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EXHIBIT G -I
<br />Form of Performance Bond
<br />WHEREAS: the City of Redwood City ("City"), HCP LS Redwood City, LLC, Metropolitan
<br />Life Insurance Company, and Seaport Centre Owners' Association, a California corporation
<br />(hereinafter designated as "Principal") have entered into a Levee Financing and Improvement
<br />Agreement dated October 27, 2024 ("Agreement"), the terms and conditions of which are
<br />incorporated herein by reference, whereby Principal agrees to install and complete certain
<br />designated levee improvements for the following project: "Seaport Centre/Seaport Plaza'; and
<br />WHEREAS, said Principal is required under the terms of said Agreement to furnish a bond for
<br />the 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 ("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 Government Code Sections
<br />66499 and 66499.1 and all amendments thereto.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH that if the above bounden Principal,
<br />his or its heirs, executors, administrators, successors or assigns, shali in all things stand to and
<br />abide by, and well and truly keep and faithfully perform the covenants, conditions and provisions
<br />in the said Agreement and any alteration thereof made as therein provided, on his or their part, to
<br />be kept and performed at the time and in the manner therein specified, and in all respects
<br />according to their true intent and meaning, and shall indemnify and hold harmless City, its
<br />Council, Commissioners, boards, committees, officers, agents and employees, as therein
<br />stipulated, then this obligation will become null and void; otherwise it shall be and remain in full
<br />force and effect.
<br />The Surety's obligation under this bond shall arise after the City has provided written notice to
<br />the Surety, at the address set forth below, of the Principal's default under the Agreement, and the
<br />P'rincipal's failure to cure the default in accordance with the terms of the Agreement.
<br />When the City has provided the notice set forth hereinabove, the Surety shall promptly and at the
<br />Surety's expense, take one of the following actions: (a) arrange for the Principal, with the
<br />consent of the City, to perform and complete the Agreement, (b) perform and complete the
<br />Agreement, through its agents or independent contractors, or (c) waive its right to perform and
<br />complete, or arrange for completion, and with reasonable promptness under the circumstances
<br />and, after investigation and consultation with City, determine in good faith its monetary
<br />obligation to City for the performance and completion of the Agreement and, as soon as
<br />OAK 44919-4834-1908 v20 Exhibit G-1
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