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FORM OF PAYMENT BOND <br />Date of Contract: <br />Date of Execution: <br />Name of Principal <br />(Contractor) <br />Name of Surety: <br />Name of Contracting <br />Body: <br />Amount of Bond <br />Project <br />December 13, 2007 <br />December 14, 2007 <br />Brooks Lumber Company, Inc., dba Brooks General Contractors. <br />Great American Insurance Company <br />Orange County, North Carolina <br />One million six hundred sixty thousand nine hundred thirty-three dollars <br />($1,660,933.00) <br />West Ten Soccer Center- Phase II <br />KNOW ALL MEN BY THESE PRESENTS, that we, the principal and surety above <br />named, are held and firmly. bound unto the above named contracting body, hereinafter <br />called. the contracting body, in the penal sum of the amount stated above for the payment <br />of which sum well and truly to be made, we bind ourselves, our heirs, executors, <br />administrators, and successors, jointly and severally, firmly by these presents. <br />THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the principal <br />entered into a certain contract with the contracting body identified as shown above and <br />hereto attached: <br />NOW, THEREFORE, if the principal shall promptly make payment to all persons <br />supplying labor/material in the prosecution of the work provided for in~ said contract, and <br />any and all duly authorized modifications of said contract that. may hereafter be made, <br />notice of which modifications to the surety being hereby waived, then this obligation to be <br />void; otherwise to remain in full force and virtue. <br />IN WITNESS WHEREOF, the above-bounden parties haveexecuted this instrument <br />under their several seals on the date indicated above, the name and corporate seal of each <br />corporate -party being hereto affixed and these. presents duly signed by its undersigned <br />representative, pursuant to authority of its governing body. <br />Executed in four (4) counterparts . <br />