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Section 00 61 23 <br /> Retainage Bond <br /> BOND NO. <br /> RETAINAGE BOND <br /> KNOW ALL MEN BY THESE PRESENTS, that , a corporation organized under <br /> the laws of the State of , and registered to do business in the State of <br /> Washington as a contractor, as Principal, and , a corporation organized <br /> under the laws of the State of _and registered to transact business in <br /> the State of Washington as Surety,their heirs, executors, administrators, successors and assigns, are <br /> jointly and severally hek1 and hn!ind to the City of Everett, Washington, hereinafter called "City", and <br /> 01 <br /> are similarly held and 1 ted by RCW Chapter 60.28, in <br /> the sum of _) plus five (5%) percent of any <br /> increases that may occ i (s's ment of which, well and truly to <br /> be paid, we bind ours ?1 '! nd severally,formally by these <br /> presents. O'� <br /> THE CONDITIONS OF 1 =i .\.) <br /> WHEREAS, on `1 -A ► :t (the "Contract") <br /> with the City known a <br /> PROJECT NAW F REPLACEMENT PHASE 2 <br /> 3 <br /> WHEREAS,said Contr 1 ,' e , hhold from monies earned by <br /> the Principal during t ,'� 7 *1, ll ed to as "earned retained funds"; <br /> frez,0 <br /> WHEREAS,the PrinciilAy 3 v V d and release earned retained <br /> funds to Principal, as C <br /> C/\ <br /> NOW,THEREFORE,tlr� M. (. ?ty is held and bound to the City <br /> to indemnify, defenc (v ) costs or damages that the City <br /> may sustain by reasc • -6 :ipal,then this obligation to be <br /> null and void, other 6 <br /> V <br /> PROVIDED, HOWEVER, it is expressly uwiueI 1.,.;‘,. ..:.... -b._ <br /> 1. Any suit or action under this bond must be instituted within the time period, if any, <br /> provided by applicable law. The bond shall be subject to all claims and liens provided for by law or <br /> Contract against the earned retained funds and in the same manner and priority as set forth for retained <br /> percentages in RCW Chapter 60.28 and the Contract. <br /> 1 <br />