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<br />SEP, 10. 1998 lO.27ftJ4 <br /> <br />UNIVERSAL SURETY <br /> <br />NO. 0524 <br /> <br />PI 3 <br /> <br />e e <br />WESTERN SURETY COMPANY <br /> <br />950 Echo Lane, Suite 250 <br />Houston, TX 77024 <br /> <br />Bond No.: SP2 2331962 00 <br /> <br />PAYMENT BOND <br /> <br />KNOW ALL MEN BY THESE PRESENTS: That BrooksConcrete.lne.. Principa~ and WESTERN SURETY COMPANY, Surety, are <br />flnnly held and tinnlybound unto City 0; LaPorte, Obligee. in the sum of Sixty-Eight Thousand Four Hundred Twenty-Four and <br />0/100." Dol18l'll ($68,424.00), for the pIIyment of which we bind ourselves. our legal representatives, successors and assigns, <br />jointly and severally, finnly by these presents. <br /> <br />WHEREAS. Principal has entered into a contract with Obligee, dared July 27, 1998 for city wide sidewalk replacement <br />project FY 97-98 &. Fainnont Parkway pecfestrian plan phase II, elP project no. 98-4503, copy of which contract is by reference <br />made a part hereof. <br /> <br />NOW, THEREFORE, if Principal shall promptly make payment to all persons supplying labor and material incorporated in t;e <br />prosecution of th\: work provided for in said contract, then this obligation shall be void; otherwise to remain in full force and <br />effect. <br /> <br />PROVIDED HOWEVER, thai the the Obligee ha\iing required the said Principal to furnish this bond in accordance with any <br />applicable statutes, all rights and remedies shall inure solely to the statutory beneficiaries in accordance with the provisions, <br />conditions. and Iimiutions of said applicable statutes to the same extent lIS if they were copied at length herein. <br /> <br />Signed, sealed. and dated September 10, 199&. <br /> <br />Brooks Concrete, Ine. <br /> <br /> <br />STE~ SURETY caMPA"" ~ <br /> <br />By;~,/J;fe r~ <br /> <br />DA \rID ROYCE SE~L <br />Attorney-in-Fact <br />