Orange County NC Website
Browse       Search
Form OC -10 <br />SECTION 308 FORM OF PAYMENT BOND <br />Date of Contract: September 19, 2007 <br />Date of Execution: September 19, 2007 <br />Name of Principal: Resolute Building Company <br />(Contractor) 200 Cloister Court, Chanel 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 County <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 />0 Project: Central Orange Senior Center & Sportsplex Renovation Hillsborougli. 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 promptly make payment to all persons supplying <br />labor /material in the prosecution of the work provided for in said contract, and any and all duly <br />authorized modifications of said contract that may hereafter be made, notice of which <br />modifications to the surety being hereby waived, then this obligation to be void; otherwise to <br />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 />• Payment Bond <br />Page 1 of 2 <br />