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<br />Attachment C <br /> <br />Performance Bond <br /> <br />STATE OF <br /> <br />COUNTY OF <br /> <br />We, <br />of <br />as Principal, and <br />(bond company name), as Surety, are held and firmly bound unto the City of San Marcos, <br />Texas, as Owner, in the penal sum of <br />dollars ($ ), forthe <br />payment of which the Principal and Surety bind themselves and their heirs, administrators, <br />executors, successors and assigns, jointly and severally, by this bond: <br />The Principal has entered into a written Contract with the Owner dated <br />for the construction of the <br /> <br />(Contractor name), <br />(address), <br /> <br />which is fully incorporated into this bond by reference. <br />The condition ofthis obligation is that ifthe Principal faithfully and promptly performs <br />all work for the Project in accordance with the Contract Documents, and faithfully and <br />promptly observes and performs all of its covenants, conditions, duties and obligations <br />under the Contract Documents according to their true intent and meaning, then this <br />obligation will be satisfied; otherwise it will remain in full force and effect. <br />If the Owner declares the Principal to be in default under the Contract, the Surety <br />agrees to either 1) promptly remedy the default, or 2) faithfully and promptly perform and <br />complete the Project in accordance with the Contract Documents. <br />The Surety, for value received, agrees that no modification, change order, extension <br />of time, amendment or addition to the Contract, or to the plans, specifications, drawings <br />or other Contract Documents, will in any way affect the Surety's obligation on this bond, <br />and the Surety waives notice of any such modification, change order, extension of time, <br />amendment or addition. <br />The Surety certifies that it is authorized and admitted to write surety bonds in Texas. <br />If this bond exceeds $100,000.00 the surety certifies that it either 1) holds a certificate of <br />authority from the United States Secretary of the Treasury to qualify as a surety on <br />obligations permitted or required under federal law, or 2) has obtained qualified <br />reinsurance for any liability in excess of $100,000.00 from a reinsurer that is authorized <br />and admitted as a reinsurer in the State of Texas, and is the holder of a certificate of <br />authority from the United States Secretary of the Treasury to qualify as a surety or <br />reinsurer on obligations permitted or required underfederallaw. This bond is governed by <br />Chapter 2253 of the Texas Government Code, and it is provided solely for the protection <br />of the Owner. <br />This bond is filed with the Owner in Hays County, Texas, and the Principal and <br />Surety agree that mandatory venue for any legal action filed upon this bond is in Hays <br /> <br />Project, <br />