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AG 11-029 - QUADRANT CORPORATIONx��r�uv Ta 5�.�,n'1��. ExT: �� CITY OF FEDERAL WAY LAW DEPARTMENT ROUTING FORM 1. ORIGINATING DEPT/DIV: PUBLIC WORKS /'S�� ORIGINATING STAFF PERSON: �� f'IZ�CG� Y�:� EXT: �� l 3. DATE REQ. BY: �. TYPE OF DOCUMENT (CHECK ONE�: ❑ CONTRACTOR SELECTION DOCUMENT (E.G., RFB, RFP, RFQ) ❑ PUBLIC WORKS CONTRACT ❑ SMALL OR LIMITED PUBLIC WORKS CONTRACT ❑ PROFESSIONAL SERVICE AGREEMENT ❑ MAINTENANCE AGREEMENT ❑ GOODS AND SERVICE AGREEMENT ❑ HUMAN SERVICES / CDBG ❑ REAL ESTATE DOCUMENT ❑ SECURITY DOCUMENT (E.G. BOND RELATED DOCUMENTS� ❑ ORDINANCE 0 RESOLUTION ❑ CONTRACT A NDMENT� AG# : ❑ INTERLOCAL �OTHER �.t.'�YI�'Z( C'.�" 7 1�Y K��i �'Y�3' � Y s�'�I'��n.� 5. PROJECTNAME: �- ��e�� L�� l � L�'1WI�L��Y��iYYG�� 6. NAME OF CONTR ADDRESS: �o E SIGNATURE NAME IN TIAL / DATE SIGNED a O � s�i\ 2�� — AG# � �T� Z� DATE SENT: ,7 • 7��7 - � ` 1. EXHIBITS AND ATTACHMENTS: ❑ SCOPE, WORK OR SERVICES ❑ COMPENSATION ❑ INSURANCE REQUIREMENTS/CERTIFICATE ❑ ALL OTHER REFERENCED EXHIBITS O PROOF OF AUTHORITY TO SIGN ❑ REQUIRED LICENSES ❑ PRIOR CONTRACT/AMENDMENTS CFW LICENSE # ��C"�� Z' ��J �'�� BL, EXP. 12/31 / J � [JBI # I�� C 1 1- �-{�%� , EXP. I 2-/ 3//� TERM: COMMENCEMENT DATE: COMPLETION DATE: 9. TOTAL COMPENSATION: $ �� (INCLUDE EXPENSES AND SALES TAX, IF ANY) (IF CALCULATED ON HOURLY LABOR CHARGE - ATTACH SCHEDULES OF EMPLOYEES TITLES AND HOLIDAY RATES� REIMBURSABLE EXPENSE: ❑ YES ❑ NO IF YES, MAXIMIJM DOLLAR AMOLJNT: $ IS SALES TAX OWED: ❑ YES � NO IF YES, $ PAID BY: ❑ CONTRACTOR ❑ CITY ❑ PURCHASING: PLEASE CHARGE TO: __ lO. DOCUMENT / CONTRACT REVIEW 1� PROJECT MANAGER W II�� DEPUTYDIRECTOR �(��.�(p �1 DIRECTOR �41�ap(� �S( LAW DEPT 11. COUNCIL APPROVAL �IF APPLICABLE� INITIAL / DATE REVIEWED INITIAL / DATE APPROVED l 1/.� U 1 U �,',..�," - �,.�L[.� 1�/ i(� • - `� L\ � �� I��Ixli � 6 Il tQ- �7— L 11 lD��l� , ` l2 l� �.e eJia-S 1a ` .�c:%�� , COMMITTEE APPROVAL DATE: UNCIL APPROVAL DATE: —� 12. CONTRACT SICNATURE ROUTING �SENT TO VENDOR/CONTRACTOR DATE SENT: DATE REC'D: ❑ ATTACH: SIGNATURE AUTHORITY, LICENSES, EXHIBITS ZI �( LAW DEPT p �+� SIGNATORY�C �'..�I�,�1��' � �'Z CITYCLERK V � ASSIGNED AG # SIGNED COPY RETURNED '� RETURN ONE ORIGINAL �OMMENTS: XECUTE `�%` ORIGINALS Atn��S : - �P,,-�m '� l,OGtl� t�f7i/I ��/;�n ?— 1 � ' c. �e r� fS ��i„ �� FAx: T7TLE:.SPc�/�1��'I�iv�f A�7(d�Y. }� e't c ��-�- ,��,�ss CONTRACT FOR SOUTH 320 STREET OVERLAY REIMBURSEMENT „ THIS CONTRACT ('�Contract'� is dated effective this �'' day of Ch�''i�,��Y'�' 201�. (��EfFective Date'� and is made by and between the City of Federal Way, a Wa hington municipal corporation ("City'�, and The Quadrant Corporation, a Washington corporation ("Quadrant'�. A. Quadrant was developing the East Campus Corporation Park Parcel 1 that abuts the South 320 Street right of way between I-5 Limited Access to Weyerhaeuser Way S (�'Properry'�. Quadrant and any other parry that now or hereafter owns the Property or any portion thereof is sometimes referred to herein as the °Property Owner". B. In connection with obtaining the permits for development of the Property, Quadrant became obligated to overlay South 320 Street from I-5 Limited Access to Weyerhaeuser Way S along the north margin of South 320 Street fronting the Property along with associated channelization, signal loops and utility adjustments (collectively, "Overlay Work'� pursuant to that certain City of Federal Way Agreement and Performance/Maintenance Bond (Permit #BSP98-0003/Bond #6001751) dated July 19, 1999 (��Original Overlay Agreement'�, which obligation was secured by a$150,000 Performance/Maintenance Bond issued by Safeco Insurance Company of America ('�Overlay Bond'�, a copy of all of which is attached as Exhibit A . C. Quadrant desires that the City incorporate the Overlay Work into the City 2011 Asphalt Overlay Project and release the Property Owner and the surety for the Overlay Bond