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DOT Form 272-002A <br />12/2019 <br />PUBLIC WORKS PERFORMANCE BOND <br />to City of Everett, WA <br />Bond No. _________ <br />The City of Everett, Washington has awarded to _______________________________________ (Principal), <br />a Contract for the construction of the project designated as 2025 PAVEMENT MAINTENANCE OVERLAY, <br />Project No. 3830, in Everett, Washington (Contract), and said Principal is required under the terms of that <br />Contract to furnish a bond for performance of all obligations under the Contract. <br />The Principal, and ______________________________________ (Surety), a corporation organized under <br />the laws of the State of ______________________ and licensed to do business in the State of Washington as <br />surety and named in the current list of Surety Companies Acceptable in Federal Bonds as published in the <br />Federal Register by the Audit Staff Bureau of Accounts, U.S. Treasury Dept., are jointly and severally held and <br />firmly bound to the ________________________________, in the sum of <br />_____________________________________________________________________________ US Dollars <br />($______________________________) Total Contract Amount, subject to the provisions herein. <br />This statutory performance bond shall become null and void, if and when the Principal, its heirs, executors, <br />administrators, successors, or assigns shall well and faithfully perform all of the Principals obligations under <br />the Contract and fulfill all the terms and conditions of all duly authorized modifications, additions, and changes <br />to said Contract that may hereafter be made, at the time and in the manner therein specified; and if such <br />performance obligations have not been fulfilled, this bond 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 indirect <br />loss resulting from the failure of the Principal, its heirs, executors, administrators, successors, or assigns (or <br />any of the employees, subcontractors, or lower tier subcontractors of the Principal) to faithfully perform the <br />Contract. <br />The Surety for value received agrees that no change, extension of time, alteration or addition to the terms of <br />the Contract, the specifications accompanying the Contract, or to the work to be performed under the Contract <br />shall in any way affect its obligation on this bond, and waives notice of any change, extension of time, alteration <br />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 <br />shall automatically increase the obligation of the Surety on this bond and notice to Surety is not required for <br />such increased obligation. <br />This bond may be executed in two (2) original counterparts, and shall be signed by the parties duly authorized <br />officers. This bond will only be accepted if it is accompanied by a fully executed and original power of attorney <br />for the officer executing on behalf of the surety. <br />The Surety agrees to be bound by the laws of the state of Washington and subjected to the jurisdiction of the <br />state of Washington. <br />PRINCIPAL SURETY <br />______________________________________ <br />Principal Signature Date Surety Signature Date <br />Printed Name Printed Name <br />Title Title <br />Local office/agent of Surety Company: <br />Name _________________________________ Telephone _________________________________ <br />Address ____________________________________________________________________________ <br />STANDARD BOND FORM <br />OFFICE OF THE CITY ATTORNEY <br />APPROVED AS TO FORM <br />APPROVED AS TO CITY CHARTER § 4.1