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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 , 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 />SIGNEDAND SEALED and DELIVERED this 17th day of May , 20 24 . <br />x$yrorner, rLLi f+l!/,75Q.r 1�+, /►�uaa�111j `�''� <br />Princ <br />10900 NE 8th St. Bellevue, WA 98004 <br />Address --- <br />Markel Insurance Company <br />Sur _ SE:A.L <br />AttO y In act Eli abeth Hahn %y••444No�s.•' <br />li nrrmnly Bond to the CNy of Eves -ell _.......... Page 2 <br />3200 Cedar Street • L,verell, WA 98201 • 425.257.8810 wvv%y,.everettwa.gov <br />