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BID BOND <br />KNOW ALL MEN BY THESE PRESENTS, that we Pittard Construction Company <br />as principal, hereinafter called the "Principal," and SURETEC INSURANCE COMPANY, as surety, hereinafter called the <br />"Surety," are held and firmly bound unto City of Paris <br />as obligee, hereinafter called the Obligee, in the sum of 5 % of the greatest amount bid by Principal for the <br />payment of which sum well and truly to be made, the said Principal and the said Surety, bind ourselves, our heirs, <br />executors, administrators, successors and assigns, jointly and severally, firmly by these presents. <br />WHEREAS, the principal has submitted a bid for 14Water Main Extention to Daisy Farms <br />Texas Capital Fund Grant TCF#729192 HEI#124001 Prol. No. <br />NOW, THEREFORE, if the contract be timely awarded to the Principal and the Principal shall within such time as <br />specified in the bid, enter into a contract in writing or, in the event of the failure of the Principal to enter into such Contract, <br />if the Principal shall pay to the Obligee the difference not to exceed the penalty hereof between the amount specified in <br />said bid and such larger amount for which the Obligee may in good faith contract with another party to perform the work <br />covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect. <br />PROVIDED, HOWEVER, neither Principai nor Surety shall be bound hereunder unless Obligee prior to execution of the <br />final contract shall furnish evidence of financing in a manner and form acceptable to Principal and Surety that financing <br />has been firmly committed to cover the entire cost of the project. <br />SIGNED, sealed and dated this 10th day of April 2010 <br />Pittard Construction Compan ~ <br />(Prircipa" <br />BY: <br />/ <br />TITLE: /`~;,.~~c~ / <br />SURETEC INSURANC COMPANY <br />BY: <br />Sonia Lara , Atiorney-in-Fact <br />