Tastad Construction 8/18/2022 - Laserfiche WebLink

I•1/4 a . I City of Everett 00 6123 - 2 I I price by change order. Upon any such Contract price increase, the amount of this bond I automatically increases by an amount equal to 5% of Contract price increase. 3.Until written release of this obligation by the City, this bond may not be terminated or canceled by the Principal or Surety for any reason. Any extension of time for the I Principal's performance on the Contract, assignment of obligations under the Contract, I or Contract alteration, amendment or change order shalt not release the Surety from its obligation under this bond. 4.RCW Chapter 60.28 authorizes the City to substitute a retainage bond in lieu of earned I I retained funds and the Surety hereby waives any defense that this bond is void or otherwise not authorized by law. 5. Any claim or suit against the City to foreclose the liens provided for by RCW Chapter I 60.28 shall be effective against the Principal and Surety and any judgment under RCW Chapter 60.28 against the City shall be conclusive against the Principal and the Surety. 6.The laws of the State of Washington shall apply to the determination of the rights and I obligations of the parties hereunder. Venue for any dispute or claim hereunder shall be the state courts of Washington in Snohomish County, Washington. SIGNED AND SEALED THIS 26th of July , 20 22 I I Old Republic Surety Company Tastad Construction, Inc. I Surety Principal I By: I , I • r/ By: `.• I Typed/Printed Name: Typed/Printed Name: IKatharine J. Snider nyr7 C_ "� -7-4;''� I Title: Title: IAttorney-in-Fact P c1O .-..,. I I RETAINAGE BOND ACCEPTED BY: CITY OF EVERETT ___,_ ________) Cassie Franklin, Ma I I ATTEST: STANDARD DOCUMENT APPROVED AS TO FORM: IOFFICE OF THE CITY ATTORNEY I 00 612 RETAINAGE BOND I I