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' ' � � <br /> Eahibit D <br /> FORM OF W�IRRANTY BOND <br /> (SUBDIVISION) <br /> WHEREAS, the City of Redwood City ("City"), County of San Mateo. State of <br /> Califomia, and , (hereinafter designated <br /> as "Principal") have entered into a Subdivision Improvement Agreement dated <br /> , 20_ ("Agreement"), the terms and conditions of which are <br /> incorporated herein by reference, whereby Principal agrees to install and complste <br /> certain designated public improvements for the following project: <br /> One Marina, Redwood City, CA 94063 <br /> WHEREAS, said Principal is required under the terms of sa€d Agreement to <br /> provide a warranty security. <br /> NOW� THEREFORE, we, the Pr�ncipal and of <br /> organized and existing under the taws of the State of <br /> , duly licensed to transact surety business �n the State of Cat�fomia and <br /> autFrorized to execute bonds and undertak�ng as sale �urety, as Surety� �re hereby h�id <br /> and firmty bot�nd unto the C'rty �n the amount of Dollars <br /> ($ ), for the payment of v�rhich sum wrell and trvly to be m�de, we bind ourselves, <br /> our heirs, successors, executors and admi�istrators, �o�ntly and sev�rally, firmfy by <br /> these presents.. <br /> THE CONDITION OF THIS OBLIGATION IS SUCH THAT� if prindpal (or its <br /> heirs, executors, administrators, successors, or assigns approved by the City) performs <br /> the covenants, conditions, and obligations of the warranty requirernents of Section <br /> 13.1(c) of the Agreement, including the obligation to indemnify, def�nd, and hald <br /> harmless the City, set forth in Section 17, then this abtigation shall beoome null and <br /> void; othervvise it shall be and remain in full#orce and effect. <br /> The Surety's obligation under this bond shatl hold good for a period of one (1)year from <br /> the date of the Cit�r's acceptance of said work. <br /> The Surety's obligation under this bond shall arise after the City has provided written <br /> notice to the Surety, at the address set fo�th below, of the Principai's default unde� the <br /> Agreement, and the PrincipaPs failure to cure the default in accordance with the terms <br /> of the Agreement. <br /> The Surety hereby agrees, for value received, that i#s obligations under this bond shall <br /> in no way be impaired or mod�ed by any modification to the Agreement by the City and <br /> the Principai, and the Surety h�reby waives notice of any such modification. <br /> REW:0�-1414 VR <br /> Pa�e li of 19 <br /> ATTI'/AGR.2014.034/One Marina Fin�l Phase-Improvemerrt Agreement <br />