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' place: A. Within ten ( 10) days of receipt of the Contract Documents for execution , the CONTRACTOR shall furnish a Performance Bond in an amount equal to 125 % of the Contract Price and a Payment Bond in an amount equal to 100% of the Contract Price , 1 . The CONTRACTOR shall provide two separate bonds . A combined Payment and Performance Bond for 125 % of the Contract Price is not an acceptable substitute . 2 . Such Bonds shall continue in effect for one ( 1 ) year after acceptance of the Work by the OWNER. 3 . The CONTRACTOR shall record , the Payment Bond and the Performance Bond with the Public Record Section of the Indian River ' County Courthouse located at 2000 16th Avenue , Vero Beach , Florida 32960 . The recorded bonds shall be forwarded to the Indian River County Purchasing Division on or before the seventh day after they are ' recorded . The CONTRACTOR shall pay all costs . SC-5 . 01 . 13 . Delete paragraph GC-5. 01 . 8 in its entirety and insert the following paragraph in its place: B . All Bonds shall be in the form prescribed by the Contract Documents except as provided otherwise by Laws or Regulations , and shall be executed by such rsureties as are named in the current list of "Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies" as published in Circular 570 (amended ) by the Financial Management Service , Surety Bond Branch , U . S . Department of the Treasury. The sureties for all Bonds must be authorized to issue surety bonds in Florida . The CONTRACTOR shall require the attorney-in-fact who executes any Bond , to affix to each a current certified copy of their Power of Attorney, reflecting such person 's authority as Power of Attorney in the State of Florida . Further, at the time of execution of the Contract, the CONTRACTOR shall for all Bonds , provide a copy of the Surety's current valid Certificate of Authority issued by the United States Department of the Treasury under 31 United States Code sections 9304- 9308 . SC -5 . 03 Certificates of Insurance ' SC-5 . 03 Delete the second sentence of paragraph GC-5. 03 in its entirety. SC -5. 04 CONTRACTOR' s Liability Insurance SC-5 . 04 Add the following new paragraphs immediately after paragraph GC-5. 04. 8: C . The limits of liability for the insurance required by paragraph 5 . 04 of the General Conditions shall provide coverage for not less than the following amounts or greater where required by Laws and Regulations : 1 . Worker's Compensation : To meet statutory limits in compliance with the Worker's Compensation Law of Florida . This policy must include Employer Liability with a limit $ 100 , 000 for each accident, $ 500 , 000 disease ( policy limit) and $ 100 , 000 disease (each employee) . Such policy shall include a waiver of subrogation as against OWNER and ENGINEER on account of injury sustained by an employee (s ) of the CONTRACTOR. 0378-00800 - Supplementary Conditions 00800-3 FAEngineering\Capital Projects\0378-26th Street Bridge\0378-26th Street Bridge CONTRACT OOC\0378-00800 - Supplementary Conditions.doc Rev. 05/01