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Premium: included Bond No:4396748 Ea�hibit C FQRM OF PAYMENi'BOND (SUBDIVISION) KNOW ALL MEN BY THESE.PRESENTS: the City of Redwood City ("Cit�'), County of San Mateo, State of California, 8fld Michael Ceschin, Nicholas Ceschin and Belinda Ceschin (hereinafter designated as "Principal") have errtered into a Subdivision Improvement �qreement dated April 15 , 2015("Agreement"), the terms and conditions of which are incorporated herein by reference, whereby Principal agrees to install and compiete certain designated public improvements for the foliowing project: (l092 Second Ave] WHEREAS, under the terms of the Agreement, the Principal is required before entering upon the performance of the wark, to f+le a good and sufficient payment bond with the the City to secure the ciaims to which reference is made in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California. NOW, THEREFORE, we, the Principai and SureTec Insurance Compan , organized and existing under the laws of the State of Texas , and duly licensed to trans surety business in the State of Cafifomia, and authorized to execute bonds and. undertaking as sole surery, as Surety, are held firmly bound unto the City and ali contractors, subcontractors, laborers, materiaimen, and other persons employed in the performance of the agreement and referred to in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civii Code of the State of California in the sum of Ei9nry-Five Thousand Nine Hundred� Dollars ($ss,939.50}, for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, tha# the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing this obligation,to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. �Thirty-Nine and 50/100 it is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 3 (commencing with Section 90U0)of Part 6 of Division 4 of the Civil Code of the State of California, so as to give a right of ac:tion ta them or their assignees in suit brought upon this bond. Should the condition of this bond be fully perFormed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. This bond is executed and filed to comply with the provisions of the act of the Legislature of the State of California as designated in Civil Code Sections 9550-9566, inclusive, and all amendments thereto. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Agreement or to the work to be perFormed thereunder or the R EV:04-09-15 VR Page 16 ofl9 ATTY/AGR.2015.064/1092 2nd Ave-Improvement Agreement