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Eabibit c <br /> FORM OF PAYMENT BOND <br /> (SUBDIYISION) <br /> KNOW AL� MEN BY THESE PRESENTS: �he City of Redwood City("City"), County o# <br /> San Mateo, State of C�t�fomia, and , (hereinafter <br /> designated as "Principai�j have entered i�to a Subdiv�sion Improvement AgreemeM dated <br /> , 20 ("�reement"), the terms and conc�tions o�v�rtiich are tnc�rporat�d herefn <br /> by reference, wfiereby Princtpat agrees to fnstail and complete certain designated pc�b�c <br /> improvements for tt�folbwring project: <br /> One Marina� Redwood City.CA g4063 <br /> WHEREAS, under the terms of the Agreement, the Prir�cipa! is required before entering <br /> upan the perfom�ance of the work, to frle a good and sufifident payment bond with the tfie Cityy to <br /> secure the daims to which re�erer�e is made �n Ti�le 3 (c.o�nmencing r�vith Section 90Q0) of Part <br /> 6 of Division 4 of the Civ'r�Code o#the State af Ca�ifania. <br /> NOW, THEREFORE� we, the P�I and <br /> . Exgar�zed arxi �xistMg txtder the lews of the State af , and du�y <br /> licensed to tr�ns sur�t�t bu�ness i�the State o#Californ�a, �nd�uthaized to execute bonds�nd <br /> undertaking as sole su�rty, as Surety, are hgld firm�y �nd uMo the C�ty and a� corttractors, <br /> subcontractors, �aborers. mate�tmen, and ott��r per.�ons employed �n the p�rform��e of the <br /> agreement and re�erred to � TiUe 3 (c�mrr�ncirr►9 wifh Section 9�0} af Part 6 of D�risi� 4 af <br /> the Civii Code of the State of Ca�fomia � the sum of Do�lars <br /> ($_), for mate�t�fum�hed w fsbor the�eon of any kind, or for a�nts due under the <br /> Unemptoyment insurance Act with respect to this wro�c or labor, that the surety wtN pay the <br /> same tn an �mourat nat exceeding the amount hereinabove �et torth, �nd aiso in case suit is <br /> brought upon this bond, ��I pay, �n addi�on to the face amount thereof, costs and reasonabte <br /> expenses and fees, �nduding reasonable attorney's tees, �cu�red by Cfty in succ�ssfu�yy <br /> enforcing this ob6igation, to be award�d rand fixed by the oourt, �ntl to be taxed as costs and to <br /> be induded in the�udgment therein r�en�red. <br /> It is hereby expr�ssiy stipulated and agreed that this bond shatl inure to the benefrt of any and <br /> aFi persons, companies, and c�porat�ns entitEed #o file daim� under T�le 3 (�mmendng with <br /> Section 9000)of Part 6 of Division 4 of the Civi! Code of the State o#Ca�if�nla, so as to give a <br /> right of action to them or their ass�nees�n suit brought upon this bond. <br /> Shouid the conddion af this bond be fully performed, then fh�obligation shali become null and <br /> vaid, otherwise tt shall be and remain in fuN�orce and effec�t. <br /> REV:03-14-14 VR <br /> Page 16 of 19 <br /> ATTY/AGR.2014.034/One Marina Final Phase- Impravement A�reement <br />