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<br /> PAYMENT BOND <br /> STATE OF TEXAS <br /> COUNTY OF HAYS <br /> KNOW ALL PERSONS BY THESE PRESENTS: That PAYTON <br /> CONSTRUCTION, INC., of the County of Hays, and State of <br /> Texas, as PRINCIPAL, and <br /> , as <br /> SURETY, authorized to do business in TEXAS, are held and <br /> firmly bound unto the CITY OF SAN MARCOS, as OWNER, in the <br /> penal sum of forty-six thousand two hundred twenty-one and <br /> 30/100 DOLLARS ($ 46,221.30 ) for the payment whereof, the <br /> Principal and Surety bind themselves and their heirs, <br /> administrators, executors, successors and assigns, jointly <br /> and severally, by these presents. <br /> WHEREAS, the Principal has entered into a certain <br /> written Contract with the Owner, dated the day of <br /> , 19 , for San Marcos Parkway Culvert <br /> Replacement , <br /> which Contract is hereby referred to and made a part hereof <br /> as fully and to the same extent as if copied at length <br /> herein. <br /> NOW, THEREFORE, the condition of this obligation is <br /> such, that if the Principal shall pay all claimants supplying <br /> labor and material to it or a subcontractor in the <br /> prosecution of the work provided for in the Contract, then <br /> this obligation shall be satisfied; otherwise to remain in <br /> full force and effect; <br /> PROVIDED, HOWEVER, that this bond is executed pursuant <br /> to the provisions of Article 5160 of the Revised Civil <br /> Statutes of Texas, as amended and all liabilities on this <br /> bond shall be determined in accordance with the provisions of <br /> said Article to the same extent as if it were copied at <br /> length herein. <br /> PROVIDED FURTHER, that if any legal action be filed upon <br /> this bond, venue shall lie in Hays County, State of Texas. <br /> Surety, for value received, stipulates and agrees that <br /> no change, extension of time, alteration or addition to the <br /> terms of the Contract, or to the Work performed thereunder, <br /> or the plans, specifications, drawings or other Contract <br /> Documents accompanying the same, shall in anywise affect its <br /> obligation on this bond, and it does hereby waive notice of <br /> any such change, extension of time, alteration or addition. <br /> -1]- <br /> REVISED 10/21/91 <br />