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PAYMENT BOND
<br />STATE OF TEXAS §
<br />§
<br />COUNTY OF LAMAR §
<br />KNOW ALL MEN BY THESE PRESENTS: That
<br />whose address is , hereinafter called Principal, and
<br />,a corporation organized and existing under the laws of
<br />the State of , and fully licensed to transact business in the State of Texas,
<br />as Surety, are held and firmly bound unto the CITY OF PARIS,
<br />a home-rule municipal corporation organized and existing under the laws of the State of
<br />Texas, hereinafter called "Owner", and unto all persons, firms, and
<br />corporations who may furnish materials for, or perform labor upon the building
<br />or improvements hereinafter referred to in the penal sum of
<br />DOLLARS ) in
<br />lawful money of the United States, to be paid in Lamar County, Texas, for the payment
<br />of which sum well and truly to be made, we bind ourselves, our heirs, executors,
<br />administrators and successors jointly and severally, firmly by these presents. This Bond
<br />shall automatically be increased by the amount of any Change Order or Supplemental
<br />Agreement which increases the Contract price, but in no event shall a Change Order or
<br />Supplemental Agreement which reduces the Contract price decrease the penal sum of
<br />this Bond.
<br />THE OBLIGATION TO PAY SAME is conditioned as follows: Whereas, the
<br />Principal entered into a certain Contract with the City of Paris, the Owner, dated on or
<br />about the day of , A.D. 2008, which is made a part hereof
<br />by reference, for the
<br />NOW, THEREFORE, if the Principal shall well, truly and faithfully perForm its
<br />duties and make prompt payment to all persons, firms, subcontractors, corporations and
<br />claimants supplying labor and/or material in the prosecution of the Work provided for in
<br />said 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
<br />waived, then this obligation shall be void; otherwise it shall remain in full force and
<br />effect.
<br />PROVIDED FURTHER, that if any legal action be filed on this Bond, exclusive
<br />Venue shall lie in Lamar County, Texas.
<br />AND PROVIDED FURTHER, that the said Surety, for value received, hereby
<br />stipulates and agrees that no change, extension of time, alteration or addition to
<br />Contract, or to the Work performed thereunder, or the Plans, Specifications, Drawings,
<br />etc., accompanying the same, shall in anywise affect its obligation on this Bond, and it
<br />, UDU195
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