13-Exhibit No. 3 Sample Construction Payment Performance Bonds.pdf

Exhibit 3

SAMPLE PAYMENT BOND

Project No:

STATE OF TEXAS

COUNTY OF HARRIS

KNOW ALL PERSONS BY THESE PRESENTS: That

(Contractor), of the City of , County of , and State of ,as Principal, and

, authorized under the Laws of the State of Texas to act as surety on bonds for principals, are held and firmly bound unto Houston Community College System (Owner), in the penal sum of

Dollars ($ ) for the payment whereof, the said Principal and Surety bind themselves, and their respective officers, directors, shareholders, partners, heirs, administrators, executors, successors and assigns, jointly and severally, by these presents:

WHEREAS, the Principal has entered into a certain written contract with the Owner, dated the day of , 20 , for construction of:

which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length herein.

NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION IS SUCH, that if the said

Principal shall pay all claimants supplying Public Work Labor and Public Work Material (as defined by Section 2253.001 of the Texas Government Code) to him or a subcontractor in the prosecution of the work provided for in said contract, then, this obligation shall be void; otherwise, to remain in full force and effect.

PROVIDED, HOWEVER, That this bond is executed pursuant to the provisions of Chapter 2253 of the Texas Government Code as amended and all liabilities on this bond shall be determined in accordance with the provisions of said Statute to the same extent as if it were copied at length herein.

Surety, for value received, stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract, or to work performed thereunder, or the plans, specifications, or drawings, accompanying the same, shall in anyway affect its obligation on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract, or the work to be performed thereunder.

IN WITNESS WHEREOF, the said Principal and Surety have signed and sealed this instrument day of , 20 .

Principal Surety

BY: BY:

TITLE: TITLE:

ADDRESS: PHYSICAL ADDRESS:

MAILING ADDRESS:

TELEPHONE:

LOCAL RECORDING AGENT

PERSONAL IDENTIFICATION

NUMBER:

The name and address of the Resident Agent of Surety is:

SAMPLE PERFORMANCE BOND

Project No.

THE STATE OF TEXAS §

§ KNOW ALL MEN BY THESE PRESENTS:

COUNTY OF HARRIS §

THAT WE, , as Principal, hereinafter called “Contractor” and the other subscriber hereto

, as Surety, do hereby acknowledge us to be held and firmly bound to The Houston Community College, “Owner,” in the sum of

($ ) for the payment of which sum, well and truly to be made to Owner and its successors, the said Contractor and Surety do bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally.

THE CONDITIONS OF THIS OBLIGATION ARE SUCH THAT:

WHEREAS, the Contractor has on or about this day executed a Contract in writing with Owner for all of such work to be done as set out in full in said Contract Documents therein referred to and adopted by the Owner, all of which are made a part of this instrument as fully and completely as if set out in full herein.

NOW THEREFORE, if the said Contractor shall faithfully and strictly perform Contract in all its terms, provisions, and stipulations in accordance with its true meaning and effect, and in accordance with the Contract Documents referred to therein and shall comply strictly with each and every provision of Contract and with his bond, then this obligation shall become null and void and shall have no further force and effect; otherwise the same is to remain in full force and effect.

Should the Contractor fail to perform the Contact faithfully and strictly in all its terms, Surety shall be liable for all damages, losses, expenses, and liabilities that the Owner may suffer in consequence thereof, as more fully set forth herein. It is further understood and agreed that the Surety does hereby relieve Owner or its representatives from the exercise of any diligence whatever in securing compliance on the part of the Contractor with the terms of the Contract, including the making of payments thereunder, excepting only Owner’s failure to make such payments in accordance with the terms and conditions of the Contract, and, having fully considered its Principal’s competence to perform the Contract in the underwriting of this Performance Bond, the Surety hereby waives any notice of delay by the Contractor in the performance of the Contract. The Surety understands and agrees that the provision in the Contract that Owner shall retain certain amounts due the Contractor until the expiration of thirty days from the acceptance of the Work is intended for the Owner’s benefit, and Owner shall have the right to pay or withhold such retained amounts or any other amount owing under the Contract without changing or affecting the liability of the Surety hereon in any degree.

It is further expressly agreed by Surety that Owner or its representatives are at liberty at any time, without notice to the Surety, to make any change in the Contract Documents and in the Work to be done thereunder, as provided in the Contract, and in the terms and conditions thereof, or to make any change in, addition to, or deduction from the work to be done thereunder; and that such changes, if made, shall not in any way vitiate the obligation in this bond and undertaking or release the Surety therefrom.

This bond and all obligations created hereunder shall be performable in Harris County, Texas. This bond is given in compliance with the provisions of Chapter 2253 of the Texas Government Code, as amended, which is incorporated herein by this reference.

However, all of the express provisions hereof shall be applicable whether or not within the scope of said statute.

IN WITNESS THEREOF, the said Contractor and Surety have signed and sealed this instrument on the respective dates written below their signatures and have attached current Power of Attorney.

ATTEST, SEAL: (if a corporation)

WITNESS: (if not a corporation) (Name of Contractor)

By: By: Name:

Name:

Title: Title:

Date:

ATTEST, SEAL: (if a corporation)

WITNESS: (if not a corporation) (Name of Surety)

By: By:

Name: Name:

Title: Title:

Date: