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• ' <br /> I City of Everett 006113 - 1 <br /> Phil Johnson Ballfields Renovation <br /> ISECTION 00 6113 - PERFORMANCE BOND AND PAYMENT BOND <br /> PERFORMANCE BOND <br /> IBond No.: SAIFSU0748638 <br /> I The City of Everett has awarded to Premier Field Development, Inc. (Principal), a contract for the construction of <br /> the project designated as Phil Johnson Ballfields Renovation, Project No.2019-054, in Everett, Washington <br /> (Contract), and said Principal is required to furnish a bond for performance of all obligations under the Contract. <br /> The Principal, and International Fidelity Insurance Company (Surety), a corporation organized under the <br /> laws of the State of N.J. 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 /> I bound to the City of Everett in the sum of Four Million Two Hundred Twenty Four Thousand,Three Hundred <br /> Two and 46/100 US Dollars($4,224,302.46)Total Contract Amount, including 9.80% WSST, subject to the <br /> provisions herein. <br /> I This statutory performance bond shall become null and void, if and when the Principal, its heirs, executors, <br /> administrators, successors, or assigns shall well and faithfully perform all of the Principal's obligations under the <br /> Contract and fulfill all the terms and conditions of all duly authorized modifications, additions, and changes to said <br /> I Contract that may hereafter be made, at the time and in the manner therein specified; and if such performance <br /> 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 or addition to the terms of the <br /> I 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, and waives notice of any change, extension of time, alteration or <br /> addition to the terms of the Contract or the work performed. The Surety agrees that modifications and changes to <br /> the terms and conditions of the Contract that increase the total amount to be paid the Principal shall automatically <br /> I <br /> increase the obligation of the Surety on this bond and notice to Surety is not required for such increased <br /> obligation. <br /> I 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 /> IPRINCIPAL Premier Field Development,Inc. SURE nternational Fidelity Insurance Company <br /> -----) 4t1,-1--- <br /> 1111 Printed Name: �OQJ le E- a.sch Printed Name: Jim S. Kuich <br /> Title: Sec-C-(1'7/-9y Title: Attorney-in-fact <br /> I Name, address, and telephone number of local office/agent of Surety is: <br /> HUB Northwest <br /> PO Box 3018, Bothell WA 98041-3018 <br /> I (425)489-4500 <br /> I <br /> I <br /> I <br /> 00 6113 - 1 PERFORMANCE BOND AND PAYMENT BOND <br />