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ATRUE COPY CERTIFICATION ON LAST PAGE J.R. SMITH, CLERK known or unknown at the time of the commencement date of the Lease Agreement, and whether or not any plume or contamination is determined to be ongoing or continuous. 20. PAYMENT AND PERFORMANCE BONDS: (a) TENANT shall cause TENANT'S contractor to obtain and provide a payment and performance bond, in the form approved by LANDLORD, for construction of any improvements on or to the Leased Premises for which the cost of completion will exceed $10,000.00. Such bond shall be payable in an amount equal to One Hundred Twenty -Five Percent (125%) of the estimated cost to complete the improvements and shall be underwritten by a surety acceptable to LANDLORD and authorized to do business in the State of Florida. TENANT'S contractor may substitute for a bond, a payment and performance irrevocable letter of credit, in the form approved by LANDLORD, from a bank authorized to do business in the State of Florida, and with an office located in Indian River County, Florida where such letter of credit may be drawn upon. All such bonds and letters of credit shall inure to the benefit of LANDLORD and TENANT and all other persons, companies and corporations entitled to make a claim for payment against the bond or letter of credit pursuant to the applicable provisions of Florida law. Such bond or letter of credit shall remain in effect through completion of the improvements and all guarantee and warranty periods. No improvements on or to the Leased Premises shall commence before the required bond or letter of credit is received and approved by LANDLORD. (b) TENANT shall cause TENANT'S contractor to provide a contractor's final affidavit upon completion of the improvements, certifying to LANDLORD and TENANT that full payment was made to all subcontractors, materialmen, leasing companies, and Page 30 of 38 N:\Client Docs\Airport\Attachment B\2016.February.16.ATTACHMENT B.docx