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PAYMENT BOND <br /> Bond No. SOO 1-3244 Premium:Included <br /> The City of Everett has awarded to Karl Needham Enterprises, Inc. <br /> (Principal), a contract for the construction of <br /> the project designated as 2016 Biosolids Disposal, Project No WO 2E00-4-1, in Everett Washington <br /> (Contract), and said Principal is required under the terms of that Contract to furnish a payment bond in accord <br /> with Title 39.08 Revised Code of Washington(RCW)and(where applicable)60.28 RCW. <br /> The Principal,and Allied World Specialty Insurance Company (Surety), a corporation organized under the <br /> laws of the State of Delaware and licensed to do business in the State of Washington as surety <br /> and named in the current list of'Surety Companies Acceptable in Federal Bonds as published in the Federal <br /> Register by the Audit Staff Bureau of Accounts, U.S.Treasury Dept, are,jointly and severally held and firmly <br /> bound to the City of Everett in the sum of Six Hundred Sixty Four Thousand Four Hundred Ninety* US Dollars <br /> ($664,492.92 )Total Contract Amount,subject to the provisions herein. <br /> This statutory payment bond shall become null and void, if and when the Principal, its heirs, executors, <br /> administrators, successors, or assigns shall pay all persons in accordance with RCW Titles 39.08 and 39.12 <br /> including all workers, laborers, mechanics, subcontractors, and material suppliers,and all persons who shall <br /> supply such contractor or subcontractor with provisions and supplies for the carrying on of such work;and if such <br /> payment obligations have not been fulfilled,this bond shall remain in full force and effect. <br /> The Surety for value received agrees that no change, extension of time, alteration Of addition to the terms of the <br /> Contract the specifications accompanying the Contract, or to the work to be performed under the Contract shall in <br /> any way affect its obligation on this bond, except as provided herein, and waives notice of any change, extension <br /> of time, alteration or addition to the terms of the Contract or the work performed.The Surety agrees that <br /> modifications and changes to the terms and conditions of the Contract that increase the total amount to be paid <br /> the Principal shall automatically increase the obligation of the Surety on this bond and notice to Surety is not <br /> required for such increased obligation. <br /> This bond may be executed in two(2)original counterparts, and shall be signed by the parties'duly authorized <br /> officers.This bond will only be accepted if it is accompanied by a fully executed and original power of attorney for <br /> the officer executing on behalf of the surety. <br /> PRINCIPAL Karl Needha nterprises,Inc. SURE I Y Allied World Specialty Insurance Comany <br /> Ake7 . <br /> Pri -d Name: / Aire1114,1, Printed Name; David Mahler on April 22, 2016 <br /> Title: Sect—el-441 if=ta.C./4 re,./ Title: Attorney-In-Fact <br /> Name, address, and telephone number of local office/agent of Surety is: <br /> Direct Surety Insurance Sales <br /> 1065 E. Hillsdale Blvd.#230,Foster City, CA 94404 <br /> (650)274-0194 <br /> PAYMENT BOND APPROVED BY <br /> CITY OF EVERE I I,WASHINGTON All .T APPROVED AS TO FORM: <br /> fUaq <br /> By:1 / <br /> an •n Mayor Sharon Fuller, City Clerk James D. Ile , i <br /> Date' /11( P. Date: D <br /> *Two and 92/100ths <br /> 2016Biosolids Disfacesi Division C-CONTRACT March 1,2016 <br /> Work Order#UP 2600-4-1 C-5 <br /> Provided to Builders Exchange of WA, Inc. For usage Conditions Agreement see www.bxwa.com - Always Verify Scale <br />