McClure Estimating Co. v. H. G. Reynolds Co.

TIMMONS-GOODSON, Judge.

On 19 May 1995, H. G. Reynolds Company, Inc. (“defendant”) entered into a contract with the State of North Carolina through its political subdivision, the Warren County School System, for the construction of additions at three Warren County schools (“the project”). Defendant was the general contractor on the project. On 30 May 1995, defendant entered into a Labor and Material Payment Bond Agreement in the amount of $3,303,600.00 for which defendant was principal, codefendant Safeco Insurance Company of America (“Safeco”) was surety and the Warren County Board of…