Orange County NC Website
16 Definitions individual or entity that has rightfully asserted a claim <br /> 16.1 Claim. A written statement by the Claimant under an applicable mechanic's lien or similar statute <br /> including at a minimum: against the real property upon which the Project is <br /> .1 the name of the Claimant; located. The intent of this Bond shall be to include <br /> .2 the name of the person for whom the labor without limitation in the terms "labor, materials or <br /> was done, or materials or equipment equipment" that part of water, gas, power, light, heat, <br /> furnished; oil, gasoline, telephone service or rental equipment <br /> .3 a copy of the agreement or purchase order used in the Construction Contract, architectural and <br /> pursuant to which labor, materials or engineering services required for performance of the <br /> equipment was furnished for use in the work of the Contractor and the Contractor's <br /> performance of the Construction Contract; subcontractors, and all other items for which a <br /> .4 a brief description of the labor, materials or mechanic's lien may be asserted in the jurisdiction <br /> equipment furnished; where the labor, materials or equipment were <br /> .5 the date on which the Claimant fast performed furnished. <br /> labor or last furnished materials or equipment 16.3 Construction Contract.The agreement between <br /> for use in the performance of the Construction the Owner and Contractor identified on the cover page, <br /> Contract; including all Contract Documents and all changes <br /> .6 the total amount earned by the Claimant for made to the agreement and the Contract Documents. <br /> labor, materials or equipment furnished as of 16.4 Owner Default.Failure of the Owner,which has <br /> the date t the Claim; not been remedied or waived,to pay the Contractor as <br /> 7 the total amount of previous payments required under the Construction Contract or to perform <br /> received l the Claimant;and and complete or comply with the other material terms of <br /> the Construction Contract. <br /> .8 the total amount due and unpaid to the 16.5 Contract Documents. All the documents that <br /> Claimant for labor, materials or equipment comprise the agreement between the Owner and <br /> furnished as of the date of the Claim. Contractor. <br /> 16.2 Claimant. An individual or entity having a direct 17 If this Bond is issued for an agreement between a <br /> contract with the Contractor or with a subcontractor of Contractor and subcontractor, the term Contractor in this <br /> the Contractor to furnish labor, materials or equipment Bond shall be deemed to be Subcontractor and the term <br /> for use in the performance of the Construction Owner shall be deemed to be Contractor. <br /> Contract. The term Claimant also includes any 18 Modifications to this bond are as follows: <br /> (Space is provided below for additional signatures of added parties,other than those appearing on the cover page.) <br /> CONTRACTOR AS PRINCIPAL SURETY <br /> Company: (Corporate Seal) Company: (Corporate Seal) <br /> Signature: Signature: <br /> Name and Title: Name and Title: <br /> Address: Address: <br /> The Company executing this bond vouches that this document conforms to American institute of Architects Document A312-2010 Edition <br /> GAIC Pymt A312(10/10) 3 <br />