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I, <br /> I <br /> 1. Bidder and Surety, jointly and severally, hinri them.elvec their heirs, executors, administrators, <br /> successors and assigns to pay to the City upon default of Bidder the penal sum set forth on the face of this <br /> Bond. <br /> I2. Default of Bidder shall occur upon the failure of Bidder to deliver within the time required by the Bidding <br /> Documents the executed Agreement required by the Bidding Documents, any performance and payment <br /> Bidding Documents andContract Documents, d evidence of insurance required by <br /> bonds required by the ui uin� uCt;uii`�cirr S vv�,l,�r��cr��:�, and <br /> the Bidding Documents and Contract Documents. <br /> 3. This obligation shall be null and void if: <br /> I3.1. City accepts Bidder's bid and Bidder delivers within the time required by the Bidding <br /> Documents (or any extension thereof agreed to in writing by City) the executed Agreement <br /> required by the Bidding Documents, any performance and payment bonds required by the <br /> IBidding Documents and Contract Documents, and evidence of insurance required by the <br /> Bidding Documents and Contract Documents, or <br /> I3.2. All bids are rejected by City, or <br /> 4. Payment under this Bond will be due and payable upon default of Bidder and within thirty(30) calendar <br /> I days after receipt by Bidder and Surety of written notice of default from the City, which notice will be given <br /> with reasonable promptness, identifying this Bond and the Project and including a statement of the amount <br /> due. <br /> I5. Surety waives notice of any and aii defenses based on or arising out of any time extension to issue <br /> notice of award agreed to in writing by City and Bidder, provided that the time for issuing notice of award <br /> including extensions shall not in the aggregate exceed one hundred twenty (120) days from Bid Due Date <br /> I <br /> without Surety's written consent. <br /> 6. No suit or action shall be commenced under this Bond prior to thirty (30) calendar days after the notice <br /> I of default required in paragraph 4 above is received by Bidder and Surety. Any suit or action under this bond <br /> must be instituted within the time period provided by applicable law. <br /> 7. The laws of the State of Washington shall apply to the determination of the rights and obligations of <br /> Ithe parties hereunder. Venue for any dispute or claim hereunder shall be the state courts of Washington in <br /> Snohomish County, Washington. <br /> I 8. Notice required hereunder shall be in writing sent to Bidder and Surety at their respective addresses <br /> shown on the face of this Bond. Such notices may be sent by personal delivery, commercial courier or United <br /> States Registered or Certified Mail, return receipt requested, postage prepaid, and shall be deemed to be <br /> I <br /> effective upon receipt by the party concerned. <br /> 9. Surety shall cause to be attached to this Bond current and effective Power of Attorney evidencing <br /> authority of the officer, agent or representative to execute this Bond on behalf of Surety to execute and deliver <br /> Isuch Bond and bind the Surety thereby. <br /> I <br /> I 10. This Bond is intended to conform to all applicable statutory requirements. Any applicable requirement of <br /> any applicable statute that has been omitted from this Bond shall be deemed to be included herein as if set <br /> forth at length. If any provision of the Bond conflicts with any applicable provision of any applicable statue, <br /> I <br /> 2021 PAVEMENT MAINTENANCE OVERLAY PAGE 33 OF 35 DIVISION P <br /> WORK ORDER 3751 MARCH 29,2021 <br /> Provided to Builders Exchange of WA, Inc. For usage Conditions Agreement see www.bxwa.com - Always Verify Scal <br />