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• BOND NO. 783171 P '. PREMIUM: Included in Pertormance Bond PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: That we, ToNY PAINTING as Principal, and DEVELOPERS SURETY AND INDEMNITY COMPANY organized and existing under the laws of the State of Cal'rfomia , and authorized to execute bonds and undertaking as sole surety, as Surety, are held and firmly bound unto any and all persons named in Califomia Civil Code Sedion 3181 whose daim has not been paid by the Contrador, com or cor in the aggregate total of Fifty Seven Thousand Seven Hundred F'�fty and OOH60— �0118fS ($ 57,750.00 ) (being 100% of the Contract amount) for the payment whereof, weil and truly to be made, said Principal and Surety bond themseives, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH that, whereas the above with the City of Redwood City ("City") to do the following wo�lc, to-wit: 2011 WATER TANK EXTERIOR FINISH COATlNG PROJECT 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 Califomia, or amounts due under the Unemployment Insurance Code with respect to work or labor performed under the Contract, or for any amounts required to � deducted, withheld, and paid over to the Employment Development Department ftom the wages of employees of the Contractor and his subcontractor pursuant to Section 13020 of the Unempioyment insurance Code of the State of California, with resped to such woric end labor, the surety will pay for the same, in the amount not exceeding the sum specified in this bond, and also, in case suit is brougM upon this bond, a reasonable attomey's fee, to be fixed by the Court. This bond shall inure to the benefit of any person named in SecGon 3181 of the Civil Code of the State of Cal'rfomia so as to give a right of action to them or their assignees in suft brougM upon this bond. This bond is executed and filed to comply with the provisions of the act of the Legislature of the State of Cai'rfomia as designated in Civii Code Sections 3247-3252, inciusive, and all amendmeMs thereto. And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of Cal'rfomia Civil Code Section 2819 regarding consent to change, extension of time afteralion, or addition to the terms of the Contract, or to the work to be performed thereunder, or the Speafications accompanying the same, shail in any way affect its obligations on this bond; and it does hereby waive notice of any such change, extension of time, alteration, or addition to the terms of the Contract, or to the work, or to the Specifications.