5810 FLEMING ST 2018-01-02 MF Import

BOND NO. 003533 NOW, THEREFORE, The condition of this obligation is such, that if the Principal for a period of one (1) year from the effective date of this bond ("Maintenance Period") makes repairs, corrects deficiencies, performs emergency maintenance, and saves the City harmless from any loss, cost, or damage from failure to so do, then this obligation shall be void; otherwise to remain in full force and effect; Provided: 1) That no claim may be made against this bond for or arising out of any claimed or actual tortious injury to property or person (including death) even where the Principal's duty to respond in tort is imposed by contract. i 2) Necessary repairs and corrections shall be performed by Principal on receipt of seven (7) days written notice from the City sent to the address noted below directing performance of I! such work. If the Principal shall fail to respond, City shall tender performance to the Surety at its home offices at 1213 i;t.. Valley Street, P. O. Box 9271, Seattle, Washington 98109. The Surety, at its option, a) may cause the work to be performed within a reasonable time or b) may allow the City to perform the work. If the City performs the work the Principal shall pay the cost or, if the Principal fails to pay, the Surety shall inde nify the City. 3) At the end of the Maintenance Period the City shall inspect the Improvements together with all other appurtenant devices associated therewith and shall either release the bond or shall notify Principal and Surety of necessary repairs as described above. The City's failure to make a timely inspection shall discharge the Surety hereunder. 2