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City of La Porte <br />PAYMENT BOND <br />MLK SPLASH PARK RESTROOM <br />STATE OF TEXAS <br />COUNTY OF HARRIS <br />KNOW ALL PERSONS BY THESE PRESENTS: <br />Section 00612 <br />Payment Bond Form <br />Bond #4402546 <br />That Restroom Facilities, Ltd., 1707 Colt Circle, Marble Falls, TX 78654 <br />Hereinafter called Principal, and <br />SureTec Insurance Company, 1330 Post Oak Blvd., Suite 1100, Houston, TX 77056 <br />Hereinafter called Surety, are held and firmly bound unto the City of La Porte, hereinafter called <br />Owner, in the full and just sum of <br />Fly Three Thousand One Hundred Eighty Eight and 30/100 Dollars, <br />($ 83,188.30 ) good and lawful money of the United States of America for the payment of <br />which well and truly to be made, the said Principal and Surety hereby jointly and severally bind <br />ourselves, heir, executors, administrators, successors and assigns firmly by these presents. <br />WHEREAS, the Principal has entered into a certain written contract with the Owner, Agreement <br />dated the 11 day of April , 2016 , to which contract is <br />hereby referred to and made a part hereof as fully and to the same extent as if copied at length <br />herein. <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said <br />Principal shall pay all claimants supplying labor and material to him or a subcontractor in the <br />prosecution of the work provided for in said contract, then, this obligation shall be void; <br />otherwise to remain in full force and effect; <br />PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of Chapter 2253 <br />of the Texas Government Code as amended and all liabilities on this bond shall be determined <br />in accordance with the provisions of said Chapter to the same extent as if it were copied at <br />length herein. <br />Surety, for value received, stipulates and agrees that no change, extension of time, alteration or <br />addition to the terms of the contract, or to the work performed thereunder, or the specifications <br />or drawings accompanying the same, shall in anyway effect its obligation on this bond and it <br />does hereby waive notice of any such change, extension of time, alteration or addition to the <br />terms of the contract, or to the work to be performed thereunder. <br />PROVIDED, FURTHER, that no final settlement between the Owner and the Contractor shall <br />abridge the right of any beneficiary hereunder, whose claim may be unsatisfied. <br />