from any further obligations with respect to the Overlay Work and the City is willing to do so in exchange for a lump sum payment in the amount of $320,000 from Quadrant all on the terms and conditions set forth below. NOW, THEREFORE, the City and Quadrant (��Parties'� agree to the following terms and conditions: 1. CITY'S PERFORMANCE OBLIGATION Subject to receiving the Lump Sum Payment (as defined in Section 2 below), the City agrees to perform and complete the Overlay Work within one year after the EfFective Date. 2. QUADRANT'S PAYMENT OBLIGATION In exchange for the City agreeing to assume responsibility for the Overlay Work and to release the Property Owner, from any further obligations with respect to the Overlay Work, Quadrant agrees to pay the City the lump sum amount of $320,000 in immediately available funds ("Lump Sum Payment'�. On or before February 15, 2011, Quadrant shall deposit the Lump Sum Payment into an account designated by the City. South 320 Overlaying Reimbursement Contract - 1 - Q:�cro�ps��d �e�opme�c�Proj��so�m s2o�n �,a� szo�n Nort►,��szocn o�e.�a Street Overlay Agreement03 (MTK 121610).Docx 3. RELEASE AND DISCHARGE OF ORIGINAL OBLIGATIONS Subject to and effective upon receipt of the Lump Sum Payment, the City agrees that the Property Owner and any successors or assigns of the Properry Owner are fully released and discharged from any and all obligations to perform and/or fund any of the Overlay Work pursuant to the Original Overlay Agreement. Within 30 days after Quadrant makes the Lump Sum Payment, the City shall execute such documents and take such other actions as may be required (a) to formally terminate the Original Overlay Agreement, and (b) to cause the Overlay Bond to be fully released. 4. GENERAL PROVISIONS 4.1 Entire Contract. This Contract, including the Exhibits, contains all of the agreements of the Parties with respect to any matter covered or mentioned in this Contract and no prior agreements or understandings pertaining to any such matters shall be effective for any purpose. 4.2 Modification. No provisions of this Contract, including this provision, may be amended or added to except by agreement in writing signed by the Parties or their respective successors in interest. 4.3 Full Force and EfFect. Any provision of this Contract, which is declared invalid, void or illegal, shall in no way affect, impair, or invalidate any other provision hereof and such other provisions shall remain in full force and effect. 4.4 Successors In Interest. This Contract shall be binding upon and inure to the benefit of the Parties' successors in interest, heirs and assigns. 4.5 Attorney Fees. In the event of any litigation, arbitration or other proceeding arising out of or brought to enforce or interpret this Contract, the substantially prevailing party therein shall be entitled to an award of its reasonable attorneys' fees incurred therein, in the preparation therefore, and on any appeal or rehearing thereof. The venue for any dispute related to this Contract shall be King County, Washington. 4.6 No Waiver. Failure of either Party to declare any breach or default immediately upon occurrence thereof, or delay in taking any action in connection with, shall not waive such breach or default. Failure of either Parly to declare one breach or default does not act as a waiver of that Party's right to declare another breach or default. 4.7 Governing Law. This Contract is made in and shall be governed by and interpreted in accordance with the laws of the State of Washington. 