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3.1. City accepts Bidder's bid and Bidder delivers within the time required by the Bidding Documents (or <br /> any extension thereof agreed to in writing by City) the executed Agreement required by the Bidding <br /> Documents, any performance and payment bonds required by the Bidding Documents and Contract <br /> Documents,and evidence of insurance required by the Bidding Documents and Contract Documents, <br /> or <br /> 3.2. All bids are rejected by City, or <br /> 4. Payment under this Bond will be due and payable upon default of Bidder and within thirty (30) <br /> calendar days after receipt by Bidder and Surety of written notice of default from the City,which notice <br /> will be given with reasonable promptness, identifying this Bond and the Project and including a <br /> statement of the amount due. <br /> 5. Surety waives notice of any and all defenses based on or arising out of any time extension to <br /> issue notice of award agreed to in writing by City and Bidder, provided that the time for issuing notice <br /> of award including extensions shall not in the aggregate exceed one hundred twenty (120) days from <br /> Bid Due Date without Surety's written consent. <br /> b. No suit or action shall be commenced under this Bond prior to thirty(30)calendar days after the <br /> notice of default required in paragraph 4 above is received by Bidder and Surety. Any suit or action <br /> under this bond must be instituted within the time period provided by applicable law. <br /> 7. The laws of the State of Washington shall apply to the determination of the rights and <br /> obligations of the parties hereunder. Venue for any dispute or claim hereunder shall be the state courts <br /> of Washington in Snohomish County, Washington. <br /> 8. Notice required hereunder shall be in writing sent to Bidder and Surety at their respective <br /> addresses shown on the face of this Bond. Such notices may be sent by personal delivery, commercial <br /> courier or United States Registered or Certified Mail, return receipt requested, postage prepaid, and <br /> shall be deemed to be effective upon receipt by the party concerned. <br /> 9. Surety shall cause to be attached to this Bond current and effective Power of Attorney evidencing <br /> authority of the officer,agent or representative to execute this Bond on behalf of Surety to execute and <br /> deliver such Bond and bind the Surety thereby. <br /> 10. This Bond is intended to conform to all applicable statutory requirements. Any applicable <br /> requirement of any applicable statute that has been omitted from this Bond shall be deemed to be <br /> included herein as if set forth at length. If any provision of the Bond conflicts with any applicable <br /> provision of any applicable statue,then the provision of said statue shall govern and the remainder of <br /> this Bond that is not in conflict therewith shall continue in full force and effect. <br /> 11. The term"bid" as used herein includes a bid,offer or proposal as applicable. <br /> 2023 PAVEMENT MAINTENANCE OVERLAY <br /> WO#3789 February 14,2023 93 <br /> _rovided to Builders Exchange of WA, Inc. For usage Conditions Agreement see www.bxwa.com - Always Verify Scal <br />