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PAYMENT BOND
<br /> Bond No. WAC56043
<br /> The City of Everett has awarded to Redtail, LLC (Principal), a contract for the construction of
<br /> the project designated as Shore Avenue Force Main, Project No. UP3734, in Everett, Washington (Contract),
<br /> and said Principal is required under the terms of that Contract to furnish a payment bond in accord with Title
<br /> 39.08 Revised Code of Washington (RCW) and (where applicable) 60.28 RCW.
<br /> The Principal, and Merchants Bonding Company(MUTUAL) (Surety), a corporation organized under the
<br /> laws of the State of Iowa and licensed to do business in the State of Washington as surety
<br /> and named in the current list of"Surety Companies Acceptable in Federal Bonds" as published in the Federal
<br /> Register by the Audit Staff Bureau of Accounts, U.S. Treasury Dept., are jointly and severally held and firmly
<br /> bound to the City of Everett in the sum of Eight Hundred Fifty-Five Thousand,Thirty-Two&99/100ths US Dollars
<br /> ($ 855,032.99 )Total Contract Amount, subject to the provisions herein.
<br /> This statutory payment bond shall become null and void, if and when the Principal, its heirs, executors,
<br /> administrators, successors, or assigns shall pay all persons in accordance with RCW Titles 39.08 and 39.12
<br /> including all workers, laborers, mechanics, subcontractors, and material suppliers, and all persons who shall
<br /> supply such contractor or subcontractor with provisions and supplies for the carrying on of such work, and shall
<br /> pay the taxes, increases, and penalties incurred on the project; and if such payment obligations have not been
<br /> fulfilled, this bond shall remain in full force and effect.
<br /> The Surety for value received agrees that no change, extension of time, alteration or addition to the terms of the
<br /> Contract, the specifications accompanying the Contract, or to the work to be performed under the Contract shall in
<br /> any way affect its obligation on this bond, and waives notice of any change, extension of time, alteration or
<br /> addition to the terms of the Contract or the work performed. The Surety agrees that modifications and changes to
<br /> the terms and conditions of the Contract that increase the total amount to be paid the Principal shall automatically
<br /> increase the obligation of the Surety on this bond and notice to Surety is not required for such increased
<br /> obligation.
<br /> This bond may be executed in two (2) original counterparts, and shall be signed by the parties' duly authorized
<br /> officers. This bond will only be accepted if it is accompanied by a fully executed and original power of attorney for
<br /> the officer executing on behalf of the surety.
<br /> PRINCIPAL Redtail, SURETY Merchants Bonding Company(MUTUAL)
<br /> •
<br /> Printed Name: :(�� - �1< <� �dn` Printed Name: Nicholas Fredrickson -_
<br /> Title: .r✓>1 of/ Title: Attorney-in-Fact
<br /> Name, address, and telephone number of local office/agent of Surety is: •
<br /> Parker, Smith&Feek
<br /> 2233 112th Avenue NE, Bellevue,WA 98004
<br /> (425) 709-3600
<br /> PAYMENT BOND APPROVED BY
<br /> CITY OF EV 4; , WASHINGTON ATTEST: f i V)S M t)1 UMW:
<br /> DavidC.APPROVED S T FORM
<br /> ,� C. Hall,City Attorney
<br /> C sie .rankli , ayor r i `�Clerk David C. Hall, City Attorney
<br /> Date: 2 Z uate: `J- / 7/7_ Date:
<br /> Shore Avenue Force Main Division C-CONTRACT February 24, 2022
<br /> Work Order#UP3734 SP—29
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