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6.C. - Page 27 of 57
<br />7.1.D, - Page 58
<br />Exhibit C Bond No. DVIFSU0686057
<br />F0104 OF FAITHFUL PERFORMANCE BOND
<br />(SUBDIVISION)
<br />KNOW ALL MEN BY THESE PRESENTS: the City of Redwood City ("City's), County of San Mateo,
<br />State of California, and Redwood City Jefferson -,_LLC , (hereinafter designated as
<br />"Principal") have entered into a Subdivision Improvement Agreement elated , 20_,
<br />("Agreement"), the tends and conditions of which arc incorporated herein by reference, whereby
<br />Principal.agrees to install and complete certain designated public improvements for the followiiig project:
<br />Jefferson and Franklin (103 Wilson
<br />[pi-qji,,,ef name to be inserted]
<br />WHEREAS, said. Principal is rCquired Crider the terms of said Alreenient to furnish a bond for the
<br />faithful performance of said Agreement;
<br />NOW, THEREI+OItE, we, the Principal, and International Fidelity Insurance Company , organized and
<br />existing under the laws of the State of NJ and atitliorized to execute bonds and undertaking as
<br />sole surety in the State of California, as Surety, are held and firmly bound unto the City of Redwood City,
<br />County of San Mateo, State of California, in the penal sun] of
<br />One Million Five Hundred Thirty nine Thousand Seven Hundred thirteen and 001100 Dollar& ($ 1,539,713.00 ----- lawful money of the
<br />United States, for the payment of which sum well and truly to be made, we bind oiiirseives, our heirs,
<br />successors, executors and administrators, jointly and severally, firmly by these presents.
<br />This bond is executed and filed to comply with the provisions of the act of the Legislature of the State of
<br />California as designated in Government Code Sections 66499 and 66199.1 and all amendments thereto.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH that if the above bounden Principal, his or its
<br />heirs, executors, achninistrators, successors or assigns, shall in all things stand to and abide by, and well
<br />and truly'keep and faithfully perform the covenants, conditions and provisions in [lie said Agreement and
<br />any alteration thereat made as therein provided, on his or their part, to be kept and performed at the time
<br />and in the- manner therein specified, and in all respects according to thein true intent and meaning, and
<br />shall indemnify and save harmless City, its Council, Commissioners, boards, conirnittees, officers, agents
<br />and employees, as therein stipulated, then this obligation shall become Mull and void; otherwise it shall be
<br />and remain in frill force and effect.
<br />As a part of the obligation secured hereby and in addition to the faco amount specified therefor, there
<br />shall be included there shall be included costs and reasonable expenses and fees, including reasonable
<br />attortley`s fees, incurred by City in successfully enforcing such obligation,, all to be taxed as costs incl
<br />included in any judgment rendered.
<br />The Surety hereby stipulates anal agrees that no change, extension of time, alteration or addition to the
<br />terms of the Agreement or to the work to be performed thereunder or the specifications accompanying the
<br />same shall in anywise affect its obligations on this bond, and it does .hereby waive notice of any such
<br />change; extension of time, alteration or addition to the terms of the agreement or to the work or to tho
<br />specifications.
<br />IN WITNESS THEREOF, the above bounden parties have executed ails instrurnent under their seals
<br />this 31st day of July 2015 the name and corporate seal of each corporate party
<br />ATTYIAGRI2015.1071GREYSTAR -103 WILSON - IA WITH TIF CREDIT rage 22 of 27
<br />REV; 05-2815 VR
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