040-23 - Miles Resources, LLC - Contract Maintenance/Warranty BondCITY OF PORT ORCHARD
MAINTENANCE/WARRANTY BOND
Note: This form must be completed at Contract Completion. Before the Performance Bond (or
the retainage when the performance bond is waived) can be released, the City must receive the two
year MaintenancelWarranty Bond
Project #: PW2023-003
Contract #:
Surety Bond #:
Date Posted:
Expiration Date:
RE: PROJECT NAME: 2023 City Wide Asphalt Repair Project
Owner/Developer/Contractor:
Project Address:
KNOW ALL PERSONS BY THESE PRESENTS: That we, (hereinafter
called the "Principal"), and , a corporation organized under the laws of
the State of , and authorized to transact surety business in the State of
Washington (hereinafter called the "Surety"), are held and firmly bound unto the City of Port
Orchard, Washington, in the sum of
dollars ($ ) 20% of the total contract amount, lawful money of the United
States of America, for the payment of which sum we and each of us bind ourselves, our heirs,
executors, administrators, successors and assigns, jointly and severally, by these presents. THE
CONDITIONS of the above obligation are such that:
WHEREAS, the above named Principal has constructed and installed certain
improvements on public property in connection with a project as described above within the City
of Port Orchard; and
WHEREAS, the Principal is required to post a bond for the twenty-four (24) months
following written and final acceptance of the project in order to provide security for the
obligation of the Principal to repair and/or replace said improvements against defects in
workmanship, materials or installation during the twenty-four (24) months after written and final
approval/acceptance of the same by the City;
NOW, THEREFORE, this Maintenance Bond has been secured and is hereby submitted to
the City. It is understood and agreed that this obligation shall continue in effect until released in
writing by the City, but only after the Principal has performed and satisfied the following
conditions:
A. The work or improvements installed by the Principal and subject to the terms and
conditions of this Bond are as follows: (insert complete description of work here)
B. The Principal and Surety agree that the work and improvements installed in the above -
referenced project shall remain free from defects in material, workmanship and installation (or,
Rev 3/18122 JR
City of Port Orchard 2023 City Wde Aspth* Repair PROJECT # PW2023-003
Contract #
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