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FORM OF BID BOND <br />KNOW ALL MEN BY THESE PRESENTS THAT <br />Ike's Construction. Inc. <br />as <br />principal, and Philadelphia Indemnity Insurance Company , as surety, who is <br />duly licensed to act as surety in North Carolina, are held and firmly bound unto <br />Cabarrus County as obligee, <br />in the penal sum of Five Percent of Amount Bid 5% DOLLARS, lawful money of <br />the United States of America, for the payment of which, well and truly to be made, we bind <br />ourselves, our heirs, executors, administrators, successors and assigns, jointly and <br />severally, firmly by these presents. <br />Signed, sealed and dated this 31st day of <br />October 2024 <br />WHEREAS, the said principal is herewith submitting proposal for <br />Child Support Services Alterations _ <br />and the principal desires to file this bid bond in lieu of making the cash deposit as required <br />by G.S. 143-129. <br />NOW, THEREFORE, THE CONDITION OF THE ABOVE OBLIGATION is such, that <br />if the principal shall be awarded the contract for which the bid is submitted and shall <br />execute the contract and give bond for the faithful performance thereof within ten days after <br />the award of same to the principal, then this obligation shall be null and void; but if the <br />principal fails to so execute such contract and give performance bond as required by G.S. <br />143-129, the surety shall, upon demand, forthwith pay to the obligee the amount set forth in <br />the first paragraph hereof. Provided further, that the bid may be withdrawn as provided by <br />G.S. 143-129.1 <br />,'`•,Q�siRuc;T- <br />Ike's Construction, Inc. <br />By: <br />1979 <br />co <br />- �l,tcssm (S,�L� <br />Philadelphia Indemnity Insurance Compai~yo {$�=�,• <br />F L <br />Erin Brooks, Attorney -in -Fact <br />Surely Phone No. 610-206-7836 " r4Y'' <br />FORM OF BID BOND <br />Page 249 <br />