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w ork to be p e rfo rm e d u n d er s a id c o n t r a c t * and s h a l l a l s o com plete in a l l i t s p a r t s a l l the work d e s c r ib e d in s a id c o n t r a c t w it h in the tim e and in the manner t h e r e in s p e c i f i e d and s h a l l a l s o o b s e rv e * p e rfo rm * f u l f i l l and keep a l l and e v e r y the coven an ts and agreem en ts in s a i d c o n t r a c t on the p a r t o f the C o n t r a c t o r to be k e p t* p e rfo rm e d o r com p lied w it h w it h in the tim e and in the mann e r t h e r e in s p e c i f i e d * and s h a l l a l s o p ay in f u l l the c la im s o f any and a l l p e rs o n s p e rfo rm in g l a b o r upon o r f u r n i s h i n g m a t e r ia ls to be u sed in s a i d work* th en t h i s o b l i g a t i o n to be v o id ; o t h e r w is e to rem ain in f u l l f o r c e and e f f e c t . No change o r a l t e r a t i o n o f the work* e x t e n s io n o f time o r o t h e r m o d ific a t io n o f s a i d c o n t r a c t s h a l l r e l e a s e o r e x o n e ra te any S u re ty o r S u r e t ie s upon t h i s bon d. I t i s e x p r e s s ly a g re e d and u n d e rs to o d t h a t t h i s bond i s made and e x e c u te d con tem p oran eou sly w it h the c o n t r a c t above m entioned and in c o n s id e r a t io n o f the c o v e n an ts and agreem en ts t h e r e in made and e n t e r e d in t o on the p a r t o f the W a te r Company* and t h a t the due e x e c u t io n and d e l i v e r y h e r e o f i s a c o n d it io n p re c e d e n t to l i a b i l i t y on the p a r t o f the W a te r Company on s a i d above m entioned c o n t r a c t . I t i s f u r t h e r a g re e d and u n d e rsto o d t h a t t h i s bond i s made in com plian ce w it h S e c tio n s 3737 to 3753* b o th i n c lu s i v e * o f Nevada Com piled Laws o f 1929*and a l l a c t s am endatory t h e r e o f and su p p le m e n ta l t h e r e t o ; and t h i s bond s h a l l in u re to th e b e n e f i t o f any and a l l p e rs o n s who p e r form la b o r upon o r f u r n i s h m a t e r ia ls to be u sed in the work to be p e rfo rm e d u n d er s a i d c o n t r a c t so as to g iv e such p e rs o n s a r i g h t o f a c t io n to r e c o v e r upon t h i s bond in any s u i t b ro u g h t to f o r e - 2.