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Fulton Street Pedestrian Bicycle Corridor PROPOSAL: BID GUARANTY AND BID BOND <br />FEDERAL AID # TAP-0420(26) <br />PW# 3785 September 6, 2024 <br /> <br /> <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) calendar <br />days after receipt by Bidder and Surety of written notice of default from the City, which notice will be given <br />with reasonable promptness, identifying this Bond and the Project and including a statement of the amount <br />due. <br />5. Surety waives notice of any and all defenses based on or arising out of any time extension to issue <br />notice of award agreed to in writing by City and Bidder, provided that the time for issuing notice of award <br />including extensions shall not in the aggrega te exceed one hundred twenty (120) days from Bid Due Date <br />without Surety's written consent. <br />6. No suit or action shall be commenced under this Bond prior to thirty (30) calendar days after the notice <br />of default required in paragraph 4 above is received by Bidder and Surety. Any suit or action under this bond <br />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 obligations of <br />the parties hereunder. Venue for any dispute or claim hereunder shall be the state courts of Washington in <br />Snohomish County, Washington. <br />8. Notice required hereunder shall be in writing sent to Bidder and Surety at their respective addresses <br />shown on the face of this Bond. Such notices may be sent by personal delivery, commercial courier or United <br />States Registered or Certified Mail, return receipt requested, postage prepaid, and shall be deemed to be <br />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 deliver <br />such Bond and bind the Surety thereby. <br />10. This Bond is intended to conform to all applicable statutory requirements. Any applicable requirement of <br />any applicable statute that has been omitted from this Bond shall be deemed to be included herein as if set <br />forth at length. If any provision of th e Bond conflicts with any applicable provision of any applicable statue, <br />then the provision of said statue shall govern and the remainder of this Bond that is not in conflict therewith <br />shall continue in full force and effect. <br />11. The term "bid" as used herein includes a bid, offer or proposal as applicable. <br />BIDDER <br /> <br />_____________________________ (seal) <br />Bidder’s Name and Corporate Seal <br /> <br />By: ___________________________ <br />Signature, Title, and Date <br /> <br />Address: _______________________ <br />______________________________ <br /> <br /> <br />Attest: <br />________________________________ <br />Signature, Title and Date <br />SURETY <br /> <br />_____________________________ (seal) <br />Surety’s Name and Corporate Seal <br /> <br />By: ___________________________ <br />Signature, Title, and Date <br /> <br />Address: _______________________ <br />______________________________ <br /> <br /> <br />Attest: <br />________________________________ <br />Signature, Title and Date <br /> <br />