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WHEREAS, the City is requiring the Principal to provide a bond warranting the <br /> performance, and guaranteeing the workmanship and materials used in the construction of <br /> said improvements. <br /> NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the Principal and <br /> Surety warrant the performance and guarantee workmanship and materials used by making <br /> repairs, correcting deficiencies and performing emergency maintenance on all <br /> improvements described above plus all appurtenant devices associated therewith for a period <br /> of not less than 1 year(s)from November 13, 2023 , Principal and Surety agree to save the City <br /> harmless from any loss, cost or damage by reason of Principal's failure to make repairs, correct <br /> deficiencies and perform emergency maintenance for the required period of time. Principal <br /> and Surety further agree to promptly reimburse the City for emergency repairs and/or <br /> maintenance. Necessary repairs shall be performed by the Principal on receipt of seven (7) days <br /> written notice from the City sent to the address noted below directing performance of such <br /> work. If the Principal shall fail to make said repairs, the City may perform the work and the <br /> cost of the work shall be paid to the City by the Principal or Surety. At the end of 1 years(s) <br /> of maintenance by the Principal, the City shall inspect the improvement together with all other <br /> appurtenant devices associated therewith and if this obligation has been satisfied to the <br /> satisfaction of the City Engineer, then this obligation shall be void, otherwise to remain in full <br /> force and effect. <br /> In the event the City is required to institute litigation to obtain performance pursuant to <br /> this bond, Principal and Surety agree to pay all reasonable attorney's fees and cost which are <br /> incurred bythe City. <br /> SIGNED AND SEALED and DELIVERED this 13th day of November , 2023 . <br /> Bridge Point Everett 500 LLC <br /> Pri <br /> 10655 NE 41h Street,Suite 212, Bellevue,WA 98004 <br /> Address <br /> Harco National Insurance Cornpiny <br /> — ` <br /> Att4tyev in Fact, Steph nie L. K!earman <br /> Warranty Bond to the City of Evei_eJt — Pale 3 <br /> 3200 Cedar Street • Everett, WA 98201 • 425.257.8810 • wxv\v.eve iettwa.gov <br />