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INCREASE PENALTY RIDER <br />BOND AMOUNT $7,022,000.00 BOND NO. 019073107 <br />To be attached and form a part of Bond No. 019073107 dated the 19th Day of October, <br />2021, executed by Liberty Mutual Insurance Compan as surety, on behalf of 1548 Mahle <br />LLC, a Delaware limited liability company as current principal of record, and in favor of <br />City of Redwood City, as Obligee for 1548 Maple Street, Redwood City, CA 94063 — Public <br />Improvements, and in the amount of Seven Million Twenty Two Thousand Dollars and <br />00/100 ($7,022,000.00). <br />In consideration of the agreed premium charged for this bond, it is understood and <br />agreed that Liberty Mutual Insurance Company hereby consents that effective from <br />the 19th Day of October, 2025, said bond for the faithful performance of the <br />Agreement, as amended by the First Amendment to Subdivision Improvement <br />Agreement dated March 6 2023 recorded in the Official Records as Document No. <br />2023-011339 and Second Amendment to Subdivision Improvement Agreement dated <br />January 21, 2026, recorded in the Official Records as Document No. <br />shall be amended as follows:" <br />THE BOND PENALTY SHALL BE INCREASED: <br />FROM: Seven Million Twentv-Two Thousand Dollars and 00/100 (57.022,000.00 <br />TO: Ei ht MiIIion Four Hundred Fort -Nine Thousand Five Hundred Sixty -Seven Dollars and <br />00 100 ($8,449,567.00 <br />The INCREASE of said bond penalty shall be effective as of the 19th Day of October, <br />2025, and does hereby agree that the continuity of protection under said bond subject <br />to changes in penalty shall not be impaired hereby, provided that the aggregate <br />liability of the above mentioned bond shall not exceed the amount of liability assumed <br />by it at the time the act and/or acts of default were committed and in no event shall <br />such liability be cumulative. <br />Signed, sealed and dated this 11th Day of November, 2025 <br />PRINCIPAL <br />BY <br />SURETY <br />BY <br />IN -FACT <br />THE ABOVE BOND IS HEREBY AGREED TO AND ACCEPTED BY: <br />OBLIGEE <br />BY <br />TITLE <br />4925-7198-0398 v8 Exh B <br />ATTY/AGR/2025-AMEND. NO. 2 - 1548 MAPLE SUBDIVISION IMPROVEMENT AGREEMENT— EXHIBIT B <br />REV: 01-22-26 VR Page 2 of 2 <br />