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6.1). - Page 19 of 26
<br />Exhibit B
<br />FORM OF FAITHFUL PERFORMANCE BOND
<br />(SUBDIVISION)
<br />KNOW ALL HIEN BY THESE PRESENTS: the City of Redwood City ("City"), County of San
<br />Mateo, State of California, and , (hereinafter
<br />designated as "Principal") have entered into a Subdivision Improvement Agreement dated
<br />,20 ("Agreement'), the terms and conditions of which are incorporated herein
<br />by reference, whereby Principal agrees to install and complete certain designated public
<br />improvements for the following project:
<br />950 EI Camino Real
<br />WHEREAS, said Principal is required under the terms of said Agreement to furnish a bond for the
<br />faithful performance of said Agreement;
<br />NOW, THEREFORE, we, the Principal, and ,
<br />organized and existing under the laws of the State of and authorized to execute bonds
<br />and undertaking as sole surety in the State of California, as Surety, are held and firmly bound
<br />unto the City of Redwood City, County of San Mateo, State of California, in the penal sum of
<br />. Dollars ($ ) lawful money
<br />of the United States, 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 these
<br />presents.
<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 Government Code Sections 66499 and 66499.1 and all
<br />amendments thereto_
<br />THE CONDITION OF THIS OBLIGATION IS SUCH that if the above bounden Principal, his or its
<br />heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by,
<br />and well and truly keep and faithfully perform the covenants, conditions and provisions in the said
<br />Agreement and any alteration thereof made as therein provided, on his or their part, to be kept
<br />and performed at the time and in the manner therein specified, and in all respects according to
<br />their true intent and meaning, and shall indemnify and save harmless City, its Council,
<br />Commissioners, boards, committees, officers, agents and employees, as therein stipulated, then
<br />this obligation shall become null and void; otherwise it shall be and remain in full force and effect.
<br />As a part of the obligation secured hereby and in addition to the face amount specified therefor,
<br />there shall be included there shall be included costs and reasonable expenses and fees, including
<br />reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be
<br />taxed as costs and included in any judgment rendered.
<br />The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition
<br />to the terms of the Agreement or to the work to be performed thereunder or the specifications
<br />accompanying the same shall in anywise affect its obligations on this bond, and it does hereby
<br />ATTYIAGR.2016.116/150 ECR - SummerHiil - IA
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