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City of La Porte Section 00431 <br />Bid Bond Form <br />STATE OF TEXAS § <br />§ SURETY'S NO. N/A <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 Company <br />(hereinafter called the Surety), as Surety, are bound unto the City of La Porte, Texas, a home rule municipal <br />corporation of Harris County, Texas (hereinafter called Obligee) in the amount of <br />Five Percent (5%) of the Total Amount Bid" Dollars ($,a o �of T.A�.B. , for the payment whereof said Principal <br />and Surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and <br />severally, firmly by these presents. <br />WHEREAS, the Principal has submitted a Bid to enter into a certain written Contract with Obligee <br />for Bid #19015 lfillridj4e Water Plant Improvements Phase II -Rebid <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal <br />shall faithfully, enter into such written Contract, then this obligation shall 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 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 right to collect the full amount of this Bid Bond <br />as liquidated damages. <br />