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Form OC -10 <br />BECTION 308 FORM OF PAYMENT BOND <br />Date of Contract: June 25,199L <br />Date of Execution: June 25 1991 <br />Name of Principal: <br />(Contractor) <br />P.O. Box 22005, Greensboro,N.C. 27420 <br />Name of Surety: Pennsylvania National Mutual Casualty <br />__ Insurance Company <br />Name of Contracting Body: Orange l County Government Services <br />Building, Billsborough,N.C. <br />Amount of Bond: _ $1,600,000. <br />Project: Orange County Gove <br />Hillsborough, NC <br />lent Services <br />nter <br />KNOW ALL MEN BY THESE PRESENTS, that we, the PRINCIPAL and <br />SURETY above named, are held and firmly bound unto the above named <br />Contracting Body, hereinafter called the Contracting Body, in the <br />penal sum of the amount stated �bove for the payment of which sum <br />well and truly to be made, we ind ourselves, our heirs, execu- <br />tors, administrators, and successors, jointly and severally, <br />firmly by these presents_ <br />THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the <br />principal entered into a certain contract with the Contracting <br />Body identified as shown above and hereto attached: <br />NOW THEREFORE, if the principal shall promptly make payment <br />to all persons supplying labor / material in the prosecution of the <br />work provided for in said contract, and any and all duly autho- <br />rized modifications of said contract that may hereafter be made, <br />notice of which modifications to the surety being hereby waived, <br />then this obligation to be void; otherwise to remain in full force <br />and virtue. <br />IN WITNESS WHEREOF, the ab ve- bounded parties have executed <br />this instrument under their several seals on the date indicated <br />above, the name and corporate seal of each corporate party being <br />hereto affixed and these presents duly signed by its undersigned <br />representative, pursuant to authority of its governing body. <br />Z&7 <br />