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<br /> 7. 1 . D . - Page 58
<br /> Exhibit C Bond No. DVIFSU0686057
<br /> FORM OF FAITHFUL PERFORMANCE BOND
<br /> (SUBDIVISION)
<br /> KNOW ALL MEN BY THESE PRESENTS: the City of Redwood City ("City"), County of San Mateo,
<br /> State of California, and Redwood City Jefferson LLC , (hereinafter designated as
<br /> "Principal") have entered into a Subdivision Improvement Agreement dated , 20
<br /> ("Agreement"), the tents 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 /> Jefferson and Franklin (103 Wilson)
<br /> [project name to be inserted]
<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 International Fidelity Insurance Company , organized and
<br /> existing under the taws of the State of NJ 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 /> One Million Five Hundred Thirty nine Thousand Seven Hundred thirteen and 00/100 Dollars. ($ 1 ,539,713.00 ) 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 asigns, 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 Thtent 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 31st day of July 2015 the name and corporate seal of each corporate party
<br /> AT1Y/AGR/2015.107IGREYSTAR - 103 WILSON - IA WITH TIE CREDIT Page 22 of 27
<br /> REV: 05-28.15 VR
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