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i c�,8 <br />TOWER/STRUCTURE REMOVAL BOND <br />Bond Number: 32 BD 017 -01 <br />KNOW ALL MEN BY THESE PRESENTS, that we Piedmont Electric Membership <br />Corporation, Inc. as Principal, and Federated Rural Electric Insurance Exchange, a corporation <br />duly organized under the laws of the State of Kansas, as Surety are held and firmly bound unto <br />Orange County, NC as Obligee, in the sum of Sixteen Thousand Five Hundred and 00 /100 <br />Dollars ($16,500) lawful money of the United States, for payment of which, well and truly to be <br />made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and <br />severally, firmly as these presents, the liability of the Surety being limited to the penal sum of <br />this bond regardless of the number of years the bond is in effect. <br />WHEREAS, the Orange County permit and/or ordinance requires the submission of a bond <br />guaranteeing the maintenance replacement, removal or relocation of said tower or structure <br />located at 2500 NC 86 South, Orange County, NC. <br />NOW, THEREFORE, the condition of this obligation is such that if the above bounden <br />Principal shall perform in accordance with the aforesaid permit/ordinance or agreement and shall <br />indemnify the Obligee against all loss caused by Principal's breach of such ordinance /permit or <br />agreement relating to maintenance, replacement, removal or relocations of a tower or structure, <br />then this obligation shall be void, otherwise to remain in full force and effect unless cancelled as <br />set forth below. <br />"THIS BOND may be cancelled by Surety by giving thirty (30) days written notice to the Obligee <br />by certified mail. Such cancellation shall not affect any liability the Surety may have incurred <br />under this bond prior to the effective date of the termination. <br />THIS BOND signed, sealed, dated on the 10th day of October, 2006. <br />Piedmont Electric Membership Corporation, Inc. <br />By: <br />Federated Rural Electric Insurance Exchange <br />By: <br />Thomas Gitsc 'er, Attorney -In -Fact <br />This bond is continuous and remains in full force and effect until cancelled according to the <br />terms herein stated above; however, for verification purposes you may contact the insurance <br />broker: Federated Rural Electric Insurance Exchange, 11875 W. 85th Street, Lenexa, KS 66214. <br />Changes required in the bond can be accomplished by a change rider issued by the surety. <br />