4.8 Authori . Each individual executing this Contract on behalf of the City or Quadrant represents and warrants that such individual is duly authorized to execute and deliver this Contract on behalf of such Party. South 320"' Overlaying Reimbursement Contract - 2 - q:�cro� ��eioPme�r�P.o;��soUm 3zorn �a� szocn Nortn��szorn o�e�ia Street Overlay Agreement03 (MTK 121610).Docx 4.9 Notices. Any notices required to be given by the City to Quadrant or by Quadrant to the City shall be delivered to the Parties at the addresses set forth below. Any notices may be (i) delivered personally to the addressee of the notice (ii) deposited in the United States mail, postage prepaid, to the address set forth herein, or (iii) sent by Fedex or other recognized overnight courier service to the address set forth herein. Any notice so posted in the United States mail shall be deemed received three (3) days after the date of mailing. Any notice so sent by overnight courier shall be effective on the business day following receipt by the courier. 4.10 Captions. The respective captions of the Sections of this Contract are inserted for convenience of reference only and shall not be deemed to modify or otherwise affect in any respect any of the provisions of this Contract. 4.11 Performance Time is of the essence of this Contract and each and all oF its provisions in which performance is a factor. 4.12 Compliance with Ethics Code. If a violation of the City's Ethics Resolution No. 91-54, as amended, occurs as a result of the formation and/or performance of this Contract, this Contract may be rendered null and void, at the City's option. 4.13 Counterparts. This Contract may be executed in any number of identical counterparts, which counterparts shall collectively constitute the entire Contract. 4.14 Equal Opportunity to Draft. The parties have participated and had an equal opportunity to participate in the drafting of this Contract, and the Exhibits, if any, attached. No ambiguity shall be construed against any party upon a claim that that party drafted the ambiguous language. DATED the day and year set forth above. CITY OF FEDERAL WAY By: � Ski_p Pr�_est, Mayor 33325 8th Avenue South PO Box 9718 Federal Way, WA 98063-9718 AITEST: City Clerk, Carol cNeilly APPROVED AS TO FORM: South 320 Overlaying Reimbursement Contract - 3 - Q:��o�Ps��d �iopme�t�Pro;��s��cn 3zocn cA� szoch Nortn��szocn o�e�iaY\FINAL Street Overlay Agreement03 (MTK 121610).Docx �— - .r.� � - City Attorney, Patricia A. Richardson [signatures continue on next page] South 320` Overlaying Reimbursement Contract - 4 - Q:�cro� o�e�o szo�n cA� szotn r,ortn>�szom o�e��a Street Overlay Agreement03 (MTK 121610).Docx THE QUADRANT CORPORATION �y: �/� �� (Signature) � �� (Printed Name) G-'d� (Title) Quadrant Homes Attn: Paul Lymberis 14725 SE 36 Street, Suite 200 Bellevue WA 98006 STATE OF WASHINGTON ) � ) ss. COUNTY OF � ) On this day personally appeared before me �,�Z�� C2.a �( ,. to me known to be the �' �°`� of ��t�.2� ��-c.,�,� � that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that he/she was authorized to execute said instrument and that the seal affixed, if any, is the corporate seal of said corporation. l� �� GIVEN my hand and ofFcial seal this T.� day of � '7 ,. 2D�9: ```s```��o.��uu�� CH�S�b�� ' �; f , r \� �� ,��1.'��,.t-C t,�-r%a.� ± C �� -± _�� O '�A�,�� 4� /1 `�.. ,M i' kJ-L::3C�r..� _ �. �Af�Y ��i i t � � , �� , N ; (typed/printed name of notary) ;=� �°� :z; Notary Public in and for the S�at�of Washington. ; �%,� p�,��`�' � _ ��= My commission expires `�,� � � � � .,� �i,� ,� ��_ . �i t �-�• : '' d�� w P,',?`'`.' �i �i�t��eti.."�. \ Exhibits ` � Q:�t��E�.��. A. Original Overlay Agreement and Overlay Bond South 320"' Overlaying Reimbursement Contract - 5 - Q:�c�o��a ��eioPme�c�P.o;��so�cn 3zocn �n� s2ocn Nortn��szocn o�e�iaY\FINAL Street Overlay Agreement03 (MTK 121610).Docx EXHIBIT A ORIGINAL OVERLAY AGREEMENT AND OVERLAY BOND [See attached] South 320 Overlaying Reimbursement Contract - Exhibit A - Q:��o� ��e�o 3zon, �Aka 3zocn No�c�,>�3zocn o�e��a Street Overlay Agreement03 (MTK 121610).Docx Appficant: The fluadrant Corporation Bond #: (a4�1751 Project. East Campus Co�p� Park Pa�cel 1 Permit#: 6SP98-OC?43 Property Address: SW Corner Qfi S. 320"' St. and R�W#: Weyerhaeu5er Way �., Fecie�ai Way, WA 98003 