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<br /> x UNITED STATES EIDELI -1, ' UANTY COMPANY `
<br /> . (A Stock 5,nuflinf)
<br /> PERFORMANCE BOND
<br /> Approved by The American Institute of Architects
<br /> A.L A.Document No.A-311(February 1970 Edition)
<br /> BOND NUMBER _.
<br /> KNOW ALL MEN BY THESE PRESENTS:
<br /> That -Industrial Maintenance & Supply. Tilo
<br /> 1
<br /> P. 0. Box 513 ,• w
<br /> e.... ive xa N S?4t...SsatO.1. n0 2.725.8 as Principal,
<br /> hereinafter called Contractor, and UNITED STATES FIDELITY AND GUARANTY COMPANY, a corporation organized and existing under the laws _
<br /> of the State of Maryland, Baltimore, Maryland, as Surety, hereinafter called Surety,are held and firmly bound unto County of
<br /> 44
<br /> - -1 Orange, North Carolina, Orange County Courthouse, 106 E. Margaret Lane, `ry.
<br /> Hillsborough, North Carolina
<br /> as Obligee, hereinafter called Owner, in the amount of Thirteen Thousand Dollars and no/100 MA
<br /> P1-4x-+'-' • Dollars ($ 13,000.00 )
<br /> for the payment whereof Contractor and Surety bind themselves, their heirs,-executors, administrators, successors and assigns, jointly and
<br /> severally, firmly by these presents.- ire •
<br /> EI •
<br /> .'' P. WHEREAS., Contractor has by written agreement dated March 20 1985,entered into a contract'with Owner for
<br /> Plumbing Renovations to Orange County Historic Courthouse, Hillsborough, N.C.
<br /> . i.r...1:1...-77
<br /> in accordance with drawings and specifications prepared by_Roman Kolidiix James M. Webb, .201 E. Rosemary
<br /> (Here insert full name,title and address)
<br /> ••Street•••••Chopel•-Hi•1•l, •Ncrr•t•h •Cavold:t1•a--- -72.7•& , which contract is by reference made a part
<br /> hereof,and is hereinater referred to as the Contract. ._ .
<br /> , NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform -.
<br /> 4 said Contract,then this obligation shall be null and void;otherwise it shall remain in full force and effect.
<br /> The Surety hereby waives notice of any alteration or extension of time made by the Owner. "
<br /> • t:
<br /> :< Whenever Contractor shall be,and declared by Owner to be in default under the Contract,the Owner having performed Owner's obligations g
<br /> �s thereunder,the Surety may promptly remedy the default,or shall promptly
<br /> =4 (1) Complete the Contract in accordance with its terms and conditions,or
<br /> (2) bid elects, upon determinationth byththe Owner andd the and upon the
<br /> arrange for a contract between such bidder and Owner, and make available as Work progresses (even though there should be a default or a
<br /> succession of defaults under the contract or contracts of completion arranged under this paragraph) sufficient funds to pay the cost of
<br /> completion less the balance of the contract price; but not exceeding, including other costs and damages for which the Surety may be liable . . t
<br /> hereunder, the amount set forth in the first paragraph hereof. The term "balance of the contract price," as used in this paragraph, shall'•'- i i
<br /> s .� ;,
<br /> r;,.fi; mean the total amount payable by Owner to Contractor under the Contract and any amendments thereto, less the amount properly paid by •ES. '
<br /> Owner to Contractor. L.
<br /> .
<br /> Any suit under this bond must be instituted before the expiration of two (2) years from the date on which final payment under the''
<br /> 6 Contract falls due. --
<br /> IA;
<br /> Pli No right of action shall accrue on this bond to or for the use of any person or corporation other than the Owner named,herein or
<br /> ......
<br /> 3
<br /> the heirs,executors,administrators or successors of the Owner.
<br /> ' Signed and sealed this 20th day of Maxth r�Qg
<br /> .:
<br /> F In the presence of Indus tri-1 Ma' =trance & Sup y.'T•p .-
<br /> (witness) ••^Princtpui 1 -.
<br /> UNITED STATE FIDELITY AND GUARANTY•BOMPANY -
<br /> (witness) By ..�9 1.-::,�T -ee, .G;�. s - •(Seall •
<br /> ~'-: Alan Hall Cro h A • ,- -' r- _
<br /> b�.a";i::�•..f _1.� .N:. +ntli' r. _. 5v .trig s Si1,' t:;^;.t._j [o•1^l'
<br /> •,N �4�c''4 `��.i 1 1� �,Fl�i , it?:�,Y;,.. ;tF.<iiii� x.3... +i ••t.,.,� :iSi?i'si .,F`�:r: �t?^.,i�. cr3S.%
<br /> ..iea.ci_.f.6.n�..,lF�-u .f7 (i�\.rl�..,.,tL�L;,, vr,W!f:.�.,i!{.,Fri::4zn.r.+....�titk4V�ltF:...,,,`�+?fiy:L,�::•�+,?��•iJ^§'at�7..�':e'`•.53 '.t.•.3�:.+: 1t4�ifiF• .^,�, ;��,,f";�'S)�ti�il)E:;if�.rrfli`Ii�,��„ilfin::`1'a;,.
<br /> Contract 211 (2-70)
<br />
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