F D Thomas Inc 9/9/2019 - Laserfiche WebLink

I . . ChvofEverett OOB123 ' 1 IEverpark Garage Repaws __ ____________________ ______ ____ 201 }-0}4 SECTION 00 6123 - NEW RETAINAGE BOND BOND No.02��«741 111 RETA|NAGEB{}ND I KNOW ALL MEN BY THESE PRESENTS,that F.D. Thomas, Inc. ,a corporation organized under the |avvsoYthe State ofKPregwn , and registered todobudnessinthe State of IVVaxhin8tonasacon1ractor'asPrincipa|. and Liwewnmwt=a/Insuranceawmm aa corporation organized under the laws of the State of Massachusetts and registered to transact business in I theOtatcofVVashingtnnasSu,ety'\hei/heio, pxccutno,adminis1rators' succousVruandassigns'arc jointly and severally held and bound to the City of Everett,Washington, hereinafter called "City", und are similarly held and bound unto the beneficiaries of the trust fund created by RCW Chapter 60.28, in I the sum of Sixty Nine Thousand Three Hundred* Dollars($69,338.01 )Q��y�e159&>o�Ient of any increases that may occur under the Contract(as defined belowl, the payment of which, well and truly to I be paid,we bind ourselves,our heirs, executors and successors,jointly and severally, formally by these presents. *Thit.ty Eight and 01/100nhs THE [OND|TlONSOFTHEAGOVEO8L/GAT{C}NARETHA� �� WHEREAS,on August 28, 2019 'the Principal executed acontract 2018-034 (the "Contract") with the City known as: PROJECT NAME: EVERPARK GARAGE— REPAIRS CONTRACT NUMBER: 2018-034 WHEREAS, said Contract and RCVVChapter 6U.28 require the City to withhold from monies earned by the Principal during the progress of the const,vction, hereinafter referred to as"earned retained funds"; WHEREAS,the Principal requested that the City accept a retainage bond and release earned retained funds to Principal,as allowed under RCW Chapter 60.28; and NOW,THEREFORE, the condition of this obligation is such that the Surety is held and bound to the City to indemnify,defend and hold the City harmless from any and all loss, costs or damages that the City may sustain by reason of release of said earned retained funds to Principal,then this obligation to be null and void,otherwise to remain in full force and effect. PROVIDED, HOWEVER, it is expressly understood and agreed that: 1. Any suit or action under this bond must be instituted within the time period, if any, provided 1 by applicable law. The bond shall be subject to all claims and liens provided for by law or Contract ill 808123 - 1 NEW RETAINAGE BOND � Scal IUN�o.iueu to Builders Exchange of WA, Inc. For usage Conditions Agreement see www.bxwa.com Always Verify