Bond Amount: $150,OQ0.00 Cash Deposit Amount: 53,75Q.00 c�rtir oF �r�Ra� wA�r AGF�EEMENT A11iD PERF4RMANG�/MAINTENANCE BC1NCi THIS AG�tEEMEhIT {"Agrsement"} is dated effectiwe this 19`� dey of Juty, 199�. The parties t°Parties") to this Agreerner�t are the City of Feder�l Vllay, a 1Nashington municipal corporatian ("Ci#y"► a�d The Quadrant Garparation, a Washingtort co�rpara#ion {"Applicant"}. A. The AQplicant is required to perfnrm certain work and/or complete certain improvements, incEuding road grinding, f�ll width asphalt overfay, channalization, signa! laops and utility adjustments for approximately 1519 linea! feet of Sauth 320th Street from {-5 to Weyerhaeuser Way ir� Federal Way, Washington �n connection with App(icsnt's l.and Use AppiicatiQn u�der the above-referenced perrnit {"Permit"1: 8. The improvements will be cc�nstructed ar the v+rork performetf in accordance with drawings and pCans t" P�ans") requirsd to be submitted far review snd approval prior to issuance af a Ri�ht of Way permit and starting construciion; C. TFte City has determiried thst the Applicant must post security with the City pursuant to Sectians 22-146 throu$h 22-159 af the Federa# Way City Ct�de t"�WCC"? as r�aw existing or hereafter adopted or amended, to guarantee Applic�nt's perfiorma�ce af the required construction of improvements o� performance afi work wrthin thrse (3) years from the date of execution of th€s agreement and as a candition of gr�nting the Per�nit. This requirement rn�y be fu�ther delayed upan written request and apRroval by the Gity. NflW, THERE�ORE, the Psrties agree �s failvws: 1, Im,�r v,gm�nts. Applicant sha{I construct aA imprr�vem$�ts and parform �I) maintenance pursuani to the Plans, to the City's satisfactien ("Work"). The obtigatio� ta maintain the improvements shall corrtinue for a periad of two t23 years after issuance of t�e certificate af occupancy or final i�spection, or such longer period as required by the F1NGC or other appficable law, rwls ar reguiation. 2. ,�,ampletion pf Wark. The AppOicant sFral! complete the Work to the Citv`s satisfaction, within the time period p�escribed by the City, and in full comptiance with the Plans, +ncluding any approved amendments theret�o, and in co�formance wi#h all applicabMe laws, rules or regulations. 3. Psr��r�nnar}ce/M�inten�nce 8and� AppMi�ant shall deliver the fully executed Performance/ Maintenanee Bond to the City in the fnrm attached heretp as Exhibit "A" and inaorpvrated by tfiis reference ("Band"}, to guarantee Applicar�fi"s performance of the construction of the improvements andlor ma'rnt+enance of the improvements �ursuant ta the Plans. 4. Release of Bond. 1f the Prin�cipat ca�nstructs the improvements in accordance with the tet'ms of the Bond, the Permit and s�ll applica6le lew, the sum of the Bond shalf be reduced by severrty► percent t7t396f aftec �nat inspection and eppravat of the impravements by the City and the City will deliver to Principal the fu{ly executed Partial Reieese of Bor�d s�ttached hereto as Exhibit "B". Except as set forth in the preced'ing sentence, the Bond shail remain in full force and effect. That portion af the Band equal to thirty percent t30°�61 of the original penal sum shall remain in futl force and effect for two t2) years after fina! inspection and app�ovai, as a maintenance bond to gua�rantee against defective materials and workmanship in the construction of the improvements and to fnsure continued mair�tenance of the improvements Twp (23 years after final inspecti� and apprnval ef the improvements and performance of the maintenance, the City wi#I release the remainir�g partion of tf�e Bond by executing and detivering tv Principal the Full Release of Bond attached hereto as Exhibit "C". 