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PERFORMANCE BOND <br /> KNOW ALL MEN BY THESE PRESENT: that <br /> (Name of Contractor) <br /> (Address of Contractor) <br /> a hereinafter called Principal,and <br /> (Name of Surety)' <br /> (Address of Surety) <br /> hereinafter called Surety, are held and firmly bound unto ORANGE COUNTY, 200 South Cameron Street, <br /> Hillsborough,North Carolina,27278,hereinafter called OWNER,in the penal sum of <br /> Dollars($ } in lawful <br /> money of the United States,for the Payment of which sum.well and truly to be made,we bind ourselves,successors, <br /> and assigns,jointly and severally,firmly by these presents. <br /> THE CONDITION OF THIS OBLIGATION is such that whereas,the Principal entered into-a certain contract with <br /> the OWNER, dated the day of 20 , ,a copy <br /> of which is hereto attached and made a part hereof for the construction of <br /> NOW THEREFORE, if the Principal shall well, truly, and faithfully perform its duties, all the undertakings, <br /> covenants, terms, conditions, and agreements of said contract during the original term thereof, and any extensions <br /> thereof which may be granted by the OWNER,with or without notice to the Surety and during the one year guaranty <br /> period, and if he shall satisfy all claims and demands incurred under such contract,and shall fully indemnify and <br /> save harmless the OWNER from all costs and damages which it may suffer by reason of failure to do so,and shall <br /> reimburse and repay the OWNER all outlay and expense which the OWNER may incur in making good any default, <br /> then this obligation shall be void,otherwise to remain in full force and effect. <br /> PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, <br /> extension of time,alteration or addition to the terms of the contract or to WORK to be performed thereunder or the <br /> Specifications accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby <br /> waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the <br /> WORK or to the SPECIFICATIONS. <br /> PROVIDER, FURTHER,that no final settlement between the OWNER and the CONTRACTOR shall abridge the <br /> right of any beneficiary hereunder,whose claim may be unsatisfied. <br /> 117 <br />