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Bond No. DVIFSU0693682 <br /> Exhibit C <br /> F�RM OF PAYMENT BOND <br /> (SUBDIVISION) <br /> KN�W ALL MEN BY THESE PRESENTS: the City of Redwood City ("City"), County of San <br /> Mateo, 5tate of California, and RWC ECR Venture, LLC , (hereinafter <br /> designated as "Prinapal") have entered into a 5ubdivision Improvement Agreement dated <br /> , 20 ("Agreement"}, the terms and conditions of which are incorporated herein <br /> by reference, whereby Principal agrees to install and complete certain designated public <br /> improvements for the following project: <br /> 1305 EI Camino Real(RWC 137) <br /> [project name ta be inserted] <br /> WHEREAS, under the terms of the Agreement, the Principal is required before entering upan <br /> the perfo�rnance of the work, to file a good and sufficient payment bond with the the City to <br /> secure the claims to which reference is made in Title 3(commencing with 5ection 9QOQ) of Part <br /> 6 of�vision 4 of the Civil Code of the State of Califomia. <br /> NOW, THEREFORE, We, th2 Principal �Ild International Fidelity Insurance Company <br /> , organized and existing under the laws of the State of NJ , and duly <br /> licensed to trans surety business in the State of California, and authorized to execute bonds and <br /> undertaking as sole surety, as Surety, are held firmly bound unto the City and all contractors, <br /> subcontractors, laborers, materialmen, and other persons employed in the performance of the <br /> agreement and referred to in Title 3 (commencing with 5ection 9000) of Part 6 of Division 4 of <br /> One Million Two Hundred Five Thousand Fiva Hundred Forty �I�a� <br /> the Civil Code of the State of Califomia in the sum of�P�P�9�d�„o� <br /> �g,,2o5,547.00}, for materials fumished or labor thereon of any kind, or for amounts due under the <br /> Unemployment Insurance Act with respect to this wark or labor, that the surety will pay the <br /> same in an amount not exceeding the amount hereinabove set forth, and also in case suit is <br /> brought upon this bond, will pay, in addition to the face amount ther�f, costs and reasonable <br /> expenses and fees, including reasonable attomey's fees, incurred by City in successfully <br /> enforcing this obligation, to be awarded and fixed by tne court, and to be taxed as costs and to <br /> be induded in the judgment therein rendered. <br /> It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and <br /> all persons, companies, and corporations entitled to file claims under Title 3 {commencing with <br /> Section 9000} of Part 6 of Division 4 of the Civil Code of the State of California, so as to give a <br /> right of action to them or their assignees in suit bra�ght upon this bond. <br /> Should the condition of this bond be fully pertormed, then this obligation shall become null and <br /> void, otherwise it shall be and remain in full force and effect. <br /> This bond is executed and filed to comply with the provisions of the act of the Legislature of the <br /> State of Califomia as designated in Civil Code Sections 955Q-9566, inclusive, and all <br /> amendments thereto. <br /> The Surety hereby stipulates and agrees that no change, extension of time, alteration or <br /> addition to the terms of the Rgreement or to the work to be performed thereunder or the <br /> ATTYIAGRlFORM SUBDIVISION IMPROVEMENT AGREEMENT <br /> REV:09-28-15 VR <br /> Page 16 of 19 <br />