the Principal, and__________________________________, organized and
<br />existing under the laws of the State of _________ and authorized to execute bonds and undertaking as
<br />sole surety in the State of California, as Surety, are held and firmly bound unto the City of Redwood City,
<br />County of San Mateo, State of California, in the penal sum of
<br />__________________________________________ Dollars ($______________) lawful money of the
<br />United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs,
<br />successors, executors and administrators, jointly and severally, firmly by these presents.
<br />This bond is executed and filed to comply with the provisions of the act of the Legislature of the State of
<br />California as designated in Government Code Sections 66499 and 66499.1 and all amendments thereto.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH that if the above bounden Principal, his or its
<br />heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well
<br />and truly keep and faithfully perform the covenants, conditions and provisions in the said Agreement and
<br />any alteration thereof made as therein provided, on his or their 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, and
<br />shall indemnify and save harmless City, its Council, Commissioners, boards, committees, officers, agents
<br />and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be
<br />and remain in full force and effect.
<br />As a part of the obligation secured hereby and in addition to the face amount specified therefor, there
<br />shall be included there shall be included costs and reasonable expenses and fees, including reasonable
<br />attorney’s fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and
<br />included in any judgment rendered.
<br />The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
<br />terms of the Agreement or to the work to be performed thereunder or the specifications accompanying the
<br />same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
<br />change, extension of time, alteration or addition to the terms of the agreement or to the work or to the
<br />specifications.
<br />IN WITNESS THEREOF, the above bounden parties have executed this instrument under their seals
<br />this_______ day of ___________________ 20__ the name and corporate seal of each corporate party
<br />ATTY/AGR/2015.107/GREYSTAR - 103 WILSON - IA WITH TIF CREDIT
<br />REV: 05-28-15 VR
<br />Page 22 of 27
<br />7.1.D. - Page 58
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