Laserfiche WebLink
(hereinafter called the principa0.asPrincipal and Philadelphia Indemnity Insurance Company <br />(hereinafter called the Surety). as Suroty, are bound unto the City of La Porte Texao, o home rule municipal <br />corporation of Harris County. Texas (hereinafter called Obligee) in the amount of <br />Five Percent of Greatest Amount Bid*** UoUe,s (85%ll�.l.***). for the payment whereof said Principal <br />and Surety bind themselves, and their heim, adminiatoaorm, exeoutore, successors and assigns, jointly and <br />severally, firmly bythese presents. <br />WHEREAS, the Principal has submitted a Bid toenter into acertain written Contract with Obligee for <br />NOW, THEREFORE, THE CONDITION OFTHIS OBLIGATION iSSUCH, that if the said Principal <br />shall faithfully, enter into such written Contract, then this obligation ahe|| be void; otherwise to 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 mbefore official rejection ofsuch 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 (}b||Qee, in <br />either of such events, shall be entitled and is hereby given the right to collect the full amount of this Bid Bond <br />osliquidated damages. <br />