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<br />ATTACHMENT "e"
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<br />BOND #58626885
<br />Prenliunl: $9,684.00
<br />
<br />FAITHFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that. WHEREAS, the City of Redwood City("Citylr)J
<br />San Mateo Coun!y, State of California, has issued a Construction Permit to
<br />KB HO~,fE South Bay Inc., a California corporation. hereinafter designated as the
<br />Ilprinclpal'1, for constructing the following project: The Preserve Townhonles
<br />, and
<br />
<br />WHEREAS. said Principal is required under the terms of the permit to furnish a bond for the
<br />faithful performance of said Permit;
<br />
<br />NOW, THEREFORE, we, the Principal, and The Continent:11 Insurance COnlpanY , as
<br />surety, are held and firmly bound unto City, San Mateo County, California. in the penal sum of
<br />One :t\Jillion Nine Hundred Thirty Six Thousand * Dollars ($ 1.936.812.00 ),
<br />lawful money of the United States, being one hundred percent (100%) of the Permit amount. for
<br />the payment of which sum well and truly to be made. we bind ourselves. our hefrs, executors,
<br />administrators and successors, jointly and severally, firmly by these presents.
<br />
<br />THE CONDI~I.ON OF THIS OBLIGATION I~ SUCfo:I. t.~at if the above bounden Principal, his or
<br />its heirs, executors, administrators, successors or 'assigns, shall in all things stand to and abide
<br />by, and well and truly keep and faithfully perform the covenants, conditions, and agreements in
<br />the said Permit and any alterations made as therein p:r.ovided. on his or their part. to be kept and
<br />performed at the time and in th~ manner therein s.peclfled, and In all respects according to their
<br />true intent and meaning, and shall indemnify and save harmless City, its Council,
<br />Commissioners, boards, committees, officers, employees and agents, as therein stipulated.
<br />then this obligation shall be null and void; otherwise it shall be and remain in full force and
<br />virtue.
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<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 Permit or to the work to be performed thereunder or the
<br />Specifications acoompanying the same shan in any wise affect its obligations on this bond; and
<br />it does hereby waive notice of any such change. extension of time, alteration or addition to the
<br />terms of the Permit, or to the work, or to the Specifications.
<br />
<br />In the event City, or its successors or assigns, shall be the prevailing party In an action brought
<br />upon this bond, then. In addition to the penal sum hereinabove specified. we agree to pay to the
<br />said City. or its successors or assigns. a reasonable sum on account of attorney's fees In such
<br />acUon, whIch sum shall be fixed by the court.
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<br />* Eight Hundred Twelve and NO/OOO
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