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J <br />Y <br />Form OC-10 <br />SECTION 308 FORM OF PAYMENT BOND <br />Date of Contract: December 11, 2007 <br />Date of Execution: December 11, 2007 <br />Name of Principal: Resolute Building Company <br />(Contractor) 200 Cloister Court, Chapel Hill. NC 27514 <br />Name of Surety: Travelers Casualty and Suret~pany of America <br />1500 Market Street, Suite 2900, Philadelphia. PA 19102 <br />Name of Contracting Oranee County <br />Body: PO Box 8181. Hillsborough, NC 27278 <br />Amount of Bond: One Million Two Hundred Thirty Two Thousand Two Hundred Fifty Seven and 00/100 Dollars <br />($1.232,257.00) <br />Project: Oran a Coun Emergency Management Services Facility, Hillsborough, 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 />