180-26 - Exhibit B. AJ Contractors_compressed.pdf

PERFORMANCE & PAYMENT BOND NOTICE TO PROCEED NEW JERSEY STATUTORY FORM OF PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, as Principal and. as Sureties, are hereby held and firmly bound unto the Township of West Orange in the penal sum of. Dollars, for the payment of which will and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors and assigns. Signed this day of 20 The Condition of the above obligation is such that whereas the above named principal did on the day of 20 enter into a contract with Township of West Orange which said contract is made a part of this bond the same as though set forth herein: NOW, if the said principal shall well and faithfully do and perform the things agreed by said principal to be done and performed according to the terms of said Contract, and shall pay all lawful claims of subcontractors, materialmen, laborers, persons, firms or corporations for labor. performed or materials, provisions, provender or other supplies or teams, fuels, oils, implements or machinery furnished, used or consumed in the carrying forward, performing or completing of said contract, we agreeing and assenting that this undertaking shall be for the benefit of any subcontractor, materialman, laborer, person, firm or corporation having a just claim, as well as for the obligee herein; then this obligation shall be void; otherwise the same shall remain in full force and effect; it being expressly understood and agreed that the liability of the surety for any and all claims hereunder shall in no event exceed the penal amount of this obligation as herein stated. The said surety hereby stipulates and agrees that no modifications, omissions or additions in or to the terms of said Contract or in or to the plans and specifications therefore shall in anywise affect the obligation of said surety on its bond. Recovery of any claimant under the bond shall be subject to the conditions and provisions of NUSA 2A:44-143 et. seq., to the same extent as if such conditions and provisions were fully incorporated in the form set forth herein. P-27