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• City of Everett Inductive Charging Infrastructure for Field Installation 00 61 13 - 3
<br /> PAYMENT BOND
<br /> Bond No. 54251367
<br /> The City of Everett has awarded to Valdez Construction, Inc. (Principal), a contract for the construction of
<br /> the project designated as C f Q-3 A f dOKI�i KX 106K 01)(XXXX;1QEX, in Everett, Washington
<br /> (Contract), and said Principal is required under the terms of that Contract to furnish a payment bond in accord
<br /> with Title 39.08 Revised Code of Washington (ROW) and (where applicable) 60.28 ROW.
<br /> **Inductive Charging Infrastructure for Field Installation
<br /> The Principal, and United Fire & Casualty Company (Surety), a corporation organized under the
<br /> laws of the State of Iowa and licensed to do business in the State of Washington as surety
<br /> and named in the current list of"Surety Companies Acceptable in Federal Bonds" as published in the Federal
<br /> Register by the Audit Staff Bureau of Accounts, U S. Treasury Dept., are jointly and severally held and firmly
<br /> bound to the City of Everett in the sum of Three Million Five Hundred Forty-Eight* US Dollars
<br /> ($3,548,359.98 ), which is the Contract Sum, subject to the provisions herein.
<br /> *Thousand Three Hundred Fifty-Nine and 98/100
<br /> This statutory payment bond shall become null and void, if and when the Principal, its heirs, executors,
<br /> administrators, successors, or assigns shall pay all persons in accordance with RCW Titles 39.08 and 39.12
<br /> including all workers, laborers, mechanics, subcontractors, and material suppliers, and all persons who shall
<br /> supply such contractor or subcontractor with provisions and supplies for the carrying on of such work, and all
<br /> taxes incurred on said Contract under Title 50 and 51 RCW and all taxes imposed on the Principal under Title 82
<br /> RCW; and if such payment obligations have not been fulfilled, this bond shall remain in full force and effect.
<br /> The Surety agrees to indemnify, defend, and protect the City of Everett against any claim of direct or indirect loss
<br /> resulting from the failure of the Principal, its heirs, executors, administrators, successors, or assigns, (or the
<br /> subcontractors or lower tier subcontractors of the Principal)to pay all laborers, mechanics, subcontractors, lower
<br /> tier subcontractors materialpersons, and all persons who shall supply such contractor or subcontractors with
<br /> provisions and supplies for the carrying on of such work.
<br /> The Surety for value received agrees that no change, extension of time, alteration or addition to the terms of the
<br /> Contract, the specifications accompanying the Contract, or to the work to be performed under the Contract shall in
<br /> any way affect its obligation on this bond, and waives notice of any change, extension of time, alteration or
<br /> addition to the terms of the Contract or the work performed. The Surety agrees that modifications and changes to
<br /> the terms and conditions of the Contract that increase the total amount to be paid the Principal shall automatically
<br /> increase the obligation of the Surety on this bond and notice to Surety is not required for such increased
<br /> obligation.
<br /> This bond may be executed in two (2) original counterparts, and shall be signed by the parties' duly authorized
<br /> officers. This bond will only be accepted if it is accompanied by a fully executed and original power of attorney for
<br /> the officer executing on behalf of the surety. The Surety agrees to be bound by the laws of the state of
<br /> Washington and subjected to the jurisdiction of the state of Washington.
<br /> Signed and sealed 07/18/2023.
<br /> PRINCIPAL Valdez Construction, Inc. SURETY United Fire & Casualty Company
<br /> Primed Name Printed Name: Christopher in
<br /> o^1`j MANS-0 NA
<br /> Title:- � � Title. Attorney-in-Fact
<br /> Name, address, and telephone number of local office/agent of Surety is:
<br /> Propel Insurance
<br /> PO Box 2940
<br /> Tacoma, WA 98401
<br /> (253) 759-2200
<br /> 00 61 13 - 3 PERFORMANCE BOND AND PAYMENT BOND
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