Bond No. _______________________

Performance Bond

Know all men by these presents: That whereas the City of Redmond, Washington has awarded to __________________________ (Contractor) hereinafter designated as the "Principal" a contract for the construction of the project designated ________________________________, Project No. __________ Redmond, Washington all as hereto attached and made a part hereof and whereas, said principal is required under the terms of said contract to furnish a bond for the faithful performance of said contract:

NOW, THEREFORE, we, the principal, and __________________________________________________ (Surety), a corporation, organized and existing under and by virtue of the laws of the State of ___________________, duly authorized to do business in the State of Washington, as surety, are held and firmly bound unto the City of Redmond, Washington, in the sum of:

___________________________________________________________ Dollars ($_________________) Total Contract Amount

lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by those presents.

THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bonded principal, his or its heirs, executors, administrators, successors, or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and agreements in the said contract, and shall faithfully perform all the provisions of such contract and shall also well and truly perform and fulfill all the undertakings, covenants, terms, conditions and agreements of any and all duly authorized modifications of said contract that may hereafter be made, at the time and in the manner therein specified and shall pay all laborers, mechanics, subcontractors, and material men, and all persons who shall supply such person or persons, or subcontractors, with provisions and supplies for the carrying on of such work, on his or their part, and shall indemnify and save harmless the City of Redmond, Washington, their officers and agents from any claim for such payment; and shall further save harmless and indemnify said City of Redmond, Washington, from any defect or defects in any of the workmanship entering into any part of the work or designated equipment covered by said contract, which shall develop or be discovered within one (l) year after the final acceptance of such work, then this obligation shall become null and void; otherwise, it shall be and remain in full force and effect; provided that the liability hereunder for defects in materials and workmanship for a period of one (l) year after the acceptance of the works shall not exceed the sum of:

_______________________________________________________ Dollars

($_________________) Total Contract Amount

And the said surety, for value received, hereby further stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the work to be performed thereunder or the specifications accompanying the same shall in any way affect its obligation on this bond, and it does hereby waive notice of any change, extension of time, alterations or additions to the terms of the contract or the work or to the specifications.

The Surety hereby agrees that modifications and changes may be made in the terms and provisions of the aforesaid Contract without notice to Surety, and any such modifications or changes increasing the total amount to be paid the Principal shall automatically increase the obligation of the Surety on this Performance Bond in a like amount, such increase, however, not to exceed twenty-five per cent (25%) of the original amount of this bond without the consent of the Surety.

IN WITNESS WHEREOF, the said principal and the said surety have caused this bond and two (2) counterparts thereof to be signed and sealed by their duly authorized officers this _______ day of ______________, l9___.

__________________________________
Principal

By ________________________
Signature

__________________________________
Printed

__________________________________
Title

ATTEST: (if corporation)

__________________________________
Surety

By __________________________________
Signature

__________________________________
Printed

Its ________________________

Name and Address of local office/agent of Surety Company is:

__________________________________
__________________________________
__________________________________

By _________________________

Title ________________________

Approved As To Form:

__________________________________
City Attorney