ESBD_383359_1732633522411_Exhibit H Performance Bond.pdf

Magoffin Home State Historic Site HSD-2024-038 Structural Repairs to the Visitor Center RFP# 808-25-250510

EXHIBIT H

PERFORMANCE BOND

STATE OF TEXAS P roject Number HSD-2024-038

COUNTY OF_____ Contract Number 808-25-250510

KNOW ALL MEN BY THESE PRESENTS:

That we, _________________________ as PRINCIPAL, and _____________________________ as SURETY(S), Surety Address: ______________________________________________________________________

Surety Phone: _________________________________________ Surety Fax:

are hereby held and firmly bound unto the State of Texas in the penal sum of:

Dollars ($ ) for the payment, whereof, the said PRINCIPAL and SURETY(S) bind themselves, their heirs, executors, administrators, and successors, jointly and severally, firmly by these presents.

The conditions of this obligation are such that whereas the PRINCIPAL entered into a certain contract dated , 2024 hereto attached, and made a part hereof, with the State of Texas, acting by and through the Texas Historical Commission, to commence and complete certain public works described as:

Structural Repairs to the Magoffin Home Visitor Center, El Paso County, Texas

NOW THEREFORE, the conditions of this obligation are such that, if the PRINCIPAL shall faithfully perform the contract in accordance with the plans, specifications, and contract documents, and as provided in TITLE 10, TEXAS GOVERNMENT CODE, CHAPTER 2253 shall fully indemnify and save harmless the State of Texas from all cost and damage which the State of Texas may suffer by reason of the PRINCIPAL’S default or failure to do so and shall fully reimburse and repay the State of Texas all outlay and expense which the State of Texas may incur in making good any such default, then obligation shall be null and void, otherwise it shall remain in full force and effect.

Provided further, that if any legal action be filed upon this bond, venue shall lie in Travis County, Texas and that the said surety(s) for value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract, or to the work to be performed thereunder, or the Specifications accompanying the same, shall in anywise affect its obligation on this bond, and it does hereby waive notice of any such change, extension of time, alternation or addition, to the items of the Contract or to the work or to the Specifications.

In the event PRINCIPAL is in default under the contract as defined herein, SURETY(S) will within fifteen (15) days of determination of such default take over and assume completion of said contract and become entitled to the payment of the balance of the contract price.

IN WITNESS WHEREOF, the above bound parties have executed this instrument under their several seals this day of ________, 2024, the name and corporation seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative pursuant to authority of its governing body.

PRINCIPAL SURETY

BY _________________________________ BY __________________________________________ DATE: _______________________________ DATE: __________________________________________

PERFORMANCE BOND