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N-2013-022. <br />Bond No.: 4388772 <br />Premium: Incl. In Pert. Bond <br />PAYMENT BOND <br />KNOW ALL MEN BY THESE PRESENTS: <br />WHEREAS, the City of Santa Ana, a municipal corporation of the State of California, and <br />The Marks at South Coast Metro, LLC (hereinafter designated as <br />"Principal") have entered into an Agreement whereby Principal agrees to install and complete certain <br />designated public improvements, which said Agreement, dated November 5 , 2012 is hereby <br />referred to and made a part hereof; and <br />WHEREAS, under the terms of said Agreement, Principal is required before entering upon the <br />performance of the work to file a good and sufficient payment bond with the City of Santa Ana to secure <br />the claims to which reference is made in Title 3 (commencing with Section 9000) of Part 6 of Division 4 <br />of the Civil Code of the State of California. <br />NOW, THEREFORE, said principal and the undersigned as corporate surety are held firmly <br />bound unto the City of Santa Ana and all contractors, subcontractors, laborers, materialmen and other <br />persons employed in the performance of the aforesaid agreement and referred to in the aforesaid Civil <br />Code in the sum of Two Hundred Fifty Seven Thousand Five Hundred & No/100Dollars ($257,500,00---------------------- <br />for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment <br />Insurance Act with respect to such work or labor, that said surety will pay the same in an amount not <br />exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in <br />addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable <br />attorney's fees, incurred by the City in successfully enforcing such obligation, to be awarded and fixed by <br />the court, and to be taxed as costs and to be included in the judgment therein rendered. <br />It is hereby expressly stipulated and agreed that this Bond shall inure to the benefit of any and all <br />persons, companies and corporations entitled to file claims under Title 3 (commencing with Section <br />9000) of Part 6 of Division 4 of the said Civil Code, so as to give a right of action to them and all their <br />assigns in any suit brought upon this Bond. <br />Should the condition of this Bond be fully performed, then this obligation shall become null and <br />1