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<br />Bond No. 4370637
<br />Premium: $2,776.00
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<br />ATTACHMENT lie"
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<br />FAITHFUL PERFORMANCE BOND
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<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood Cityf'Cily"),
<br />San Mateo County, State of California, has issued a Construction Permit to
<br />Nicholson Lamb Venture, LLC . hereinafter designated as the
<br />"Principal", for constructing the following project: authorizing client to complete
<br />various improvements at 885 Woodside Road Redwood City, CA , and
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<br />WHEREAS, said Principal is required under the terms of the permit to furnish a bond for the
<br />faithful performance of said Permit;
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<br />NOW, THEREFORE, we, the Principal, and SureTec Insurance Company . as
<br />surety. are held, and firmly bound unto Cityl,-San Mateo County, California, in the penal sum of
<br />One f-Tundred Thirteen Thousand Eight Hundre I wo & 00/100 Dollars ($113,802.00 ),
<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 heirs, executors,
<br />administrators and successors, jointly and severally, firmly by these presents.
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<br />THE CONDITION OF THIS OBLlGA nON IS SUCH, that 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 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
<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 shaH be nun 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 />Californja 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 accompanying the same shall 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.
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<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 />action, which sum shall be fIXed by the court.
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<br />II:;
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