2018-053-E AMS - HM Kern Passmore Addition

Browse Search

DocuSign Envelope ID: 313DA256 -1EDE- 4396- A716- 4C53B809027E Date of Contract: Date of Execution: Name of Principal (Contractor) Name of Surety: Name of Contracting Body: Amount of Bond: Project Bond No. SU1140676 FORM OF PAYMENT BOND January 23, 2018 - - — - February 7, 2018 H.M. Kern Corporation Arch Insurance Company Orange County, a political subdivision of the State of North Carolina Four Hundred Ninety -pour Thousand Eight Hundred Twenty and No Cents ($494,820.00) _ Passmore Center Expansion Construction KNOW ALL MEN BY THESE PRESENTS, that we, the principal and surety above named, are held and firmly bound unto the above named contracting body, hereinafter called the contracting body, in the penal sum of the amount stated above for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION I5 SUCH, that whereas the principal entered into a certain contract with the contracting body identified as shown above and hereto attached: NOW, THEREFORE, if the principal shall promptly make payment to all persons supplying labor /material in the prosecution of the work provided for in said contract, and any and all duly authorized modifications of said contract that may hereafter be made, notice of which modifications to the surety being hereby waived, then this obligation to be void; otherwise to remain in full force and virtue. IN WITNESS WHEREOF, the above - bounden parties have executed this instrument under their several seals on the date indicated above, the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative, pursuant to authority of its governing body. Executed in Two (2) counterparts.