Agenda - 12-06-2010 - 4f - Laserfiche WebLink

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TRAVELERS .~ PUBLtC OFFICIAL BOND (Definite Term) Bond No. 25044872 Travelers Casualty and Surety Company of America One Tower Square 3PB, Hartford, CT 06183 KNOW ALL MEN BY THESE PRESENTS, That we Albert l_. Pendergrass of d00 Severin Street,Chauel Hill North Carolina 27514 as Principal, and Travelers Casualty and Surety Company of America, a corporation duly incorporated under the laws of the State of Connecticut, as Surety, are held and firmly bound unto Orange County, Hillsborough, North Carolina , as Obligee, in the penal sum of Twenty Five Thousand ($25,000) Dollars, lawful money of the United States of America, for the payment of which we11 and truly to be made, said Principal binds himselflherself, his/her heirs, executors, administrators and assigns, and said Surety binds i#self, its successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the said Principal has been elected to the office of Sheriff for a definite term beginning December 01L2010, and ending December 01, 2014, and is required to furnish a bond for the faithful performance of the duties of the said office or position. NOW, THEREFORE THE CONDITION OF TN1S OBLIGATION is such that if the above bounden Principal shall (except as hereinafter provided} faithfully perform the duties of his/her said office or position during the said term, and shall pay over to the persons authorized by law to receive the same all moneys that may come into his/her hands during the said term without fraud or delay, and at the expiration of said term, or in case of his/her resignation or removal from office, shalt turn over to his/her successor all records and property which have come into his/her hands, then this obligation to be null and void; otherwise to remain in full force and effect. PROVIDED, HOWEVER, that the above named Surety shall not be liable hereunder far any loss of any public fund resulting from the insolvency of any bank or banks in which said funds are deposited; and, if this provision shall be held void, this entire bond shall be void. AND PROVIDED FURTHER, that the Surety may cancel bond at any time during the said term by giving to the obligee a written notice of its desire so to cancel and at the expiration of thirty (30) days from the receipt of such notice by the obligee the surety shall be completely released as to all liability thereafter accruing. If this provision sha11 be held void, this entire bond shall be void. SEALED and dated this November 30, 2010 i~ By: '~~~~/ fitness nncipal By: tt ney-in- a 2 S-2232 (08-99)