RRJ Company LLC 4/7/2021 - Laserfiche WebLink

I Section 00 61 14 REV.—Addendum No.2 Landscape Maintenance Bond PART 1-GENERAL 1.01 Landscape Maintenance Bond A. The Contractor shall deliver to the Owner a fully executed landscape maintenance bond in the form provided below prior to acceptance by the Owner of the work. MAINTENANCE BOND LANDSCAPING AND IRRIGATION EVERETT Bond No: Project Name: I WHEREAS, In order to provide security for the obligation of the Principal to maintain landscape and temporary irrigation for a period of one(1)year after project completion of the improvements by the Contractor provided in conjunction with said improvements, this bond has been secured and is hereby submitted to the City;and WHEREAS, in order to provide security for the obligation of the Principal to repair or replace any landscape, irrigation or associated improvement(s) which prove(s) defective within one (1) year after acceptance of the improvement(s) by the City and to enable the City to release the performance bond ■ provided in connection with said improvements, this bond has been secured and is hereby submitted to �I the City; and NOW, THEREFORE, the undersigned Principal and , a corporation authorized to transact surety business in the State of Washington, hereinafter referred to as "the Surety", agree and bind themselves, their heirs, executors, administrators and assigns, unto the City in the sum of ($15,000), lawful money of the United States, according to 1 the following terms and conditions: 1. The Principal and Surety agree that in the event any of the landscape, irrigation or associated improvements installed by the Principal or Surety pursuant to the above referenced project fail to effectively maintain for a period of one (1)year from the date of acceptance by the City, then the Surety shall, within twenty(20) days after demand of the City make a written commitment to the City that it will either (a) remedy the default itself with reasonable diligence pursuant to a time schedule acceptable to the City, or (b)tender to the City within an additional ten (10) days the amount necessary, as determined by the City, for the City to remedy the default, up to the total bond amount. If the Surety elects option (b), then upon completion of the remedy, the City shall notify the Surety of the actual cost of the remedy. The City shall return, without interest, any overpayment made by the Surety, and the Surety shall pay to the City any actual costs which exceeded the City's estimate, limited to the total bond amount. 2. If the Principal fails to provide maintenance acceptable to the City within the specified time period specified, the City's employees, contractors and agents are hereby authorized to enter onto Emma Yule Park 1 of 2 I I