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Executed In Duplicate BOND PREMIUM BASED ON FINAL CONlRACT PRICE SECTION 00202 PAYMENT BOND Bond No. C500638 KNOW ALL MEN BY THESe PRESENTS: That we, A v & C Construction, Inc. as Principal, and, Financial Pacific Insurance Company organized and existing under the laws of the State of California .... . and authorized to execute bonds and undertaking as $Ole surety, as Surety, sra held end finnly bound unto any and ell persons named In California Civil Code Section 3181 whole claim has not been paid by the Contractor, company or corporation In the aggregate total or Four Hundred fi ftx Thollsand ~Dd 00/100 DolIsra($450,000.OO J (being 100% of the Contract amount) ror the payment whereof, well and truly to bø made, said Principal and Surety bond themselves, their hairs, administrators, successors, and assIgns, JoIntly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBUGA ¡,ON IS SUCH that. whereas the above with the City of Redwood City rClty") to do the following wor1<, to-wit: S ta f ford Park Play Area Renovation. NOW. THEREf=ORE. If the above-bounden PrinCIpal or his suboontractor& fail to pay any of the parsons named In Section 3181 of !tie Civil Code of the State of California, or amounts due under the Unemployment Insurance Code with respect to work or tabor performed under the Contract, or for any amounts required to be deducted, withheld, and paid over to the Employment Development Department from the wages of employees of the Contractor and his subconftactor pursuant to Section 13020 of the UnømpJoyment Insurance Code or the State of CalifornIa, with respect to such work and labor, the surety will pay for ttle same, in the amount not exceeding the sum speéffied in this bond, and also, In case suit 16 brought upon this bond, a reasonable attorney's fee, to be fixed by the Court. rhls bond shall inure to the benefit of any person named in SBctlon 3181 of tho Civil Code Of the State of Callfomla 80 as to give a right of action to them or their assignees In ault brought upon this bond. This bond is executed and flied to comply with the provisions of the act of the Legislature of the State of California as designated In Civil COde Sections 3247~3252, inclusive, and all amendment¡ thereto. And the said Surety, for value received, hereby stJpulates and agreofi to waive the provisions or California Civil COde Section 2819 regarding consent to change, extension of tlmo alteratiQO, or addítion to the lenn. of the Contract, or to the work to be performed thereUnder, or tho Specifications accx>mpanying the same, shall in any way affect Its obllgalions on this bond; end It does hereby waive notice of any such change, extension of time, alteration, or addltlon to the terms of the Contract, or to the work, or to the Specifications. PA YMENT BOND 00202.1 .. T