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REV: 09-30-22 SK
<br />EXHIBIT “A”
<br />FAITHFUL PERFORMANCE BOND
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br />San Mateo County, State of California, has entered an Encroachment Agreement
<br />dated ______________ ____, 20____ (the “Agreement”) with XXXXXX, hereinafter
<br />designated as the "Principal", pursuant to which Principal may apply for one of more
<br />Encroachment Permits (“Associated Permits”) to perform certain work in the City’s right-of-way
<br />which work will be performed subject to the terms of the Agreement and any Associated Permit,
<br />and
<br />WHEREAS, said Principal is required under the terms of the Agreement to furnish a bond for the
<br />faithful performance of any work to be performed pursuant to the Agreement;
<br />NOW, THEREFORE, we, the Principal and [NAME OF SURETY BOND PROVIDER] as
<br />surety, are held and firmly bound unto City, San Mateo County, California, in the penal sum of
<br />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, 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 Agreement and any Associated Permits and any alterations made as therein provided, on
<br />his or their part, to be kept and performed at the time and in the manner therein specified, and in
<br />all respects according to their true intent and meaning, and shall indemnify and save harmless
<br />City, its Council, Commissioners, boards, committees, officers, employees and agents, as
<br />therein stipulated, then this obligation shall be null and void one year following the termination
<br />of the Agreement; otherwise it shall be and remain in full force 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.2022.364/Bandwidth IG, LLC (New Fiber Install) (Page 16 of 20)
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