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<br />REV: 03-25-24 LF
<br />EXHIBIT “D”
<br /> FAITHFUL PERFORMANCE BOND
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: the City of Redwood City ("City"), San Mateo County,
<br />State of California, has entered into a License Agreement dated ______________ ____, 20____
<br />(the “Agreement”) with GTE Mobilnet of California Limited Partnership, a California limited partnership,
<br />dba Verizon Wireless, hereinafter designated as the "Principal", for constructing the following project:
<br />installation, operating and maintenance of a communications facility at 750 Marshall St., Redwood City,
<br />CA 94063, Assessor’s Parcel Number(s) 052-374-080 and 052-374-190 and
<br />
<br />WHEREAS, said Principal is required under the terms of the Agreement to furnish a bond for the faithful
<br />performance of any work to be performed pursuant to the Agreement;
<br />
<br />NOW, THEREFORE, we, the Principal, and ________________________, as surety, are held and firmly
<br />bound unto City, in the penal sum of One Hundred Fifty Eight and Seven Hundred and no/100 Dollars
<br />($158,700.00), lawful money of the United States, being one hundred percent (100%) of the amount set
<br />forth in the Agreement, for the payment of which sum well and truly to be made, we bind ourselves, our
<br />heirs, executors, administrators and successors, jointly and severally, firmly by these presents.
<br />
<br />THE CONDITION OF THIS OBLIGATION IS SUCH that if the above bounden Principal, his or its
<br />heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well
<br />and truly keep and faithfully perform the covenants, conditions, and agreements in the said Agreement and
<br />any alterations made as therein provided, on his or their part, to be kept and performed at the time and in
<br />the manner 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, employees
<br />and agents, as therein stipulated, then this obligation shall be null and void; otherwise it shall be and remain
<br />in full force and
<br />effect.
<br />
<br />The Surety hereby stipulates and agrees that no change, extension of time, alteration, or addition to the
<br />terms of the Agreement or to the work to be performed thereunder or the specifications accompanying the
<br />same shall in anywise affect its obligations on this bond; and it does hereby waive notice of any such
<br />change, extension of time, alteration or addition to the terms of the Agreement, or to the work, or to the
<br />specifications.
<br />
<br />As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall
<br />be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City
<br />in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered.
<br />ATTY/AGR.2024.027/Verizon Wirelsss (License Agreement) (Page 43 of 46)
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