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101107 V11
<br />STATE OF TEXAS
<br />§ KNOW ALL MEN BY THESE PRESENTS:
<br />COUNTY OF LAMAR §
<br />That ........ hereinafter called
<br />"Principal," and a corporation organized
<br />and existing under the laws of the State of and fully licensed to transact
<br />business in the State of Texas, hereinafter "Surety," are held and firmly bound unto the CITY OF
<br />PARIS, TEXAS, a home -rule municipal corporation, hereinafter called 'Beneficiary," and unto all
<br />persons, firms, and corporations who may furnish materials for, or perform labor upon the building or
<br />improvements described below, in the penal sum of
<br />DOLLARS ($ ) in lawful money of
<br />the United States, to be paid in Lamar County, Texas, for the payment of which sum well and truly to
<br />be made, we bind ourselves, our heirs, executors, administrators and successors jointly and
<br />severally, firmly by these presents. This Bond shall automatically be increased by the amount of any
<br />Change Order or Supplemental Agreement which increases the Contract price, but in no event shall a
<br />Change Order or Supplemental Agreement which reduces the Contract price decrease the penal sum
<br />of this Bond.
<br />THE OBLIGATION TO PAY SAME is conditioned as follows: Whereas, the Principal entered
<br />into a certain written Contract with the Beneficiary, dated the day of
<br />, A.D. which is made a part hereof by reference, for the construction of certain public
<br />improvements that are generally described as follows:
<br />NOW, THEREFORE, if the Principal shall well, truly and faithfully perform its duties and make
<br />prompt payment to all persons, firms, subcontractors, corporations and claimants supplying labor
<br />and/or material in the prosecution of the Work provided for in said Contract and any and all duly
<br />authorized modifications of said Contract that may hereafter be made, notice of which modification to
<br />the Surety is hereby expressly waived, then this obligation shall be void; otherwise it shall remain in
<br />full force and effect.
<br />PROVIDED FURTHER, that if any legal action be filed on this Bond, exclusive venue shall lie
<br />in Lamar County, Texas.
<br />AND PROVIDED FURTHER, that the said Surety, for value received, hereby stipulates and
<br />agrees that no change, extension of time, alteration or addition to Contract, or to the Work performed
<br />thereunder, or the Plans, Specifications, Drawings, etc., accompanying the same, shall in anyway
<br />affect its obligation on this Bond, and it does hereby waive notice of any such change, extension of
<br />time, alteration or addition to the terms of the Contract, or to the Work to be performed thereunder.
<br />This Bond is given pursuant to the provisions of V.T.C.A., Government Code Section
<br />2253.001, et seq., and any other applicable statutes of the State of Texas.
<br />The undersigned and designated agent is hereby designated by the Surety herein as the
<br />Resident Agent in ..... County, Texas to whom any requisite notices may be delivered
<br />City of Paris, Texas 00 61 13.16 — Page 1 of 3 Payment Bond
<br />9/10/2020
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