Agmt10 First Serve Productions, Inc.

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Bond number: 781861P Premium included in Performance Bond. PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS; That we. First Serve Productions, Inc. as Principal, and, Indemnity Company of California and existing under the laws of the organized State of California , and authorized to execute bonds and undertaking as sole surety I as Surety. are held and firmly bound unto any and all persons named in California Civil Code Section 3181 'whose claim has not been paid by the Contractor, company or corporation in the aggregate total of . Thirty Nine Thousand Two Hundred Sixty******** DoHars ($ 39,260.00******* ) {being 100%' of the Contract amount} for the payment whereof, well and truly to be made, said Principal and Surety bond themselves, their heirs, administrators, successors, and assigns, jointly and severally! firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGA lION IS SUCH that, whereas the above with the City of Redwood City ("eily") to do the following work, to-wit RESURFACING A. T SHOREBIRD. DOLPHIN: MARUNJ' AND MEZES TENNIS COURTS NOW, THEREFORE, if the above-bounden Principal or his subContractors fail to pay any of the persons named in Section 3181 of the Civil Code of the State of California. .or amounts due under the Unemployment insurance Code with respect to wort< or labor performed under the Contract, or for any amounts required to be deducted, withheld. and paid over to the Employment Development Department from the wages of employees of the Contractor and his subcontractor pursuant to Section 13020 of the Unemployment Insurance Code of the State of Califomia~ with respect to such work and jabor~ the surety will pay for the samej in the amount not exceeding the sum specified in this bond, and also, in case suit is brought upon this bond, a reasonable attorneyis fee, to be fixed by the Court. This bond shaH inure to 1he benefit of any person named in Section 3181 of the Civil Code of the State of California $0 as to give a right of action to them or their assignees in suit brought upon this bond. This bond is executed and filed to compfy with the provisions of the act of the Legislature of the State of California.as designated in Civil Code Sections 3247.3252, inclusive. and all amendments thereto. And the said Surety, for value received, hereby stipuJates and agrees to waive the provisions of California Civil Code Section 2819 regarding consent to change, extension or time alteration. or addition to the terms of the Contract. or to the worl( to be performed thereunder, or the Specifications accompanying the same, shall in any way affect its Obligations. on this bond; and it does hereby waive no1ice of any such change. extension of tirnel alteration, or addition to the terms of the Contract. or to the work, or to the Specifications.