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City of La Porte <br />STATE OFTEXAS § <br />§ SURETY'S NO. <br />COUNTY OF HARRIS § <br />KNOW ALL MEN BY THESE PRESENTS, THAT W.W. Payton Corporation <br />(hereinafter called the Principal), as Principal and Hartford Fire Insurance Comp�,ny <br />Section 00431 <br />Bid Bond Form <br />(hereinafter called the Surety), as Surety, are bound unto the City of La Porte, Texas, ahome rule municipal <br />corporation of Harris County, Texas (hereinafter called Obligee) in the amount of <br />Five Percent (5%) of the Total Amount Bid DollarsNTA <br />for the payment whereof said Principal <br />and Surety bind themselves, and their heirs, adminiuhabom, exenuhors, successors and omdgno, jointly and <br />severally, firmly bythese presents. <br />WHEREAS, the Principal has submitted o Bid to enter into a certain written Contract with Obligee <br />for Sealed Bid #19011 <br />Hillridge Water Plant Improvements Phase II for The City of La Porte <br />NOW, THEREFORE, THE CONDITION OFTHIS OBLIGATION |SSUCH, that if the said Principal <br />shall faithfully, enter into such written Contract, then this obligation shall hevoid; otherwise b/remain in full <br />force and effect. <br />IT IS EXPRESSLY UNDERSTOOD AND AGREED that if said Principal should withdraw its Bid <br />anytime after such Bid is opened and before this Bid Bond is returned or before official rejection Of Such Bid; <br />or, if successful in securing the award thereof, said Principal should fail to enter into the Contract and furnish <br />satisfactory Performance Bond and Payment Bond, and other required contract documents, the Obligee, in <br />either of such events, shall be entitled and is hereby given the Cight to collect the full amount of this Bid Bond <br />aaliquidated damages. <br />