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j. Owner has a right to claim liquidated damages. When the above grounds are removed or the Contractor provides a Surety or Performance Bond satisfactory to the Owner, which will protect the Owner in the amount withheld, payment shall be made for amounts withheld because of them. GC 44.11 The provisions of the Local Government Prompt Payment Act, Section 218.70 et seq, Fla. Stat., are incorporated by reference herein. The Act provides payment due dates, addresses, interest and payment dispute resolution. GC 45 LIENS. Neither the final payment nor any part of the retained percentage shall become due until the Contractor shall deliver to the Owner complete releases of all claims or liens arising out of this Contract, or receipts in full in lieu thereof and, if required in either case, an affidavit that so far as he has knowledge or information the release and receipts include all the labor and materials for which a lien or claim could be filed; but the Contractor may, if any sub -contractor refuses to furnish a release or receipt in full, furnish a bond satisfactory to the Owner, to indemnify the Owner against any claim or lien (in cases where such payment is not already guaranteed by Surety or Performance Bond). If any claim or lien remains unsatisfied after all payments are made, the Contractor shall refund to the Owner all moneys that the latter may be compelled to pay in discharging such a lien, including all costs and reasonable attorney's fee. GC 46 CONSTRUCTION PERFORMANCE BOND. (if required) (A) In accordance with the provisions of Section 255.05, Florida Statutes, the Contractor shall provide to the Owner, on forms furnished by the Owner, a 100% Performance Bond and a 100% Labor and Material Payment Bond ("Bond") each in an amount not less than the total Cost of the Project as defined in Article 11. The Bond shall incorporate by reference the terms of the Contract Documents in its entirety. Moreover, Contractor agrees that the following language shall be expressly included within the language of its Performance Bond: "Surety expressly agrees to be bound by all terms and conditions relating to liquidated, delay and time or impact related damages, and is responsible for any and all warranty obligations or damages as a result of latent defects or deficiencies in the work performed under the Contract Documents incorporated herein or as provided for by Florida law." (B) Contractor's Surety agrees, moreover, to be bound by all terms and conditions related to delay and liquidated damages. Except as otherwise agreed to in writing, the Contractor's Surety waives all rights against the Owner and any of its agents and employees, for damages or other causes of loss by Contractor's Surety performance of its obligations under the performance bond, including claims by Contractor's Surety against the Owner for costs it asserts were not warranted by these Contract Documents and excluding only such rights as they have to proceeds of such insurance held by the Owner as fiduciary. This waiver of subrogation shall be effective as to a person or entity even though that person or entity would otherwise have a duty of indemnification, contractual or otherwise, did not pay the bond premium directly or indirectly, and whether or not the person or entity had an insurable or suretyship interest in the property allegedly damaged. (C) To be acceptable to The Owner of as Surety for this Project, a Surety Company shall comply with the following provisions: (1) The Surety Company shall have a currently valid Certificate of Authority, issued by the State of Florida Department of Insurance, authorizing it to write surety bonds in the State of Florida. (2) The Surety Company shall have currently valid Certificate of Authority issued by the United States Department of Treasury under Sections 9304 to 9308 of Title 31 of the United States Code. (3) The Surety Company shall be in full compliance with the provisions of the Florida Insurance Code. 43 F:\Engineering\Capital Projects\0604-12th St Sidewalk Improve between 43rd Ave & 27th Ave\0604 Federal Contract Provisions.doc aQ9rXW 2o:34PM