5. �i�,�t to Comolete Work. In th� event the Applicant fails to perform the Work, the City may, but in �o event is i# obligated to, request ths disbursement of the Bo�ci from the surety and perfarm any of the necesssry Work. Upan demand, Applicant agrees to pay the City an amewnt equal t� al! of the City`s costs and expenses in perfor►rking sucfi Work in excess of the amount vf the 6ond. 6. N�„'�,,�. The Public Warks �spartment of the City shall be given forty-eight t48I hours notice priOr to the commsncement of tha Work. 7. lndemnrfi��ic�n. Applicant agrees to indemnifiy and ha�d the City, its electeti officials, offics�s, emplvyaes, ager�ts, anr3 votunteers ha�rmtess from any and a11 cieims, demands, losses, actians a�d iiabilities tincluding costs and �attatney fsesj arising frorn, resulting, or connected wu�ith this Agreement and the Bond, including without limitation, the City's performance af the Work pursuant tQ 5ection 5 herein. 8. A�i ;jnis�r�tive Cssh ��,��t. in addition to the amvunt of the Band, Applicant agrees to pay a cash depo�it to th+e City pursuant to Section 22-1*a1 of the FVI/CC, upan the execution �o# this Agreement equal tfl tF�e #ollawing percentages a# #�te amount of the 8ond: �, • • :e�o� Up ta 824,t300 520,001 - 550,000 550,001 - S'100,000 s i ao,oa � ��d �� :.A1� l � •.i i-�• 5% o# Bond tminimum S i 0�� 4°�6 �f Bond 396 of Bond Z-1 /2°,G of Bond The cash depc�sit may be usad by th� City to caver i#s actual expenses in administering this A��eement and, 'if tte�essary, co�lecting and using the prvice�ds from the Bond. 9, �t�m�dies �umutative. No remedy provide� for by this Agreernent shall be deemed exclusive, but shall be deemed curr►ulative and in addition tcr every othe� remedy evailable to the City at law, in equity or by statute. Applican#'s liability under this Agreement is not Iimited to the amount of the Bond. • vi ,yt.l - i • ! P • � � �' _ 1 �� r e r e e • s �. + • • � • v • • • • • �.'�' 11. Gen,.��l Provision�, This r4greement rrtay r�ot be amended except by writte� agreement signed byr the Parties. Any provisian o# this Agreement which is deciared invalid, sha�l nat ir��validate the remaining pravisi�ns of this Agreeme�t. The failure +�r delay of the City to declare ar�y breach or def�ult shall nt�t wsive such breach or aiefau[t. �his Agreem�nt may net be assigned by any Par#y without the written cc�nsent of the ott�er Party. This Agreement s�aU be binding upon and insure to the benefit vf the Parties' successors in interest. Time is of the essence. The By: Its: P.O. Box 130 Be�levue, WA 98fl09 425-455-29fl0 STATE t}F WASHII�T+C�TON ) ) ss. CUUNTY OF KIN�ir } Om tl�is day personallY appea�'ed before me, the unders►gned, a Notaty Public in and for the State af Washington, duty +commissionad and sworn, Sandv A. �Da R __ , w me known ta he the ��ecr�eta�v_ of � E�uadrant , the corparatlon that executed the foregoing insavmem, aazsid acknowledged the said instrument to be the free and valuntary act and deecl of said c�rporation, for the uses and purposes therein mentioned, a�d on oath statect that helshe was auchurized to execute said insmument and that the seal af�ned, if any, is the corgorate seal of said corpvration. GIVEN my hand and afficiai seal this d�y of , 19 ,��+u�s��tt,�� . ��tt t. p�P,��*� tary sign�tur+e) �'�"��1�i��'►�€'�. KAZ'HI,,EIIV T. DR�„ (tYPedlpriwted name of notary) Nqtaiy Public in and for the State of WashingWn. - �� My vammisseoc� expires: CITY OF FEDERAL WAY By: Kenneth E. Nyberg, Gity Manager 3353(? 1 st Way South Federsl Way. WA $8003 -3- SANBY D . Mci�ADE, SECIrETARY arr�sT: City C1erk. N. Chris#ine Green, CMC APPRfJVED AS Tt� FORM: �i �, ��..r t�� Cary M. Roe� Public V1/orks Director x:v�c�nsw�MarN.aar �w. ot-2e-s� -4- EXHIBiT A Pro�ect: East Carnpus Cor� Park Parcei 1 Permit #: B5P98-0003 c�TY o� ��o�t�a� w�Y PERFORMAN+CE/MAtNTENANCE BOND KNaMfV A,L.b PEOPLE BY THESE PRESENTS: We, the undersigned, The Quadr�rtt Carparation, as p�incipai {"Principal"?, and Safeco �nsurance Company of Arnerica, #he undersigned corpor�tion organized arrd existing undar the laws pf the State of Washington, and