Laserfiche WebLink
1 <br /> I 1. Bidder and Surety, jointly and severally, bind themselves, their heirs, executors. <br /> administrators, successors and assigns to pay to the City upon default of Bidder the penal sum <br /> set forth on the face of this Bond. <br /> I2. Default of Bidder shall occur upon the failure of Bidder to deliver within the time <br /> required by the Bidding Documents the executed Agreement required by the Bidding <br /> I Documents, any performance and payment bonds required by the Bidding Documents and <br /> Contract Documents, and evidence of insurance required by the Bidding Documents and <br /> Contract Documents. <br /> I3. This obligation shall be null and void if: <br /> I 3.1. City accepts Bidder's bid and Bidder delivers within the time required by the <br /> Bidding Documents (or any extension thereof agreed to in writing by City) the <br /> executed Agreement required by the Bidding Documents. any performance and <br /> I payment bonds required by the Bidding Documents and Contract Documents, <br /> and evidence of insurance required by the Bidding Documents and Contract <br /> Documents. or <br /> I3.2. All bids are rejected by City. or <br /> 4. Payment under this Bond will be due and payable upon default of Bidder and within <br /> I thirty (30) calendar days after receipt by Bidder and Surety of written notice of default from <br /> the City. which notice will be given with reasonable promptness, identifying this Bond and the <br /> Project and including a statement of the amount due. <br /> I5. Surety waives notice of any and all defenses based on or arising out of any time extension <br /> to issue notice of award agreed to in writing by City and Bidder. provided that the time for <br /> II issuing notice of award including extensions shall not in the aggregate exceed one hundred <br /> twenty (120) days from Bid Due Date without Surety's written consent. <br /> I 6. No suit or action shall be commenced under this Bond prior to thirty (30) calendar days <br /> after the notice of default required in paragraph 4 above is received by Bidder and Surety. Any <br /> suit or action under this bond must be instituted within the time period provided by applicable <br /> I law. <br /> 7. The laws of the State of Washington shall apply to the determination of the rights and <br /> I obligations of the parties hereunder. Venue for any dispute or claim hereunder shall be the <br /> state courts of Washington in Snohomish County, Washington. <br /> 8. Notice required hereunder shall be in writing sent to Bidder and Surety at their respective <br /> I addresses shown on the face of this Bond. Such notices may be sent by personal delivery. <br /> commercial courier or United States Registered or Certified Mail, return receipt requested. <br /> postage prepaid. and shall be deemed to be effective upon receipt by the party concerned. <br /> 1 <br /> N.t;Ro:v»y.%y ritANsur IMPROVEMENT PROJECT <br /> . tiTATE F( Ncm(:('B23I6:COE%Ut:3644 PROPOSAL.!) August 8.2018 Irovided to Builders Exchange of WA, Inc. For usage Conditions Agreement see www.bxwa.com - Always Verify Scal <br />