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<br />11/18/2008 18:04 <br /> <br />2816482462 <br /> <br />BAYWAV HOMES <br /> <br />PAGE 08/19 <br /> <br />QILc7 f0 61~ <br /> <br />PERFORMANCE BOND <br /> <br />STATE OF TEXAS <br />COUNTY OF HARRIS <br /> <br />~ <br />9 <br /> <br />Borid No. 810981 <br /> <br />KNOW ALL MEN BY THESE PRESENTS; That sayway Homes, Inc,. of the <br />City of Friendswood County of _galveston....... I and State of Texa~ as <br />principal, and J.nSJAtc>.I:$..J~~.mAAUvauthoriZed under the laws of the state of <br />Texas to act as surety on bonds for principals, are 11eld and firmly bOUhd I.\oto <br />The City of La Porte {Owner)1 In the penal sum of <br />Ni~~~ei~tlt ~bus~~d no/l00~.-------------- do!lsfl; ($ 98,000.00 ) 'for l.t1e <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 ~ntra:ct with the <br />Owner, dated the 17th _ day of 'December. 2007, to which contract Is hereby <br />referred to and made apart hereof as fully and to the saMe extent as if oopied at <br />length herein. <br /> <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if <br />the said Principal shall faithfully perform said contract and shall in all respects <br />duly and faithfully observe and perfonn all and sIngular the oovenants, oonditions <br />and agreements in and by said contract agreed and covenanted by the Principal <br />to be observed and performt:d, and aOCOrding to the true Intent and meeming of <br />said COntract and the Plans and speclflcations llereto ~"nex~, then this <br />Qbfigatlon shall be void; otl1erwlse to remain in full force $t'ld effect; <br /> <br />IlPROVlOED, HOWEVER, that this bond Is exeeuted pursuant to the provieior\s <br />of Vernon's Te.xas Codes.Annota~. Texas Govemment Code.. ChaDter,225,3" as <br />amended and allliabilltles 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 reoeived, stipulates and agrees that no change, extension of <br />time, alteration or addition to the terms of the Contract, or to the work. p~rformed <br />thereunder, or the plans, speclficationst or drawlngs acoompQnying the same, <br />shalll" any way affect its obligation an this bond, and it does hereby waive notice <br />of any such change. e,ctenslon of time, alteration or addition to .the terms of the <br />contract. or to the work to be performed there under, <br /> <br />Performance Bond 1 of ~ <br />