Laserfiche WebLink
I <br /> City of Everett 00 4313 -2 <br /> upon the conditions contained herein,unless the conditions for release contained herein are I <br /> satisfied or expressly waived in a writing signed by the City Attorney. <br /> It is expressly understood and agreed that: I <br /> A. Bidder and Surety,jointly and severally, bind themselves, their heirs, executors, <br /> administrators, successors and assigns to pay to the City upon default of Bidder the penal I <br /> sum set forth on the face of this Bond. <br /> B. Default of Bidder shall occur upon the failure of Bidder to deliver within the time <br /> required by the bidding documents the executed Contract required by the bidding <br /> documents, any performance and payment bonds required by the bidding documents and <br /> Contract Documents, and evidence of insurance required by the bidding documents and <br /> Contract Documents. I <br /> C. This obligation shall be null and void if: <br /> 1. The City accepts Bidder's bid and Bidder delivers within the time required I <br /> by the bidding documents (or any extension thereof agreed to in writing by the City) the <br /> executed Contract required by the bidding documents, any performance and payment <br /> bonds required by the bidding documents and Contract Documents, and evidence of <br /> insurance required by the bidding documents and Contract Documents, or I <br /> 2. All bids are rejected by the City. <br /> D. Payment under this Bond will be due and payable upon default of Bidder and <br /> within thirty (30) calendar days after receipt by Bidder and Surety of written notice of <br /> default from the City, which notice will be given with reasonable promptness, identifying <br /> this Bond and the Project and including a statement of the amount due. <br /> E. Surety waives notice of any and all defenses based on or arising out of any time <br /> extension to issue notice of award agreed to in writing by the City and Bidder, provided <br /> that the time for issuing notice of award including extensions shall not in the aggregate I <br /> exceed one hundred twenty(120)days from Bid Due Date without Surety's written consent. <br /> F. No suit or action shall be commenced under this Bond prior to thirty(30)calendar I <br /> days after the notice of default required in paragraph 4 above is received by Bidder and <br /> Surety. Any suit or action under this bond must be instituted within the time period <br /> provided by applicable law. I <br /> G. The laws of the State of Washington shall apply to the determination of the rights <br /> and obligations of the parties hereunder. Venue for any dispute or claim hereunder shall <br /> be the state courts of Washington in Snohomish County,Washington. I <br /> H. Notice required hereunder shall be in writing sent to Bidder and Surety at their <br /> respective addresses shown on the face of this Bond. Such notices may be sent by <br /> personal delivery, commercial courier or United States Registered or Certified Mail, return <br /> receipt requested, postage prepaid, and shall be deemed to be effective upon receipt by <br /> the party concerned. <br /> I <br /> 00 4313 -2 BID SECURITY FORM <br /> I <br /> Provided to Builders Exchange of WA, Inc. For usage Conditions Agreement see www.bxwa.com - Always Verify Scal I <br />