180-26 - Exhibit B. AJ Contractors_compressed.pdf

NEW JERSEY STATUTORY FORM OF LABOR AND MATERIALS PAYMENT BOND REVERS EY STATUTORY FORM OF LABOR AND MATERIALS PAYMENT BOND. KNOW ALL PERSONS BY THESE PRESENTS, that we, the undersigned as Principal and as Surely, are hereby held and firmly bound unto the Township of West Oranae 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 the 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 promptly make payment to all persons, firms, subcontractors and corporations furnishing materials for or performing labor in the prosecution of the work provided for in such Contract, and any authorized extension or modification thereof, including all amounts due for material, lubricants, oil, gasoline, repairs on machinery, equipment and tools, consumed or used in connection with such work, and all insurance premiums on said work, and for all labor performed in such work, whether by subcontractors or otherwise, we agreeing and assenting that this undertaking shall be for the benefit of 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 any way affect the obligations of said surety on its bond. Principal Surety (seal) (acknowledgments) NOTE: The attorney-in-fact signing the Labor and Materials Payment Bond on behalf of the surety should attach a valid power of attorney to the Labor and Materials Payment Bond. P-29