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Exhibit "C" <br />FORM OF PAYMENT BOND <br />(SUBDIVISION) <br />WHEREAS: the City of Redwood City ("City"), County of San Mateo, State of California, <br />and (hereinafter designated as <br />"Principal") have entered into a Subdivision Improvement Agreement dated <br />, 20_ ("Agreement"), the terms and conditions of which are incorporated <br />herein by reference, whereby Principal agrees to install and complete certain designated <br />public improvements for the following project: <br />Broadway Plaza — Broadway Block <br />WHEREAS, under the terms of the Agreement, the Principal is required before entering <br />upon the performance of the work, to file a good and sufficient payment bond with the the <br />City to secure the claims to which reference is made in Title 3 (commencing with Section <br />9000) of Part 6 of Division 4 of the Civil Code of the State of California. <br />NOW, THEREFORE, we, the Principal and <br />organized and existing under the laws of the State of <br />and duly licensed to engage in surety business in the State of California, and authorized <br />to execute bonds and undertaking as sole surety ("Surety") are held firmly bound unto the <br />City and all contractors, subcontractors, laborers, materialmen, and other persons <br />employed in the performance of the agreement and referred to in Title 3 (commencing <br />with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California in the <br />sum of Dollars ($ ), for materials furnished or <br />labor thereon of any kind, or for amounts due under the Unemployment Insurance Act <br />with respect to this work or labor, that the surety will pay the same in an amount not <br />exceeding the amount hereinabove set forth, and also in case suit is brought upon this <br />bond, will pay, in addition to the face amount thereof, costs and reasonable expenses <br />and fees, including reasonable attorney's fees, incurred by City in successfully enforcing <br />this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be <br />included in the judgment therein rendered. <br />It is hereby expressly stipulated and agreed that this bond will inure to the benefit of any <br />and all persons, companies, and corporations entitled to file claims under Title 3 <br />(commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of <br />REV: 04-12-2023 SK <br />ATTY/AGR.2023.70/SI XX, LLC (Broadway Plaza SIA) (Page 25 of 32) <br />