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PERFORMANCE BOND
<br /> Bond No.: EACX4025716
<br /> The City of Everett has awarded to Specialized Pavement Marking,LLC (Principal), a contract for the construction of the project
<br /> designated as 2022 Citywide Pavement Markings,SWR No. 2022-037, in Everett,Washington (Contract),and said Principal is
<br /> required to furnish a bond for performance of all obligations under the Contract.
<br /> The Principal,and Endurance Assurance Corporation (Surety),a corporation organized under the laws of the State of
<br /> Delaware and licensed to do business in the State of Washington as surety and named in the current list of"Surety
<br /> Companies Acceptable in Federal Bonds"as published in the Federal Register by the Audit Staff Bureau of Accounts, U.S.Treasury
<br /> Dept., are jointly and severally held and firmly bound to the City of Everett in the sum of
<br /> Three Hundred Sixty One Thousand Eight Hundred Fifty one and 15/100 US Dollars($ 361,851.15 ), which is the Contract Price,subject to
<br /> the provisions herein.
<br /> This statutory performance bond shall become null and void if and when the Principal, its heirs, executors, administrators,
<br /> successors,or assigns shall well and faithfully perform all of the Principal's obligations under the Contract and fulfill all the terms and
<br /> conditions of all duly authorized modifications,additions,and changes to said Contract that may hereafter be made,at the time and
<br /> in the manner therein specified; and if such performance obligations have not been fulfilled,this bond shall remain in full force and
<br /> effect.
<br /> The Surety agrees to indemnify,defend, and protect the City of Everett against any claim of direct or indirect loss resulting from the
<br /> failure of the Principal,its heirs,executors, administrators, successors, or assigns(or any of the employees,subcontractors,or lower-
<br /> tier subcontractors of the Principal)to faithfully perform the Contract.
<br /> The Surety for value received agrees that no change,extension of time, alteration, or addition to the terms of the Contract,the
<br /> specifications accompanying the Contract,or to the work to be performed under the Contract shall in any way affect its obligation
<br /> on this bond,and waives notice of any change,extension of time,alteration or addition to the terms of the Contract or the work
<br /> performed.The Surety agrees that modifications and changes to the terms and conditions of the Contract that increase the total
<br /> amount to be paid the Principal shall automatically increase the obligation of the Surety on this bond, and notice to Surety is not
<br /> required for such increased obligation.
<br /> This bond may be executed in two(2)original counterparts and shall be signed by the parties'duly authorized officers.This bond will
<br /> only be accepted if it is accompanied by a fully executed and original power of attorney for the officer executing on behalf of the
<br /> surety.The Surety agrees to be bound by the laws of the state of Washington and subjected to the jurisdiction of the state of
<br /> Washington.Signed and sealed this 22nd day of June 2022.
<br /> Specialized Pave'j -rkin• LLC Endurance Assurance Corporation
<br /> PRINCIPA�'all SURETY
<br /> By: s WIMP' By: a*LA
<br /> Printed Ile: Tyler Pierce Printed Name: Nicholas Patetta
<br /> Title: Division Manager Title: Attorney-In-Fact
<br /> Name,address,and telephone number of local office/agent of Surety is:
<br /> Lockton Companies, 3657 Briarpark Dr., Ste. 700, Houston, TX 77042-(713)458-5200
<br /> PERFORMANCE BOND APPROVED BY STANDARD DOCUMENT
<br /> CITY OF EVERETT,W' '. ON ATTEST: APPROVED AS TO FORM:
<br /> OFFICE OF THE CITY ATTORNEY
<br /> By: (2.24.22)
<br /> Cassie Fiankliq, Mayor Office Clerk
<br /> Date: -3l 2? Date:
<br />
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