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CONSTRUCTION PERFORMANCE BOND
<br />STATE OF TEXAS
<br />COUNTY OF LAMAR
<br />KNOW ALL MEN BY THESE PRESENTS: That whose address
<br />is
<br />hereinafter called Principal, and
<br />-f a corporation
<br />organized and existing under the laws of the State of mITITITIT�_r , and
<br />fully licensed to transact business in the State of Texas, as Surety, are held and firmly bound
<br />unto the CITY OF PARIS, Texas, a home -rule municipal corporation organized and existing
<br />under the laws of the State of Texas, hereinafter called "Beneficiary", in the penal sum of
<br />Dollars
<br />) plus fifteen percent (15%) of the stated penal
<br />sum as an additional sum of money representing additional court expenses, attorneys' fees, and
<br />liquidated damages arising out of or connected with the below identified Contract in lawful
<br />money of the United States, to be paid in Lamar County, Texas, for the payment of which sum
<br />well and truly to be made, we bind ourselves, our heirs, executors, administrators and
<br />successors, jointly and severally, firmly by these presents. The penal sum of this Bond shall
<br />automatically be increased by the amount of any Change Order or Supplemental Agreement,
<br />which increases the Contract price, but in no event shall a Change Order or Supplemental
<br />Agreement, which reduces the Contract price, decrease the penal sum of this Bond.
<br />THE OBLIGATION TO PAY SAME is conditioned as follows: Whereas, the Principal
<br />entered into a certain Contract with the City of Paris, Texas, the Beneficiary, dated on or about
<br />the ........ day of , A.D. 20 , a copy of which is attached hereto
<br />and made a part hereof, to furnish all materials, equipment, labor, supervision, and other
<br />accessories necessary for the construction of:
<br />PARIS PUMP TRACK
<br />TPWD GRANT PROJECT 48-001178
<br />in the City of Paris, Texas, as more particularly described and designated in the above -
<br />referenced contract such contract being incorporated herein and made a part hereof as
<br />fully and to the same extent as if written herein word for word.
<br />NOW, THEREFORE, if the Principal shall well, truly and faithfully perform and fulfill all of
<br />the undertakings, covenants, terms, conditions and agreements of said Contract in accordance
<br />with the Plans, Specifications and Contract Documents during the original term thereof and any
<br />extension thereof which may be granted by the Beneficiary, with or without notice to the Surety,
<br />and during the life of any guaranty or warranty required under this Contract, and shall also well
<br />and truly perform and fulfill all the undertakings, covenants, terms, conditions and agreements
<br />of any and all duly authorized modifications of said Contract that may hereafter be made, notice
<br />of which modifications to the Surety being hereby waived; and, if the Principal shall repair and/or
<br />replace all defects due to faulty materials and workmanship that appear within a period of one
<br />15
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