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<br />Page 38 of 43 <br />PAYMENT BOND <br />Bond No. _____________________ <br /> <br />The City of Everett has awarded to __________________________ (Principal), a contract for the construction of the project <br />designated as Unit Price HVAC Services and Repairs, Bid No. 2022-047, in Everett, Washington (Contract), and said Principal is <br />required under the terms of that Contract to furnish a payment bond in accord with Title 39.08 Revised Code of Washington (RCW) <br />and (where applicable) 60.28 RCW. <br /> <br />The Principal, and ______________________________________ (Surety), a corporation organized under the laws of the S tate of <br />______________________ and licensed to do business in the State of Washington as surety and named in the current list of “Sur ety <br />Companies Acceptable in Federal 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 />______________________________________________ US Dollars ($________________________), which is the Required Bond <br />Amount, subject to the provisions herein. <br /> <br />This statutory payment bond shall become null and void, if and when the Principal, its heirs, executors, administrators, succ essors, <br />or assigns shall pay all persons in accordance with RCW Titles 39.08 and 39.12 including all workers, laborers, mechani cs, <br />subcontractors, and material suppliers, and all persons who shall supply such contractor or subcontractor with provisions and <br />supplies for the carrying on of such work and shall pay the taxes, increases, and penalties incurred on the project; and if such <br />payment obligations have not been fulfilled, this bond shall remain in full force and effect. <br /> <br />The Surety for value received agrees that no change, extension of time, alteration or addition to the terms of the Contract, the <br />specifications accompanying the Contract, or to the work to be performed under the Contract shall in any way affect its obligation <br />on this bond, except as provided herein, and waives notice of any change, extension of time, alteration or addition to the te rms of <br />the Contract or the work performed. The Surety agrees that modifications and changes to the terms and conditions of the Contract <br />that increase the total amount to be paid the Principal shall automatically increase the obligation of the Surety on this bon d and <br />notice to Surety is not required for such increased obligation. <br /> <br />This bond may be executed in two (2) original counterparts, and shall be signed by the parties’ duly authorized officers. Thi s bond <br />will only be accepted if it is accompanied by a fully executed and original power of attorney for the officer executing on behalf of the <br />surety. <br /> <br />PRINCIPAL <br /> <br />SURETY <br />_______________________________________ <br /> <br />_______________________________________ <br /> <br />Printed Name: ___________________________ <br /> <br />Printed Name: ___________________________ <br /> <br />Title: __________________________________ <br /> <br />Title: __________________________________ <br /> <br />Name, address, and telephone number of local office/agent of Surety is: <br /> <br /> <br /> <br /> <br /> <br />PAYMENT BOND APPROVED BY <br />CITY OF EVERETT, WASHINGTON <br /> <br /> <br />By: ____________________________ <br />Cassie Franklin, Mayor <br />Date: _________________ <br /> <br />ATTEST: <br /> <br /> <br />_________________________ <br />City Clerk <br />Date: ______________ <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />___________________________ <br />City Attorney <br />Date: _______________ <br />