3510 COLBY AVE 2018-01-02 MF Import

services from qualified minority businesses. Contractor shall fumish evidence of his compliance with thesc requirements of minority employment and solicitation. Contractor further agrees to consider the grant of subcontracts to said minority bidders on the basis of substantially equal proposals in the light most favorable to said minority businesses. The Contractor shall be required to submit evidence of compliance�vith this section. �ONTRACT BOND OR PF.RFORMANG . BOND 17ie successful bidder will be required to make, execute, and deliver a good and sufficient bond equal to the amount of the full contract price with a surety company as surety, conditioned lhat the successful bidder shall faithfully perfortn all the provisions of this contract and pay all laborers, mechanics, and subcontraclors and material men and all persons who supply such person or persons, or subcontractors, with provisions and supplies for the carrying on of such work. This bond shall be filed with the Ciry Clerk. The surety must agree to be bound by the laws of the State of Washington and subject to the jurisdiction of the State of Washington. The Performance Bond shall be on the form provided by the City of Everett. Sincc this project is anticipated to cost $25,000 or less, tl�e contractor may, in lieu of the bond, elect to have the city retain fifly percent of the contract amount for a period of fod}�-five days after date of final acceptance, or until receipt of all necessary releases from the Department of Revenue and the Department of Labor and Industries and settlement of any liens filed under chapter 60.28 RCW, whichever is later. PAYMENT Payment will be made in one lump sum forty five days afler the contract has b;en accepted as complete by the Project Manager or until receipt of all necessary releases from the Department of Revenue and the Depariment of Labor and Industries and settlement of any liens filed under Chapter 60.28 RCW, �vhichevcr is later. Contractor must submit a notarized statement certifying that prevailing wages have becn paid, all claims for maierial and labor have been paid and all taxes have been paid before the City will make final paymcnt on this contract. IjySURANCE Contrzctor shall secure minimum Public Liabiliry and Property Damagc coverage in the minimum amount of$500,000 for death or injury to any one person, and $1,000,000 t'or dealh or injury to two or more perons in any one occurrence, and $1,000,('00 for prorerty damage in any one occurrence with any aggregate property damage coverage of $1,00Q000 fbr hvo or more occurrences from an Insurance company authorized to do business in the State of Washington. Said insurance coverage may be supersedcd by addenda or other provisions of the contract. City shall Ue an additional named insured on said insmnncc in a form acceptablc Uy the Cily Attomey. 11ie Contractor agrees to repair and replace all property of the City and all property of others damaged by himsclf, his employees, and subcontractors, and agents. 3