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7. 1 . D. - Page 60 <br /> Exhibit D Bond No. DVIFSU0686057 <br /> FORM OF PAYMENT BOND <br /> (SUBDIVISION) <br /> KNOW ALL MEN BY THESE PRESENTS: the City ofRedwood.Ci'ty ("City''), County ofSan, 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 teens 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, under the tenns of the Agreement, the Principal is required before entering upon the <br /> performance of the work, to file a good and sufficient payment bond with the the City to secure the claims <br /> to which reference is made in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil <br /> Code of the State of California, <br /> NOW, THEREFORE, we, the Principal and International Fidelit Insurance Com •an <br /> organized and existing under the laws of the State of NJ , and duly licensed to trans surety <br /> business in the State of California, and authorized to execute bonds and undertaking as sole surety, as <br /> Surety, are held firmly bound unto the City and all contractors, subcontractors, laborerS,.lnaterialmen, and <br /> other persons employed.in the performance of the agreement and referred to in Title 3 (commencing with <br /> Section . 9000) of: PaatT6 of ivision 4 of the Civil Code of the State of California in the sum of <br /> Hundred thirteen and 00/100 Dollars (SI,539,713.00), for materials furnished or labor thereon of any <br /> kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that <br /> the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in <br /> case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable <br /> expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing' this <br /> obligation, to be awarded and fixed by the cowl, and to be taxed as costs and to be included in the <br /> judgment therein rendered. <br /> It is hereby expressly stipulated andagreed that this bond shall inure to the'benefit of any and:all persons, <br /> companies, and corporations entitled to file claims'under Tide 3 (commencing with Section 9000) of Part <br /> 6 of Division 4 of the Civil Code of the State of California, so as to give as tight of action to them or their <br /> assignees in suit brought upon this bond. <br /> Should the condition of this bond be fully performed, then this obligation shall become null and void, <br /> otherwise it shall be and remain in full force and effect.. <br /> ATTYfAGR/2015.107/GREYSTAR • 103 WILSON - IA WITH 1'IF CREDIT Page 24 of 27 <br /> REV: 05-28-15 VR • <br />