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PAYMENT BOND <br />KNOW ALL MEN BY THESE PRESENTS: That we, <br />as Principal, and, organized and <br />existing under the laws of the State of California <br />persons named in <br />Contractor, <br />, and authorized <br />as sole surety, as Surety, are held and firmly bound unto <br />)rnia Civil Code Section 3181 whose claim has not been <br />company or corporation <br />to execute <br />any and all <br />paid by the <br />in the aggregate total of <br />Dollars ($ ) (being <br />100% of the Contract amount) for the payment whereof, well and truly to be made, said Principal <br />and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and <br />severally, firmly by these presents. <br />THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with <br />the City of Redwood City ("City") to do the following work, to -wit: <br />MIDDLEFIELD ROAD BICYCLE AND PEDESTRIAN IMPROVEMENTS PROJECT <br />NOW, THEREFORE, if the above -bounden Principal or his subcontractors fail to pay any of the <br />persons named in Section 3181 of the Civil Code of the State of California, or amounts due under <br />the Unemployment Insurance Code with respect to work or labor performed under the Contract, <br />or for any amounts required to be deducted, withheld, and paid over to the Employment <br />Development Department from the wages of employees of the Contractor and his subcontractor <br />pursuant to Section 13020 of the Unemployment Insurance Code of the State of California, with <br />respect to such work and labor, the surety will pay for the same, in the amount not exceeding the <br />sum specified in this bond, and also, in case suit is brought upon this bond, a reasonable <br />attorney's fee, to be fixed by the Court. <br />This bond shall inure to the benefit of any person named in Section 3181 of the Civil Code of the <br />State of California so as to give a right of action to them or their assignees in suit brought upon <br />this bond. <br />This bond is executed and filed to comply with the provisions of the act of the Legislature of the <br />State of California as designated in Civil Code Sections 3247-3252, inclusive, and all <br />amendments thereto. <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 <br />addition to the terms of the Contract, or to the work to be performed thereunder, or the <br />Specifications accompanying the same, shall in any way affect its obligations on this bond; and it <br />does hereby waive notice of any such change, extension of time, alteration, or addition to the <br />terms of the Contract, or to the work, or to the Specifications. <br />IN WITNESS WHEREOF, the above bounden parties have executed this instrument under their <br />seals this day of 20_ the name and corporate seal of <br />