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1 . <br /> City of Everett 00 61 23 - 1 <br /> Water Filter Plant Emergency Generator Replacement WO# 3587 <br /> SECTION 00 61 23 - RETAINAGE BOND <br /> BOND NO. 9406517 <br /> RETAINAGE BOND <br /> ' IMCO General <br /> KNOW ALL MEN BY THESE PRESENTS, that Construction, Inc. , a <br /> ' corporation organized under the laws of the State of Washington , and <br /> registered to do business in the State of Washington as a contractor, as Principal, and <br /> Fidelity and Deposit Company of Maryland, a corporation organized under the laws of the State of <br /> Illinois and registered to transact business in the State of <br /> Washington as Surety, their heirs, executors, administrators, successors and assigns, <br /> ' are jointly and severally held and bound to the City of Everett, Washington, hereinafter <br /> called "City", and are similarly held and bound unto the beneficiaries of the trust fund <br /> created by RCW Chapter 60.28, in the sum of <br /> Two Hundred Twenty Four Thousand Six Hundred* Dollars ($224,650.00 ,plus five j5%.1 <br /> percent of any increases that may occur under the Contract (as defined below),, the <br /> payment of which, well and truly to be paid, we bind ourselves, our heirs, executors and <br /> successors, jointly and severally, formally by these presents. <br /> *Fifty and 00/100 <br /> THE CONDITIONS OF THE ABOVE OBLIGATION ARE THAT: <br /> WHEREAS, on , the Principal executed a contract <br /> (the "Contract") with the City known as: <br /> PROJECT NAME: WATER FILTER PLANT EMERGENCY GENERATOR <br /> REPLACEMENT <br /> CONTRACT NUMBER: WO# 3587 <br /> ' WHEREAS, said Contract and RCW Chapter 60.28 require the City to withhold from <br /> monies earned by the Principal during the progress of the construction, hereinafter <br /> referred to as "earned retained funds"; <br /> 00 61 23 - 1 RETAINAGE BOND <br />