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CONSTRUCTION PAYMENT BOND
<br />STATE OF TEXAS
<br />COUNTY OF LAMAR
<br />KNOW ALL MEN BY THESE PRESENTS: That whose address is
<br />hereinafter called Principal,
<br />and _ v a corporation
<br />organized and existing underthe laws of the State of - 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 "OWNER", and unto all persons, firms,
<br />and corporations who may furnish materials for, or perform labor upon the building or
<br />improvements hereinafter referred to in the penal sum of
<br />DOLLARS ($ ) in lawful money of
<br />the United States, tom i paid e din Collin County, Texas, for the payment of which sum well and
<br />truly to be made, we bnd ourselves, our heirs, executors, administrators and successors, jointly
<br />and severally, firmly by these presents. The penal sum of this Bond shall automatically be
<br />increased by the amount of any Change Order or Supplemental Agreement, which increases
<br />the Contract price, but in no event shall a Change Order or Supplemental Agreement, which
<br />reduces the Contract price, decrease the penal sum of this Bond.
<br />THE OBLIGATION TO PAY SAME is conditioned as follows: Whereas, the Principal entered
<br />into a certain Contract with the City of Paris, Texas, the OWNER, dated on or about the
<br />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
<br />other accessories necessary for the construction of:
<br />PARIS PUMP TRACK
<br />TPWD GRANT PROJECT 48-001178
<br />NOW THEREFORE, if the Principal shall well, truly and faithfully perform its duties and
<br />make prompt payment to all persons, firms, subcontractors, corporations and claimants
<br />supplying labor and/or material in the prosecution of the Work provided for in the above -
<br />referenced Contract and any and all duly authorized modifications of said Contract that may
<br />hereafter be made, notice of which modification to the Surety is hereby expressly waived, then
<br />this obligation shall be void; otherwise it shall remain in full force and effect.
<br />PROVIDED FURTHER, that if any legal action were filed on this Bond, exclusive venue
<br />shall lie in Lamar County, Texas.
<br />AND PROVIDED FURTHER, that the said Surety, for value received, hereby stipulates
<br />and agrees that no change, extension of time, alteration or addition to the terms of the Contract,
<br />or to the Work performed thereunder, or the Plans, Specifications, Drawings, etc.,
<br />accompanying the same, shall in anywise affect its obligation on this Bond, and it does hereby
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