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BID GUARANTY <br /> Bidder herewith guarantees its bid by depositing one of the following with its bid/proposal in an amount of five percent <br /> (5%)or more of the bidder's total bid/proposal: <br /> ❑ Certified check <br /> O Cashier's check <br /> El Bid Bond <br /> Signature <br /> BID BOND <br /> Bond No. N/A <br /> Project 2023 Pavement Maintenance Overlay <br /> w.o.# 3789 <br /> KNOW ALL MEN BY THESE PRESENTS, <br /> that Reece Construction Company [Contractor], a corporation organized under the <br /> laws of the State of Washington , and registered to do business in the State of Washington as a <br /> contractor,as Principal, and Fidelity and Deposit Company of Maryland [Surety],a <br /> corporation organized under the laws of the State of Il►inois and registered to transact business in <br /> the State of Washington,as Surety,their heirs,executors, administrators,successors and assigns,are jointly <br /> and severally held and bound to the City of Everett,Washington, hereinafter called "City", and are similarly <br /> held and bound unto the City in the sum of Five Percent(5%)of Total Amount Bid and /100's Dollars <br /> ($ 5% --- ),the payment of which,well and truly to be paid,we bind ourselves,our heirs, executors <br /> and successors,jointly and severally, formally by these presents. <br /> NOW, THEREFORE, the condition of this obligation is such that the Surety is held and bound to the City to <br /> pay and forfeit to the City the amount of this bond as provided herein, upon the conditions contained <br /> herein, unless the conditions for release contained herein are satisfied or expressly waived in a writing <br /> signed by the City Attorney. <br /> It is expressly understood and agreed that: <br /> 1. Bidder and Surety,jointly and severally, bind themselves,their heirs,executors, administrators,successors and <br /> assigns to pay to the City upon default of Bidder the penal sum set forth on the face of this Bond. <br /> 2. Default of Bidder shall occur upon the failure of Bidder to deliver within the time required by the Bidding <br /> Documents the executed Agreement required by the Bidding Documents, any performance and payment bonds <br /> required by the Bidding Documents and Contract Documents, and evidence of insurance required by the Bidding <br /> Documents and Contract Documents. <br /> 3. This obligation shall be null and void if: <br /> 2023 PAVEMENT MAINTENANCE OVERLAY <br /> WO#3789 February 14,2023 92 <br /> Provided to Builders Exchange of WA, Inc. For usage Conditions Agreement see www.bxwa.com - Always Verify Seal <br />