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City of Everett Everett Station HVAC and Controls Improvements 00 61 13 - 2 <br /> <br /> <br /> <br />00 61 13 - 2 PERFORMANCE BOND AND PAYMENT BOND <br /> <br /> <br /> <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 Everett Station HVAC and Controls Improvements, 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 <br />(RCW) and (where applicable) 60.28 RCW. <br /> <br />The Principal, and ______________________________________ (Surety), a corporation organized under the laws of the <br />State of ______________________ and licensed to do business in the State of Washington as surety and named in the <br />current list of “Surety Companies Acceptable in Federal Bonds” as published in the Federal Register by the Audit Staff Bureau <br />of Accounts, U.S. Treasury Dept., are jointly and severally held and firmly bound to the City of Everett in the sum of <br />______________________________________________ US Dollars ($________________________), which is the Contract <br />Sum, 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, <br />successors, or assigns shall pay all persons in accordance with RCW Titles 39.08 and 39.12 including all workers, laborers, <br />mechanics, subcontractors, and material suppliers, and all persons who shall supply such contractor or subcontractor with <br />provisions and supplies for the carrying on of such work, and all taxes incurred on said Contract under Title 50 and 51 RCW <br />and all taxes imposed on the Principal under Title 82 RCW; and if such payment obligations have not been fulfilled, this bond <br />shall remain in full force and effect. <br /> <br />The Surety agrees to indemnify, defend, and protect the City of Everett against any claim of direct or indirect loss resulting <br />from the failure of the Principal, its heirs, executors, administrators, successors, or assigns, (or the subcontractors or lower tier <br />subcontractors of the Principal) to pay all laborers, mechanics, subcontractors, lower tier subcontractors, materialpersons, and <br />all persons who shall supply such contractor or subcontractors with provisions and supplies for the carrying on of such work. <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 <br />obligation on this bond, and waives notice of any change, extension of time, alteration or addition to the terms of the Contract <br />or the work performed. The Surety agrees that modifications and changes to the terms and conditions of the Contract that <br />increase the total amount to be paid the Principal shall automatically increase the obligation of the Surety on this bond 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. This <br />bond will only be accepted if it is accompanied by a fully executed and original power of attorney for the officer executing on <br />behalf of the surety. The Surety agrees to be bound by the laws of the state of Washington and subjected to the jurisdiction of <br />the state of Washington. <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 /> <br />STANDARD BOND FORM <br />OFFICE OF THE CITY ATTORNEY <br />APPROVED AS TO FORM <br />APPROVED AS TO CITY CHARTER § 4.1 <br /> <br />Local Office/ Agent of Surety: <br />Name:_____________________ <br />Address:___________________________ <br />Phone Number:_____________________ <br />Email: ____________________________ <br />END OF SECTION 00 61 13