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PUBLIC WORKS PAYMENT BOND
<br />to City of Everett, WA
<br />Bond No. _________
<br />
<br />The City of Everett, Washington, has awarded to _______________________________________ (Principal), a Contract
<br />for the construction of the project designated as CITYWIDE BICYCLE WAYFINDING, Project No. PW3786, in Everett,
<br />Washington (Contract), and said Principal is required under the terms of that Contract to furnish a payment bond in
<br />accord with Title 39.08 Revised Code of Washington (RCW) and (where applicable) 60.28 RCW.
<br />
<br />The Principal and ______________________________________ (Surety), a corporation organized under the laws of the
<br />State of ______________________ and licensed to do business in the State of Washington as surety and named in the
<br />current list of “Surety Companies Acceptable in Federal Bonds” as published in the Federal Register by the Audit Staff
<br />Bureau of Accounts, U.S. Treasury Dept., are jointly and severally held and firmly bound to
<br />_________________________________, in the sum of
<br />_____________________________________________________________________________ US Dollars
<br />($_______________________________) Total Contract Amount, subject to the provisions herein.
<br />
<br />This statutory payment bond shall become null and void, if and when the Principal, its heirs, executors, administrators,
<br />successors, or assigns shall pay all persons in accordance with RCW Titles 60.28, 39.08, and 39.12 including all workers,
<br />laborers, mechanics, subcontractors, lower tier subcontractors, and material suppliers, and all persons who shall supply
<br />such contractor or subcontractor with provisions and supplies for the carrying on of such work, and all taxes incurred
<br />on said Contract under Title 50 and 51 RCW and all taxes imposed on the Principal under Title 82 RCW; and if such
<br />payment obligations have not been fulfilled, this bond shall remain in full force and effect.
<br />
<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 tier
<br />subcontractors material persons, and all persons who shall supply such contractor or subcontractors with provisions
<br />and supplies for the carrying on of such work.
<br />
<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 any
<br />way affect its obligation on this bond, except as provided herein, and waives notice of any change, extension of time,
<br />alteration or addition to the terms of the Contract or the work performed. The Surety agrees that modifications and
<br />changes to the terms and conditions of the Contract that increase the total amount to be paid the Principal shall
<br />automatically increase the obligation of the Surety on this bond and notice to Surety is not required for such increased
<br />obligation.
<br />
<br />This bond may be executed in two (2) original counterparts, and shall be signed by the parties’ duly authorized officers.
<br />This bond will only be accepted if it is accompanied by a fully executed and original power of attorney for the officer
<br />executing on behalf of the surety. The Surety agrees to be bound by the laws of the state of Washington and subjected
<br />to the jurisdiction of the state of Washington.
<br />[signatures on following page]
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