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<br />11/18/2008 18:04 <br /> <br />2816482462 <br /> <br />BAYWAY HOMES <br /> <br />PAGE 14/19 <br /> <br />Qo') ru ;) td <br /> <br />PERFORMANce BOND <br /> <br />STATE OF TEXAS ~ <br />COUNTY or: HARRIS ~ <br /> <br />BOnd No. 810982 <br /> <br />KNOW ALL MEN BY THESE PRESENTS: That Bayway Homes, Inc. Of the <br />City of Friendswood County of Galveston I and State of Texas; , as <br />prinoipal, an~!!alrQfS J~m'1!!I.f9.mp.!..I1Y.... authori~d LInder U'Ie laws of the State of <br />Texas to act as surely on bonds f'Or ptincipals, ere l..eld and firmly bound unto <br />The City of La Porte (Owner), in the penal sum of <br />Nine1't:!i.9.ht !bg.!!..~ and no(lP9..m_-~~-.::::::::=..: dollars ($ 98,000.00 ) for the <br />payment whereof, the said Principal and Surely bind themselves, and their heirs, <br />administrators, e){EJCuturs, SLlCCessors and assigns, jointly and severally, by t1~ese <br />presents: <br /> <br />WHEREAS, the Principal has entered Into a certain written contract with the <br />Owner, dated the 17th ....., day of December , 2007, to whioh oontmct Is hereby <br />refelTed to and made apart hereof as fully and to 'the same extent as rr copied at <br />length hereh <br /> <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that If <br />the gaid Principal shall faithfully perform said Contraet and shall In all re$peots <br />duly and fafthfully observe and parfomt all and s/ngula( the covenants, conditions <br />and agreements in and by said confract agreed and covenanted by the Prlnolpal <br />to be observed and performed, end according to tl1e true intent and meaning of <br />:said CQ"b'"act and the Plans and SpecificatiOns hereto annexed, then this <br />obligation shall "e void; otherwise to remain in full force and effact; <br /> <br />"PROVIDED, HOWEVER, that this bond Is executed pUJ'S;uant to the pro1As;ons <br />ofVemon's T-exasCodes Annotated. Texas Government Ctlde,Cnavter 2253, as <br />amended and all liabilities on this bond shall be determIned In accordance with <br />the provisions of said Artlc.le to the same extent as if it were oopied ~ length <br />herein. n <br /> <br />Surety, for value received, stipulates and agrees that no change. el<tension of <br />time, alteration or addition to the terms of the Contract. or to the work performed <br />thereunder, or the plans, specifications, or drawings acoompanying the same, <br />shall in any way affect its obligation on this bond, and it does hereby waive notice <br />of any such change, extension of time, alteratf(;)n or addition to the telTTlS of the <br />contract. or to thQ work to be performed there under. <br /> <br />Per10rmWlce Bond 1 gf 2 <br />