Isgally doing business in the State of Washington as a �ure#y {"Se�rety"�, are held and firmly bour�d untv the CitY of �ederal Way, a'Washington municipal carparatian t"City") in the psn�l sum of One Hundred Fifty Thausand �nd no/100 Dolla�s {5150,044.00) fc�r the p�yme�t af which they firmly bir�d themselves and iheir legal representatives, successors and assigns, jointly and severally. Tt�is oblig��on is ertte�red into in pursu�nt to the s#atutes of the State of Was#�in�ton and the ordin�nces, regulatians, standards and policies af tl�e City, as now existing or hereafter amended or adapted. The Principad has errtered into an Agreement with the City of even date to construct roadway improvements including raad grinding, full width asphalt overlay, signa! loops, utiEity adjustments, �nd channeli2ation for approximately 15 i 9lineal feet o# South 320th Street from I-5 ta Weyerihaeuser Way. N�W, THEREFQRE, if the Principal shall perform �f! the provisions of the Agreement in the manner and within the time period prescribed by #he City, t�r within such extansians of time as maY be gf�nted under tha Agr�sment. �nd shalt pay atl laborers, mechartics, subcor�traators ��d material men or vwomen, and all persons who shall supply ihe Pr�ncipal or subcon#ractors with provisions �nd supplies for the carrying on of said work, and shaN hold the City, their crffici�l�, agen#s, emptoye�s and �voturrteers harmlass from �ny loss or darnage occasianed to any person or praperty by reason of sny carelessness or negls'gence an the part of the Principal, or a�ny subcantfactor in tbe pe�formance of said work, and shall indemnify and hold t�e City harrnlass from �ny da�age or expense by re�ason o# failure af performance as specified in the Agr�eement, or froran defects appe�ring or develaping �n the material or workmanship provided vr perforrried ur►dsr the Agreement within a peric�d of two {2) years after its final acceptance thereof by the City, then and in the ever�t this obligation shaU be void; but otherwise, it shall be and remain in fiull force and effect. And tt►e Surety, for vslue received, hereby further stipulates snd agree� that no �hange, extension of time, alteration or addition to the terms flf the Agre�ment a�r to the work t�r be performed thereunder or the specifications accampanying the same shall in any way affect its obligatian on this bond, and it does hereby waive notice of any change, extension flf time, aVteratic�ns or additivns ta the terms �f the agreement ar ta the 'Work. The Surety hereby agre�s that modifications and changes may be made in the ter�ns and provisipns of the AgraeRtent without nr�t�ce to Su�'ety, and any such modifications or chang�rs ir�creasing the tatal amount to be paid the Principal shall autamaticatly increase ttre obligation of the Surety an this Per#vrmance Bor�d in � like amount, sueh increase, hawever, �ot to exc+�ed twenty-five percer�t {2596? of the arigina! amount of this bond without the consent af the Surety. Within forty-five (4�) days vf receiving notice that t'he f'�incipal h�s defawited on al! or part o# the terms of the Agr�ement, the Surety shall make a written cammitment to the City that it will ei#her: (a) cure the default itself within a reasonabte time period, or (b} tender to the City, tMe am�rEt necessary for the City to remedy the default, including lega� fees incurred by the Ci#y, ar ° in the event that Surety's �valuatinn af the dispute is not complete or in the event the Surs#y disputes the City's c�aim of default, the Surety shal! notify the City of its finding $nd its intent, if any, to interplead. The Surety sha!! then fulfilt its abliga#ions under this bond, �ecaording to the aption it has elected. Should Surety e{ect aptian t�} to cure the defsult, the penal sum af the Bond shall be reduced ir� an amaunt equal to the costs actuaily incutred by the Surety in curing the default. It the Surety elects aption