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EXHIBTI'"B" PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, as Principal, and, organiz ed and existing under the laws of the State of California , and authorized to execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto the City and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of work under the Agreement and Associated permits who are referred to in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California whose claim has not been paid in the aggregate total of Two Hundred Thousand Dollars ($200,000) (being 100% of the amount required by Section 4.1(b) of the Agreement (as defined below)) for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above Principal and the City of Redwood City, California ("City") have entered into that certain Encroachment Agreement dated [ ] ("Agreement") pursuant to which Principal may apply for one of more Encroachment Permits ("Associated Permits") to perform certain work in the City's right-of-way, which work will be performed subject to the terms of the Agreement and any Associated Permit; NOW, THEREFORE, if the above-bounden Principal or his subcontractors fail to pay any of the persons named in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California, or amounts due under the Unemployment Insurance Code with respect to work or labor perFormed under the Agreement and any Associated Permits, or for any amounts required to be deducted, withheld, and paid over to the Employment Development Department pursuant to Section 13020 of the Unemployment Insurance Code of the State of California, with respect to such work and labor, the surety will pay for the same, in the amount not exceeding the sum specified in this bond, and also, in case suit is brought upon this bond, a reasonable attorney's fee, to be fixed by the Court. This bond shall inure to the benefit of any person entitled to file claims under Title 3 (commencing with Section 9000)of Part 6 of Division 4 of the Civil Code of the State of California of the Civil Code of the State of California so as to give a right of action to them or their assignees in suit brought upon this bond. 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 Civit Code Sections 9550-9566, inclusive, and all amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of California Civil Code Section 2819 regarding consent to change, extension of time alteration, or ATTY/AGR/2015.260/OPTIC ACCESS,LLC FIBER OPTIC FACILITIES REV:01-07-16 JS&VR Page 18 of 20