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City of Everett <br />Port Gardner Storage Facility — Demolition Package <br />0061 13-1 <br />WO# U P-3525 <br />CTI0061 13-P P Y <br />PERFORMANCE BOND <br />Bond No.: 54247183 <br />The City of Everett has awarded to Lincoln Construction, Inc (Principal), a contract for the <br />construction of the project designated as Port Gardner Storage Facility — Demolition Package Project, <br />WO# UP-3525, in Everett, Washington (Contract), and said Principal is required to furnish a bond for <br />performance of all obligations under the Contract. <br />The Principal, and United Fire & Casualty Company (Surety), a corporation organized <br />u nder the laws of the State of Iowa and licensed to do business in the State of <br />Washington as surety and named in the current list of "Surety Companies Acceptable in Federal <br />Bonds" as published in the Federal Register by the Audit Staff Bureau of Accounts, U S Treasury <br />Dept are jointly and severally held and firmly bound to the City of Everett in the sum of <br />Three Million Forty One Thousand Eight Hundred Forty One & 87/100ths US Dollars ($ 3,041,841.87 ), which is <br />the Contract Sum, subject to the provisions herein. <br />This statutory performance bond shall become null and void, if and when the Principal, its heirs, <br />executors, administrators, successors, or assigns shall well and faithfully perform all of the Principal's <br />o bligations under the Contract and fulfill all the terms and conditions of all duly authorized <br />modifications, additions, and changes to said Contract that may hereafter be made, at the time and in <br />the manner therein specified, and if such performance obligations have not been fulfilled, this bond <br />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 <br />indirect Toss resulting from the failure of the Principal, its heirs, executors, administrators, successors, <br />o r assigns (or any of the employees, subcontractors, or lower tier subcontractors of the Principal) to <br />faithfully perform the Contract. <br />The Surety for value received agrees that no change, extension of time, alteration or addition to the <br />terms of the Contract, the specifications accompanying the Contract, or to the work to be performed <br />u nder the Contract shall in any way affect its obligation on this bond, and waives notice of any change, <br />extension of time, alteration or addition to the terms of the Contract or the work performed The Surety <br />agrees that modifications and changes to the terms and conditions of the Contract that increase the <br />total amount to be paid the Principal shall automatically increase the obligation of the Surety on this <br />bond and notice to Surety is not required for such increased obligation. <br />This bond may be executed in two (2) original counterparts, and shall be signed by the parties' duly <br />authorized officers. This bond will only be accepted if it is accompanied by a fully executed and original <br />power of attorney for the officer executing on behalf of the surety. The Surety agrees to be bound by <br />the laws of the state of Washington and subjected to the jurisdiction of the state of Washington. <br />00 61 13 - 1 PERFORMANCE BOND AND PAYMENT BOND <br />