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BOND#107262732 <br /> EVERETT <br /> WASHINGTQN <br /> RETAINAGE BOND <br /> KNOW ALL MEN BY THESE PRESENTS,that Apply-A-Line,LLC , a corporation <br /> organized under the laws of the State of WA , and registered to do <br /> business in the State of Washington as a contractor, as Principal, and Travelers Casualty and Surety <br /> Company of America , a corporation organized under the laws of the State of <br /> CT and registered to transact business in the in the State of Washington <br /> as surety, as Surety, their heirs, executors, administrators, successors and assigns, are jointly <br /> and severally held and bound to the City of Everett, Washington, hereinafter called "City", and <br /> are similarly held and bound unto the beneficiaries of the trust fund created by RCW Chapter <br /> 60.28, in the sum of * and 46 /100's Dollars <br /> ($ 5,654.46 ), the payment of which, well and truly to be paid, we bind ourselves, our <br /> heirs, executors and successors,jointly and severally, formally by these presents. <br /> *Five Thousand Six Hundred Fifty Four <br /> THE CONDITIONS OF THE ABOVE OBLIGATION ARE THAT: <br /> WHEREAS, on 5'15/2020 ,the Principal executed a contract(the "Contract")with the <br /> City known as: <br /> Project Name: 2020 PAVEMENT MARKINGS <br /> Contract Number: 2020-038 <br /> And, <br /> WHEREAS, said Contract and RCW Chapter 60.28 require the City to withhold from monies <br /> earned by the Principal during the progress of the construction, hereinafter referred to as <br /> "earned retained funds"; and <br /> Five Thousand Six Hundred <br /> WHEREAS, the Principal requested that the City release Fifty Four and <br /> 46 /100's Dollars ($ 5,654.46 ) of the earned retained funds, as allowed <br /> under RCW Chapter. 60.28; <br /> NOW, THEREFORE, the condition of this obligation is such that the Surety is held and bound to <br /> the City to indemnify, defend and hold the City harmless from any and all loss, costs or damages <br /> that the City may sustain by reason of release of said earned retained funds to Principal, then <br /> this obligation to be null and void, otherwise to remain in full force and effect. <br /> PROVIDED, HOWEVER, it is expressly understood and agreed that: <br /> 1. Any suit or action under this bond must be instituted within the time period provided by <br /> applicable law. The bond shall be subject to all claims and liens provided for by law or <br />