§ 44A-33. Form.
§44A‑33. Form.
(a) A performance bondform containing the following provisions shall comply with this Article: thedate the bond is executed; the name of the principal; the name of the surety;the name of the contracting body; the amount of the bond; the contract number;and the following conditions:
"KNOW ALL MEN BY THESEPRESENTS, That we, the PRINCIPAL AND SURETY above named, are held and firmlybound unto the above named Contracting Body, hereinafter called the ContractingBody, in the penal sum of the amount stated above for the payment of which sumwell and truly to be made, we bind ourselves, our heirs, executors,administrators, and successors, jointly and severally, firmly by thesepresents.
"THE CONDITION OF THISOBLIGATION IS SUCH, that whereas the Principal entered into a certain contractwith the Contracting Body, numbered as shown above and hereto attached:
"NOW THEREFORE, if thePrincipal shall well and truly perform and fulfill all the undertakings,covenants, terms, conditions, and agreements of said contract during theoriginal term of said contract and any extensions thereof that may be grantedby the Contracting Body, with or without notice to the Surety, and during thelife of any guaranty required under the contract, and shall also well and trulyperform and fulfill all the undertakings, covenants, terms, conditions, andagreements of any and all duly authorized modifications of said contract thatmay hereafter be made, notice of which modifications to the Surety being herebywaived, then, this obligation to be void; otherwise to remain in full force andvirtue.
"IN WITNESS WHEREOF, theabove‑bounden parties have executed this instrument under their severalseals on the date indicated above, the name and corporate seal of eachcorporate party being hereto affixed and these presents duly signed by itsundersigned representative, pursuant to authority of its governing body."
Appropriate places forexecution by the surety and principal shall be provided.
(b) A payment bond formcontaining the following provisions shall comply with this Article: the datethe bond is executed; the name of the principal; the name of the surety; thename of the contracting body; the contract number; and the followingconditions:
"KNOW ALL MEN BY THESEPRESENTS, That we, the PRINCIPAL and SURETY above named, are held and firmlybound unto the above named Contracting Body, hereinafter called the ContractingBody, in the penal sum of the amount stated above, for the payment of which sumwell and truly to be made, we bind ourselves, our heirs, executors,administrators, and successors, jointly and severally, firmly by thesepresents.
"THE CONDITION OF THISOBLIGATION IS SUCH, that whereas the Principal entered into a certain contractwith the Contracting Body, numbered as shown above and hereto attached;
"NOW THEREFORE, if thePrincipal shall promptly make payment to all persons supplying labor andmaterial in the prosecution of the work provided for in said contract, and anyand all duly authorized modifications of said contract that may hereafter bemade, notice of which modifications to the Surety being hereby waived, thenthis obligation to be void; otherwise to remain in full force and virtue.
"IN WITNESS WHEREOF, theabove‑bounden parties have executed this instrument under their severalseals on the date indicated above, the name and corporate seal of eachcorporate party being hereto affixed and these presents duly signed by itsundersigned representative, pursuant to authority of its governing body."
Appropriate places forexecution by the surety and principal shall be provided. (1973,c. 1194, s. 1.)