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<br />PAYMENT BOND <br /> <br />STATE OF TEXAS S <br />COUNTY OF HARRIS S <br /> <br />KNOW ALL MEN BY THESE PRESENTS: That of the <br />City of County of , and State of , as <br />principal, and authorized under the laws of the State of <br />Texas to act as surety on bonds for principals, are held and firmly bound unto <br />The City of La Porte (Owner), in the penal sum of <br />dollars ($ ) for the <br />payment whereof, the said Principal and Surety bind themselves, and their heirs, <br />administrators, executors, successors and assigns, jointly and severally, by these <br />presents: <br /> <br />WHEREAS, the Principal has entered into a certain written contract with the <br />Owner, dated the day of ,2007, to which contract is <br />hereby referred to and made apart hereof as fully and to the same extent as if <br />copied at length herein. <br /> <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION 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 contract, then, <br />this obligation shall be void; otherwise to remain in full force and effect; <br /> <br />"PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions <br />of Vernon's Texas Codes Annotated. Texas Government Code. Chapter 2253, as <br />amended and all liabilities on this bond shall be determined in accordance with <br />the provisions of said Article to the same extent as if it were copied at length <br />herein." <br /> <br />Surety, for value received, stipulates and agrees that no change, extension 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 accompanying the same, <br />shall in such change extension of time, alteration or addition to the terms of the <br />contract, or to the work to be performed thereunder. <br /> <br />Payment Bond 1 of 2 <br />