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<br /> FAITHFUL PERFORMANCE BOND
<br /> KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br /> San Mateo County, State of California, has entered an Encroachment Agreement
<br /> dated [ ] (the "Agreement") with , hereinafter designated as the
<br /> "Principal", pursuant to which Principal may apply for one of more Encroachment Permits
<br /> ("Associated Permits") to perform certain work in the City's right-of-way which work will be
<br /> perFormed subject to the terms of the Agreement and any Associated Permit, and
<br /> WHEREAS, said Principal is required under the terms of the Agreement to furnish a bond for the
<br /> faithful perFormance of any work to be performed pursuant to the Agreement;
<br /> NOW, THEREFORE, we, the Principal and ____________ as surety, are held and firmly
<br /> bound unto City, San Mateo County, California, in the penal sum of Two Hundred Thousand
<br /> Dollars ($200,000), lawful money of the United States, being one hundred percent (100°/o) of the
<br /> amount required by Section 4.1(a) of the Agreement, for the payment of which sum well and truly
<br /> to be made, we bind ourselves, our heirs, executors, administrators and successors,jointly and
<br /> severally, firmly by these presents.
<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 agreements in
<br /> the said Agreement and any Associated Permits and any alterations made as therein provided, on
<br /> his or their part, to be kept and performed at the time and in the manner therein specified, and in
<br /> all respects according to their true intent and meaning, and shall indemnify and save harmless
<br /> City, its Council, Commissioners, boards, committees, officers, employees and agents, as
<br /> therein stipulated, then this obligation shall be null and void one year following the termination
<br /> of the Agreement; otherwise it shall be and remain in full force and virtue.
<br /> And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br /> California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br /> addition to the terms of the Agreement, Associated Permits, or to the work to be perFormed
<br /> thereunder or the specifications accompanying the same and the effect of any such change,
<br /> extension of time, alteration, or addition on its obligations on this bond; and it does hereby waive
<br /> notice of any such change, extension of time, alteration or addition to the terms of the Agreement,
<br /> or to Associated Permits, or to the work, or to the specifications.
<br /> In the event City, or its successors or assigns, shall be the prevailing party in an action brought
<br /> upon this bond, then, in addition to the penal sum hereinabove specified, we agree to pay to the
<br /> said City, or its successors or assigns, a reasonable sum on account of attorney's fees in such
<br /> action, which sum shall be fixed by the court.
<br /> ATIY/AGR/2015.260/OPTIC ACCESS,LLC FIBER OPTIC FACILITIES
<br /> REV:01-07-16 JS&VR
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