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<br />11/18/2008 18:04 <br /> <br />2815482452 <br /> <br />BAYWAY HOMES <br /> <br />PAYMENT BOND <br /> <br />STATE OF TEXAS <br /> <br />~ <br /> <br />. Bohd No. 810981 <br /> <br />COUN1Y OF HARRIS 9 <br /> <br />KNOW ALL MEN BY THESE PRESENTS: That Ba~ay Hom~.ll"c:__._ of the <br />City of-P!.I~~Q.9.d.-_ County of GlJlveston , and State of , as <br />principal, andJnsuro!,!! I'l~~n!!Y,fomJ!a'!Y... authorized under the raws of the state of <br />Texas to aot as surety on bonds for ptlncipar~, are held and flrmly bound unto <br />The City of La Porte (Owner), in the penal sum of <br />_Ni!!..ety.!~-'!!..TI!.ousartd arid nol~O!:=::=:.==::=---., dollars (!98tOOO.OO ) for thE:! <br />payment whereof, the said Prinoipal and Surety bind themselvt:$, and their heirs, <br />administrators, executors, successors and assigns, jointly and severatry, by these <br />presents : <br /> <br />WHEREAS, the Principal has anterad Into a certaIn writt~n contract with the <br />Owner, dated the 17th day of Dc!t:e.mb~' -.0' 2007, to which contract is <br />hel'eby referred to and made apart hereof as fully and to too sG\fT'Ie extent as if <br />copied at length herein. <br /> <br />NOW. TI-f~REFORE, THE CONDITION OF THIS OBUGATION IS SUCH, that if <br />the said Principal shall pay all claimants supplying labor and material to him or a <br />subcontractor in the prosecution of the work provided for In said eomract. then, <br />this obligation shall be voId; otherwise to ra~ln in full force and effect; <br /> <br />"PROVIDED, HOWEVEH, that this bond is ex~cuted pursuant to the prO\tisions <br />of Vemon's Texas Codes Annotated, Texas Government Code. Chaoter 2Z531 las <br />amended and all liabilities on this btJnCl shall be determineld in aocordance With <br />the provisions of said Article to. lhe same extent as If it were aopied at length <br />herein .~. <br /> <br />Surety. for value receiVed, stipuleltes and agrees that no chaJ,ge, exten$ion of <br />time, alteration or addition to the terms of the Contract, or to the work perfonned <br />thereunder, or the plans. specifications, or drawings accompanying the same, <br />shall in such ohange extension of time, :alteration or additlon to the terms of tne <br />contract, or to the work to be performed thereur1der. <br /> <br />Payment Bon~ , Q12 <br /> <br />PAGE 113/19 <br />