CITY COUNCIL REGULAR AGENDA PACKET

LABOR AND MATERIAL BOND WHEREAS, the City of Pleasanton, State of California, and Park Planet (hereinafter designated as "principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which agreement, dated June 17, 2025, and identified as the Design, Supply and Installation of Replacement Play Apparatus for Del Prado and Moller Parks, CIP Project No. 25745, is hereby referred to and made a part hereof, and WHEREAS, under the terms of said agreement, principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Pleasanton to secure the claims to which reference is made in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code of the State of California. NOW, THEREFORE, said principal and the undersigned, as corporate surety, are held firmly bound unto the City of Pleasanton and all contractors, subcontractors, laborers, material suppliers, and other persons employed in the performance of the aforesaid agreement and referred to in the aforesaid Civil Code in the sum of ______________________________dollars ($___________), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that said surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall insure to the benefit of any and all persons, companies and corporations entitled to file claims under Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of said agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration or addition. IN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety on the date set forth above. Principal Surety By: By: ______________ (Signature of Principal and Surety must be notarized) Page 206 of 376