Cb), then upon corr�pletia� of the necessary work, th� City shall nr�tify the Surety of its actual costs, The City shall return, rnrith+out interest� �n�r vverpayment made by the Surety and the Surety shafl pay to the City atty �ctuai costs which exceed #he City estimate, limited tv the bo�d amount. Should the Surety eMect optior� (c), the Parties shatl first �omplete participation in mediation, described in the beFow paragraph, prior to any interplead action. Ir► the event a dispute should �rise betwsen the Parties to this Bond with respect ta the City's deciara�Cion af default by the Principal, the Parties s�ree to participa#e in at least four hours of inediatian in �ccordance wit3t the mediat�on pracedures of United States Arbitration and hllsdiatior� �"USA&M"). The Parties shali prpportionately share in tt�e cost of the mediation. 7he mediatian shall be administered by the Seattte USA&M office 4300 Two Union Square, 60"! �)nion Street, 5eattle, Washington 98101-2327. The Surety shall n�ot interplsad priar to camplstian of the mediatian. DATED this 23rd day of Au�ust , 1999 . CORPOFiA►TE SEAt. OF F�RINCiPAL; T � P.O. Box 134 Bellevus, WA 98009 425-455-29{}0 -2- Its: SANDY D. McDADE, SEC�',TARY (Titie) CCYRF�ORATE SEAL OF SU�iETY: S�#eco Insuranc� Company vf America Surety . � -L.�',�-�,c�oo�--'' Attorney-i aci tAttach Power of Afitorney} ALLI Name of Person Executing Band PO Box 2999, MS CN- _I-�? Tacs�na. WA 98477-2999 Address �253) 924-5209 Phvne BOND NUMBER: 6001751 GERTiFICATE A,,'�',, TQ CORP�DRATE ,��AL. I hereby certify that I am the (Assistant} Secretary of the Cargoration named as Principal in the within bond; thst SANDY D. McDADE , w`ho signed the said bond on behaif of the Principal, was SECRETARY of the said Corporation; that ! know his or hsr signature thereto is genuine, and that �id band was duly signed, sealed, and attested for a�d in bet�alt o# said Gorpvration by authority of its gt�veming body. ' . Ass�stant SacretarY VICKI A. MIItRICK I�IPPROVED AS TQ FORM: Cary M. Roe, Public Warks Director � La1PRMSYSI DdCU MEN'f'IBSP98_OOA3tRf3W80NT).DO+C -3- EXH�81T B PART�AL RELEASE tJF BQ►ND # Tt`� undersigned hereby �cknowledges that a portion of the conditians of the Agreement and Perfc�rmar�celMaintenance Bond for �ast Campus Corp. Park Parcel 1, BSP98-0443, have been s�tisfied and hereby autharizes the release of an amount equai to One Hundred Five Thousand Dollars {8105,a0a.00}. The remainit�g �unds equaling thirty (30°�) of the cost of the work or 'rmprovements shail be rett�ined by ihe City for � period vf tt+vo t2) years as security for Assignor's performance of all maintenance far the above described project and as a guara�tee ag�inst defective materiats r�r workmanship in the construct�on and mai�tenance af such fmpravemer�ts. UATED this day of , 199 CCTY C3F FEDERAL WAY ay: lName, TitFet .� � FULI RE�EASE OF BOND # The undersigned hereby acknawledges that the two (2) yesr maintenance period has expired, Lhat the work or improvements cove�ed by the Agreement snd Performanee/ Msifrtenancs 6orrd fos East Cacnpus Corp, Park ('arcel 1. BSP98-�003, have beeri cample#ed to the City's satisfactivr� and that the City is not aware of any defect in workmanship ar materials, Accordingly, the undersigned hereby releases the sum a# Forty�-five Thousand t'�ailars {�45,OQO.CKf). DATED this day at , 19,,,�,�„ C17Y QP �EDERAL WAY By: tName, Title} pp�R SAFECO INSURAMCE COMPANY OF AMERICA �� p� GENERAI fNSURANCE COMPANY OF AMERICA i O� ATTORNEY HOME OFFIGE: SAFECA PC ATA SEATTLE,VYASHINGTpN 98785 KN�W ALL BY TH�SE PRESENTS: No. 9678 Thaf SAF£G� INBURANCE COMPANY OF AMERICA a�d GENERaL lNStlRANCE GBMPANY �F ANt�RICA, each a Washington eorporatan, does each hereby appoinf a+s��sRt�rs��s�ari��trsr�ARYA. BAXTE.R;MAR:K G.7`AYLQR;JOHN W. LAMf3D1N:ALLISONJ. NORR:Tacoma Wa�hhingron*wrrs��assss..sa.«sR�s.ss.