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PERFORMANCE BOND
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City ("City"), San Mateo
<br />County, State of California, has entered a Revocable Encroachment Permit dated[ ] (the
<br />"Permit") with Kaiser Foundation Hospitals, hereinafter designated as the "Principal," pursuant to which
<br />Principal may apply for one of more Encroachment Permits ("Associated Permits") to perform certain
<br />work in the City's right-of-way which work will be performed subject to the terms of the Permit and any
<br />Associated Permit, and
<br />WHEREAS, said Principal is required under the terms of the Permit to furnish a bond for the faithful
<br />performance of any work to be performed pursuant to the Permit;
<br />NOW, THEREFORE, we, the Principal and as surety, are held and firmly bound unto
<br />City, San Mateo County, California, in the penal sum of One Hundred Thousand Dollars ($100.000),
<br />lawful money of the United States, being one hundred percent (100%) of the amount required by
<br />Section 4.1(a) of the Permit, for the payment of which sum well and truly to be made, we bind
<br />ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these
<br />presents
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or its heirs,
<br />executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and
<br />truly keep and faithfully perform the covenants, conditions, and agreements in the said Permit and any
<br />Associated Permits and any alterations made as therein provided, on his or their part, to be kept and
<br />performed at the time and in the manner therein specified, and in all respects according to their true
<br />intent and meaning, and shall indemnify and save harmless City, its Council, Commissioners, boards,
<br />committees, officers, employees and agents, as therein stipulated, then this obligation shall be null and
<br />void one year following the termination of the Permit; otherwise it shall be and remain in full force and
<br />virtue.
<br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br />California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or addition
<br />to the terms of the Permit, Associated Permits, or to the work to be performed thereunder or the
<br />specifications accompanying the same and the effect of any such change, extension of time, alteration,
<br />or addition on its obligations on this bond; and it does hereby waive notice of any such change,
<br />extension of time, alteration or addition to the terms of the Permit, or to Associated Permits, or to the
<br />work, or to the specifications.
<br />In the event City, or its successors or assigns, shall be the prevailing party in an action brought upon this
<br />bond, then, in addition to the penal sum hereinabove specified, we agree to pay to the said City, or its
<br />successors or assigns, a reasonable sum on account of attorney's fees in such action, which sum shall be
<br />fixed by the court.
<br />Page 23 of 24
<br />REV: 09-17-18 PR
<br />ATTY/AGR.2018.220/Kaiser - Revocable Encroachment Permit
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