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WARRANTY BOND(NON-PUBLIC WORKS PROJECT) <br /> BOND NO.:023231393 EVERETT <br /> Project SITE GRADING FOR ACCESS FROM 35TH AVE NE, PAVING, DRAINAGE <br /> Permit Number: PW2306-015 <br /> Principal: Mina Properties III LLC <br /> i <br /> Surety: The Ohio Casualty Insurance Company <br /> Bond Amount: $6,857.10 <br /> Required Improvements: Stormwater Improvements <br /> Required Improvements 2801-35th Avenue NE <br /> Location <br /> Date of City Acceptance 10/14/2024 <br /> of the Required <br /> Improvements <br /> Warranty Period Warranty Period extends for 24 months after the date of City <br /> acceptance of the Required Improvements <br /> KNOW ALL PERSONS BY THESE PRESENTS:That we,the Principal named in the table above, and <br /> the Surety named in the table above, a corporation authorized to transact surety business in the State <br /> of Washington, are held and firmly bound unto the City of Everett, Washington, in the sum of the Bond <br /> Amount stated in the table above, lawful money of the United States of America,for the payment of <br /> which sum we and each of us bind ourselves, our heirs, executors, administrators, successors and <br /> assigns,jointly and severally, by these presents. THE CONDITIONS of the above obligation are such <br /> that: <br /> WHEREAS, Principal has constructed and installed the Required Improvements as set forth in <br /> the table above in connection with the Project with Permit Number set forth in the table above; <br /> WHEREAS, the City requires Principal to provide security for Principal's warranty that the <br /> Required Improvements shall remain free from defects in performance, design, workmanship, <br /> materials, and installation (or, in the case of landscaping, shall survive)for the Warranty Period set <br /> forth in the table above;and <br /> NOW,THEREFORE, it is understood and agreed that this obligation shall continue in effect until <br /> released in writing by the City, but only after Principal has performed and satisfied the conditions set <br /> forth below: <br /> A. Conditions <br /> (1) Principal must have maintained, repaired or replaced the Required Improvements so that <br /> the Required Improvements have remained free from defects in performance, design, <br /> workmanship, materials, and installation (or, in the case of landscaping, have survived)for <br /> the entire Warranty Period. <br /> (2) Principal must have paid for the costs of related incidental and consequential damages <br /> caused by any such defects, including without limitation the cost of inspection by the City <br /> or emergency repair by the City. <br /> Warranty Bond—Page 1 <br />