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REV: 06-29-21 MI
<br />EXHIBIT “A”
<br />FAITHFUL PERFORMANCE BOND
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood
<br />City("City"), San Mateo County, State of California, has entered an Encroachment
<br />Agreement dated ______________ ____, 20____ (the “Agreement”) with Intermountain
<br />Infrastructure Group, LLC, hereinafter designated as the "Principal", pursuant to which Principal
<br />may apply for one of more Encroachment Permits (“Associated Permits”) to perform certain work
<br />in the City’s right-of-way which work will be performed subject to the terms of the Agreement and
<br />any Associated Permit, and
<br />WHEREAS, said Principal is required under the terms of the Agreement to furnish a bond
<br />for the faithful performance of any work to be performed pursuant to the Agreement;
<br />NOW, THEREFORE, we, the Principal and [NAME OF SURETY BOND PROVIDER]
<br />as surety, are held and firmly bound unto City, San Mateo County, California, in the penal sum
<br />of Two Hundred Thousand Dollars ($200,000), lawful money of the United States, being one
<br />hundred percent (100%) of the amount required by Section 4.1(a) of the Agreement, for the
<br />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.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal,
<br />his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and
<br />abide by, and well and truly keep and faithfully perform the covenants, conditions, and
<br />agreements in the said Agreement and any Associated Permits and any alterations made as
<br />therein provided, on his or their part, to be kept and performed at the time and in the manner
<br />therein specified, and in all respects according to their true intent and meaning, and shall
<br />indemnify and save harmless City, its Council, Commissioners, boards, committees, officers,
<br />employees and agents, as therein stipulated, then this obligation shall be null and void one
<br />year following the termination of the Agreement; otherwise it shall be and remain in full force
<br />and virtue.
<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 Agreement, Associated Permits, or to the work to be performed
<br />thereunder or the specifications accompanying the same and the effect of any such change,
<br />extension of time, alteration, or addition on its obligations on this bond; and it does hereby waive
<br />notice of any such change, extension of time, alteration or addition to the terms of the Agreement,
<br />or to Associated Permits, or to the work, or to the specifications.
<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.
<br />ATTY/AGR.2021.160/INTERMOUNTAIN INFRASTRUCTURE GROUP (Fiber Agreement) (Page 15 of 18)
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