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C7 <br />Form OC -13 <br />SECTION 307 FORM OF PERFORMANCE BOND <br />Date of Contract: September 19, 2007 <br />Date of Execution: September 19, 2007 <br />Bond No. 104956529 <br />Name of Principal: Resolute Building Company <br />(Contractor) 200 Cloister Court Chagel Hill, NC 27514 <br />Name of Surety: Travelers Casualty and Surety Company of America <br />1500 Market Street, Suite 2900, Philadelphia, PA 19102 <br />Name of Contracting Orange _Cooty <br />Body: PO Box 8181, Hillsborough, NC 27278 <br />Amount of Bond: Five Million Two Hundred Fifty Three Thousand Three Hundred Thirty Four and 00 /100 Dollars <br />($5,253,334.00) <br />IsProject: Central Orange Senior Center & Sportsplex Renovation, HillsborougjL NC <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 called the <br />Contracting Body, in the penal sum of the amount stated above for the payment of which sum <br />well and truly to be made, we bind, ourselves, our heirs, executors, administrators, and <br />successors, jointly and severally, firmly by these presents. <br />THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the principal entered into a <br />certain contract with the Contracting Body, identified as shown above and hereto attached: <br />NOW THEREFORE, if the principal shall well and truly perform and fulfill all the undertaking, <br />covenants, terms, conditions and agreements of said contract during the original term of said <br />contract and any extensions thereof that may be granted by the contracting body, with or without <br />notice to the surety, and during the life of any guaranty required under the contract, and shall <br />well and truly perform and fulfill all the undertakings, covenants, terms, conditions and <br />agreements of any and all duly modifications to the surety being hereby waived, then, this <br />obligations to be void; otherwise to remain in full force and virtue. <br />IN WITNESS WHEREOF, the above bounden parties have executed this instrument under their <br />several seals on the date indicated above the name and corporate seal of each corporate party <br />being hereto affixed and these presents duly signed by its undersigned representative, pursuant to <br />authority of its governing body. <br />Performance Bond <br />Page 1 of 2 <br />