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Eahibit B
<br /> FORM OF FAITHFUL PERFORMANCE BOND
<br /> (Subdivision)
<br /> KNOW ALL MEN BY THESE PRESENT3: the City of Redwrood Ci�r("City"), County o#
<br /> San Mateo, State af Califa r�ia, and , (hereinafter
<br /> designated as "Principat") have entered �nto a Subdivislon Impro�ement Agreement dated
<br /> . 20 ("Agresment"),the term�and conditions of which are Incorporated h�rein
<br /> by reference, whereby P�ncipal agrees to N�stati and compiete certa� des�nated pubt'ic
<br /> improvements for the following project:
<br /> One Marina,Rcdwood City,CA 94063
<br /> WHEREAS, said P�incipal is re�uired �r the terms of said Agreement to fumish a
<br /> bond for the faithfui performanc�o#satd ABre�R#;
<br /> NOW� TH�REFORE, we, the Pr�cf�l, and ,
<br /> organized and exist�ng under the laws of � State ot �nd author�zed to execute
<br /> bonds and undertak�ng as sole surety i� the State ofi Catifomia, �s S�rety, are h�d and �rmly
<br /> bound unta the C#ty of Redwood City� County of San Mateo, State of Catifomia, in the penal
<br /> sum ot Dollars (3 } tawful
<br /> money of the United States, tor the paymerrt �whk:h sum wet� and truly to be made. we bind
<br /> ou�elves, our heirs, successors, executo� �nd �dm�istrators, jo�ntly �nd sev�eily. firmfy by
<br /> Ehes�pre�ents.
<br /> This band is executed and�d to corrtply v�ith the �ovisions of the act of� le�gisl�ture�the
<br /> State o� Cafifomia as des�nated in Govemment Code S�ctions 66499 and 66499.1 �nd �il
<br /> �mendments the�eto.
<br /> THE CONa1TION OF THIS OBLK3ATION IS SUCH that�the ebove �nden Pri�ctpal,
<br /> his or�ts heirs, executors, administrato�. su�sor�or assigns, sha�! in a�thing� stand to and
<br /> abide by, �nd v�eli and truiy keep and f��t#�u#y perfarm the covenants, cond�ti�ts a�d provisions
<br /> fn the said Agreement and any atferation th�reof made as therein provided, on his or th�ir part,
<br /> to be kep# and perfarmed at the �ime and � the manner therein spec�f�ed, and in afi respects
<br /> acxording to th�r true intent and me�ning, �nd shati indemn+fy and sawe hannless City, its
<br /> Council, Commissioners, boards, cammittees, officers, agents and emptoyees, as therein
<br /> stipulated, then this obkigation shafl become nuli and void; otherwise �t shatl be and remain in fuil
<br /> force and etfect.
<br /> As a part of the obligation secured hereby�nd i� add�tion to the face amount�pecified therefor,
<br /> there shall be incfuded there sha� be induded costs and reasonat�e exp�nses and fees,
<br /> fncluding reasonabie attomey's fees, incurred by CFty �n successfully enforcing such obllgation,
<br /> all to be taxed as costs and induded in any judgment rendered.
<br /> The Surety hereby stipu�ates and agrees that no change, extenslon of time, atteration or
<br /> addition to the terms of th� Agreem�nt cx to the work to be �rfamed thereunder or the
<br /> spec�cations accompanying the same� &� �nyw�se affect its ob#igations on this bond, and it
<br /> does hereby waive notice of any such d�t�ge, extensbn of time, afteration or addition to the
<br /> terms of the agreement or to the v+rork or to the spedfications.
<br /> IN WITNESS THEREOF. the aborre ba�nden parties have ex�cuted this instrument
<br /> under their seats this day of 20 the name and corporate seai
<br /> REV:03-1414 VR
<br /> Pa�e 14 of iF!
<br /> ATT'Y/AGR.2014.03�4/One Marina Fina�l Phas�-Irt�vement Aprsement
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