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UNITED STATES IFIIIOIEILI N � UARANTY COMPANY
<br />(A ttoc Co pany)
<br />PERFORMANCE BOND
<br />Approved by The American Institute of Architects
<br />A. I. A. Document No. A•311 (February 1970 Edition)
<br />BOND NUMBER .... 65- 012010523-90-9
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That THE.. RESOLUTE BUILDING COMPANY, A CORPORATION ORGANIZED AND EXISTING UNDER
<br />THE LAWS OF THE STATE OF NORTH CAROLINA as Principal,
<br />................ .......... ....................................... . .... .... ......................... ---- - ---------- ............................ ...............
<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 ........... ...............................
<br />COUNTY OF ORANGE
<br />........................ ............................... ........... ............................................................
<br />as Obligee, hereinafter called Owner, in the amount of ........... ONE.. HUNDRID NINETY THOUSAND ONE HUNDRED
<br />NINETY FIVE AND 00/ 100------ -- --- ----------------- ---- -- 190 195.00
<br />........ ....I .......................... .... ............- ........ - •.................. Dollars ($ ... .........?, .................. .....
<br />......),
<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.
<br />WHEREAS„ Contractor has by written agreement dated ......JUNE ...,,.., 2Fith ............... 1990 entered into a contract with Owner for
<br />ADDITIONS TO ORANGE COUNTY ANIMAL SIB -
<br />in accordance with drawings and specifications prepared by ...GDORGE M. SMART ARCHITECTS, INC.
<br />.... ........... er..........n,am.... _
<br />.......................
<br />(Here insert full nom ®, fitla and address)'••••��������������' ••••'•••••••'•••'
<br />1.1.3 .N BOY-LAN AVE. RALEiGH,_N.C._ 27503 which contract is by reference made a part
<br />...... ............................... .. ........... I....................
<br />hereof, and is hereinafter referred to as the Contract.
<br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform
<br />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 />Whenever Contractor shall be, and declared by Owner to be in default under the Contract, the Owner having performed Owner's obligations
<br />thereunder, the Surety may promptly remedy the default, or shall promptly
<br />(1) Complete the Contract in accordance with its terms and conditions, or
<br />(2) Obtain a bid or bids for completing the Contract in accordance with its terms and conditions, and upon determination by Surety of the low-
<br />est responsible bidder, or, if the Owner elects, upon determination by the Owner and the Surety jointly of the lowest responsible bidder,
<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
<br />hereunder, the amount set forth in the first paragraph hereof. The term "balance of the contract price," as used in this paragraph, shall
<br />mean the total amount payable by Owner to Contractor under the Contract and any amendments thereto, less the amount properly paid by
<br />Owner to Contractor.
<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 />Contract falls due.
<br />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 />the heirs, executors, administrators or successors of the Owner.
<br />Signed and sealed this .. . .......... 26th .... - ............day of. ........ - ........................ a_-
<br />I esence of:
<br />fitness)
<br />• (Witness)
<br />Contract 2 11 (2.70)
<br />The.... ES0LUTF,,.,Rui1ding....
<br />By D...... ..a. ............ qqnn�... pp .....�..1 .. ti. ....P� ea -- _
<br />STN'S F76EifTYIPND "GI�RAN qsi" .
<br />..
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