NCS000515_Stormwater Maintenance Security_20200921

Bond #
14111011
Town of China Grove North Carolina
Phase II Storm Water Post -Construction
Storm Water Ordinance
KNOW ALL MEN BY THESE PRESENTS;
That we, as Principal, and
a Corporation with principal office at
as Surety, are held and firmly bound unto
the Town of China Grove, North Carolina in the sum of
for the payment of said sum, well and truly to be made, we bind
ourselves, our heirs, executors, successors and assigns, jointly and severally, firmly by these
presents.
The condition of this obligation is such that,
WHEREAS, the principal has applied for or received a permit from the Town of China Grove
requiring the installation or maintenance of certain stormwater control measures relating to a
project known as located
at and,
WHEREAS, issuance of said permit by the Town of China Grove is governed by The Town of
China Grove, Phase II Stormwater Ordinance as amended;
WHEREAS, under the terms of said Phase II Stormwater Ordinance, a surety bond is acceptable
as performance security for the installation and/or maintenance of said stormwater control
measures;
NOW, THEREFORE, if the principal shall fully comply with the requirements outlined in said
Phase II Stormwater Ordinances, then this obligation shall be null and void, otherwise to remain
in full force and effect.
THIS BOND is executed by the Surety upon the express condition that the Surety may, if it so
elect, cancel this bond by giving thirty (30) days notice in writing to The Town of China Grove,
333 North Main Street, China Grove, NC 28023. Provided, however, such notice shall not
affect any liability arising prior to the effective date of cancellation of this surety bond.

IN NO EVENT, shall the aggregate liability of the Surety for any and all claims under this bond,
regardless of the number of years the bond remains in force, exceed the penal sum of the bond.
IN WITNESS WHEREOF, the Principal and Surety hereto have executed this surety bond this
day of , 20.
Witness
Witness
Name:
Title:
By:
Name:
Title:
Principal
Surety