Laserfiche WebLink
Exhibit D <br />I37 7i5to] 4117-11:7 71:111 A-101�I7 <br />WHEREAS, the City of Redwood City ("City'), County of San Mateo, State of <br />California, and , (hereinafter designated <br />as "Principal") have entered into an Improvement Agreement dated , <br />20_ ("Agreement"), the terms and conditions of which are incorporated herein by <br />reference, whereby Principal agrees to install and complete certain designated public <br />improvements for the following project: <br />2075 Broadway <br />WHEREAS, said Principal is required under the terms of said Agreement to <br />provide a warranty security. <br />NOW, THEREFORE, we, the Principal and of <br />organized and existing under the laws of the State of <br />duly licensed to transact surety business in the State of California and <br />authorized to execute bonds and undertaking as sole surety, as Surety, are hereby held <br />and firmly bound unto the City in the amount of Dollars <br />($ ), for the payment of which sum well and truly to be made, we bind ourselves, <br />our heirs, successors, executors and administrators, jointly and severally, firmly by <br />these presents.. <br />THE CONDITION OF THIS OBLIGATION IS SUCH THAT, if principal (or its <br />heirs, executors, administrators, successors, or assigns approved by the City) performs <br />the covenants, conditions, and obligations of the warranty requirements of Section <br />13.1(c) of the Agreement, including the obligation to indemnify, defend, and hold <br />harmless the City, set forth in Section 17, then this obligation shall become null and <br />void; otherwise it shall be and remain in full force and effect. <br />The Surety's obligation under this bond shall hold good for a period of one (1) year from <br />the date of the City's acceptance of said work. <br />The Surety's obligation under this bond shall arise after the City has provided written <br />notice to the Surety, at the address set forth below, of the Principal's default under the <br />Agreement, and the Principal's failure to cure the default in accordance with the terms <br />of the Agreement. <br />The Surety hereby agrees, for value received, that its obligations under this bond shall <br />in no way be impaired or modified by any modification to the Agreement by the City and <br />the Principal, and the Surety hereby waives notice of any such modification. <br />REV: 08-31-17 VR <br />Page 21 of 22 <br />ATTY/AGR.2017.195/Lane - Broadway, LLC - IA <br />