�.r�►rs�r+ its true and lawtul a�tomey(s)-in-fact, with fuli authority ta �ecute on its behatf fidelity snd surety bonds or undertakings and c�her clocuments of a aimilar charodar issued in tFas course of fts lwsiness, and to binti the respeective campany ther�by. IN WITNESS WHERE4F, SAFECa INSIJRAN+G� CQMF'ANY QF AMEfxfGA artd t3EMERAL tNSURANCE GOMPANX OF AMERIGA ha�re eaCh exeCUted and attes@ed tfiese prese�ts this 16th dayof April , 19'19 + / � d � � ;l/ `��•� � R.A. PIEitSON. 3ECRETARY W. RANDA�L STODOARD, PRESlDENl' CERTIFICATE Extrack hom the By-l.aws o# BAFECd I NSURANGE GC?MPANY O� AM�RICA and af GENERAL INSURANCE CQ�IPANY OF AiN�RICA; "A�ticMe V, Sectfan 13. - FIDELI7Y ANO SURETY BONDS .., the Presiderrt� any Vace President, the Setxetaryr, and any Assistant Vice Preside�►t appointed iex that purpase by the officer in charge of surety operatia�s, shali each have authority to appoint individuals as a�tomeys-in-factor under alher �propriate titles w�h suthority to e�cecx�te on behalf af the c�pany fldel�y and surety bands arni c�ther dacurnents of s�nilar character issued Dy khe company in the course of its business... On any instrument makirrg or evidenang such appoi�tmeM„ tf�e signatures may be affoced by facsimiie, On �ny instrument ca�erring such autharity or on arry bond or ur�denfaking af it►e company, the seal, or a facsimik thee�eo�f, may be impress�d or aftb�ed or in any other manner reprodueetl; prov+ded, however, that the seal shap not be �ecassary tQ the va�diry of arry such instroment ar undertaking." Extraccfrom a Resalut� of tlae Board af Dir�ctors r�f SAFECO lNSURANC� COMPANY OF AMERICA and af t3ENERAi. tNSURANCE Gf#MPANY f}F AMERiCA adopted July 28, 1970. ��On any c�erti�cate executed by the S�cretary or an ass�tant secnatary of the Ctirnparry setting aut, (#) The prov�kNls pf AttiCle V, S�s#lon i3 of the By-Laws� and (� A copy � t#�e Paw+er-cf-atfamey apptmrtment, exec�ted pursuar�t thereto, and (iii} Certifying tfiat said p�rer-of-attamey appointment Es in 1'atl l�orce and ef�ect, the s�nature ot #i�e �rtifying afficer may ba by facslmi�, and the seal of tlye Cc3mpany may be a facsirrsilethereaf." I, R.A.. Pierson. Secretary of SAFECO IN3URA�NCE COWIPANY OF AM�RICA and of GElVERl4L IN3tlRANGE COMPANY OF AMERfGA, do hereby ceRiry that the toregoing extracts of the By-laws and of a Res�oiut�n of the BaaPd of Directvrs of Ehese corparatians, and of e Power of Attomey issued pursuant thereta, are t�ve and caRect, a�d 2hat b4th �e By-taws, tfie Resolutoon and the Rcwv�r af Attomey sre sti� in fu#1 furce and effect. tN WITNESS WHEREC)f, I have hereunto set my hand ansi affaed the facsimile seai of said corporation mis 23rd dar� AuQUSt . 1 AAA _. ��. SEAL . ?t J =�' � % _ _"'� -s��L� R.A. PIERSON, SECRETARY S.�a7aJ5A�� Tt9a � Registe�ed trademark oi SAFECfl Carporadon. 4tt8l99 PI�f CITY OF Federa l Vlla Y MEMORAND UM DaTE: February 16, 2011 To: Skip Priest, Mayor FxoN1: Marwan Salloum, P.E., Deputy Public Works Director RE: South 320th Street Overlay Reimbursement Contract with Quadrant Corporation In connection with Quadrant developing of the East Campus Corporation Park Parcel 1 that abuts the S 320 Street right of way between I-5 Limited Access to Weyerhaeuser Way South, and as a condition of the development/right of way permits for the proposed development of the Property, Quadrant was required to overlay S 320 Street from I-5 Limited Access to Weyerhaeuser Way South. At the request Quadrant staff incorporated the design of S 320 Street overlay as a schedule into the 2011 Asphalt Overlay Project and negotiated a lump sum payment in the amount of $320,000 for the design, construction and construction management of this required work with Quadrant. On February 15, 2011 the City Council authorized the Mayor to execute the S 320 Street Overlay Reimbursement Contract with Quadrant Corporation. Two original copies of the Agreements are being submitted to you for your signature. Please date sign each original document.