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-' SECTION 00620 Bond No.: 6285491 PAYMENT BOND Premium Incl. in Performance Bond KNOW ALL MEN BY THESE PRËSENTS: That we, Vanguard Construction as Principal, and, :First National Insurance Company of America organized and existing unde' the laws of the State of California , and authorized to execute bonds and undertaking as sole surety, as Sur~ty, are held and firmly bound unto any and all persons named in California Civil Code Section 3181 whose claim has not been paid by {he q~~~:ck~hdred c~~f;~~ Six o;hous~~~P~~~iORundrei~~~~F~e tf.i1~~f~H8~~e totrl' (bein~ 100% of the Contr,act amount) for the payment whereof, well and truly to be made, said Principal and Sure{y bond themselves, their heirs, administrators, successors, and assigns, jointly and severally; firmly by these presents. I T'HE CONDITION QF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with the City of Redwood City ("City") to do the following work: to-wit: '2004..2005 Cost Shared Sidewalk Repair Project NOW, THEREFORE, if tile above-bounden'Principal or his subcontractors fail to pay any of the persons named in Section 3181 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 Contract, or for ~ny amounts required to be deducted, withheld, and paid over to the Employment Development Department from the wages of employees of the Contractor and his subcontractor pursuant {o Section 13020 of the Unemployment Insurance Code of the State of Caiifornia, 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 named in Section 3181 of the Civil Code of the State of California so as to gíve 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 Lhe act of the Legislature of the State of California as desigr1ated in Civil Code Sections 3247-3252. inclusive, and all amendments thereto. And the said Surety, for value received, hereby stipulates and agrees to waive tile provisions of California Civil Code Section 2819 regarding consent to change, extension of time alteration, or addition to .the terms of the Contract. or to the work to be performed thereunder, or the Specifications accompanying the sarne. shall in any way affect its obligations on this bond; and it does hereby waive notice of any such change, extensIon of time, alteration, or addition fo the terms of the Contract, or to tlìe work, or to the Specifications. . IN WITNESS WHEREOF, the above bounden parties have executed this instrument under their saLlis this 6th day of December , 2004, the name and corporate seal of PAYMI::Nï [JON!;) OeJO20-1 '"