10-22-12 Regular Meeting of La Porte City Council

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PERFORMANCE BOND STATE OF TEXAS § COUNTY OF HARRIS § KNOW ALL MEN BY THESE PRESENTS: That of the City of County of , and State of , as principal, and authorized under the laws of the State of Texas to act as surety on bonds for principals, are held and firmly bound unto The City of La Porte (Owner), in the penal sum of dollars ($) for the payment whereof, the said Principal and Surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, by these presents: WHEREAS, the Principal has entered into a certain written contract with the Owner, dated the day of , 2012, to which contract is hereby referred to and made apart hereof as fully and to the same extent as if copied at length herein. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall faithfully perform said Contract and shall in all respects duly and faithfully observe and performall and singular the covenants, conditions and agreements in and by said contract agreed and covenanted by the Principal to be observed and performed, and according to the true intent and meaning of said Contract and the Plans and Specifications hereto annexed, then this obligation shall be void; otherwise to remain in full force and effect; "PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of Vernon's Texas Codes Annotated, Texas Government Code, Chapter 2253, as amended and all liabilities on this bond shall be determined in accordance with the provisions of said Article to the same extent as if it were copied at length herein." Surety, for value received, stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract, or to the work performed thereunder, or the plans, specifications, or drawings accompanying the same, shall in any way affect its obligation on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract, or to the work to be performed there under.