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40 <br />0 <br />independent oonhmnhnr, and that neither the Contractor nor any of his <br />servants, agents, or employees shallever hoconsidered h»bmonagent, <br />servant oremployee c%the County, <br />Article 7. PUBLIC CONSTRUCTION PAYMENT BOND AND PERFORMANCE <br />BOND: <br />The Conhec\orshall furnish the County immediately upon execution cf this <br />Contract, m Performance Bund In an amount equal to 125% mfthw <br />Contract price and mPmymentBond inmnamnmuntequal to100%ufthe <br />Contract price with good and nuMhoian( ourwheo' conditioned upon the <br />performance of this Contract by the Contractor in accordance with the terms <br />and conditions hereof, within the time herein provided and with the <br />add[tional obligation that such Contractor shall promptly make paymentsho <br />all persons Supplying him labor, materials and supplies, used directly or <br />indirectiy by the said Contractor in the proSMItion of the work provided for <br />in this contract. <br />The Contractor shall record the Payment and Performance Bond with the <br />Public Records Section ofthe Indian River Courthouse located m\2DOO1R" <br />Avenue, Vero Beach, F[o/ida.32B0D. The recorded bonds will beforwarded <br />to the Purchasing Division within awmek. <br />The Contractor shall provide two separate bonds, ocombined Payment and <br />Performance Bond for 125Y6 ofthe contract price is not onacceptable <br />uubo\duia. <br />In lieu of the Public Construction Bond, the Contractor may furnish an <br />alternative form of security in the form of cash, money order, certified check, <br />cmmhie/ochnok.inavocab|a|ettaroforadi\orameuurKymo|iotedinPuMOnf <br />F.S. Chapter 635. Any such alternative form of security shall bofor the <br />same purpose, and be for the same amount and subject to the same <br />conditions oothose applicable hxthe bond otherwise required, <br />Performance and Payment Bonds may bewaived bythe County ifthe total <br />contract iabelow $80.0OD. <br />IN WITNESS WHEREOF, the parties hereto have executed this agreement the day aiid <br />ye ar 8mtwhMenabnvm <br />` `' � <br />'~ ^ ^ r. <br />Jt <br />Signed and sealed by the <br />iii U, it presen <br />77 <br />IND71AIRIVERM <br />A T <br />� Kenneth R.Kaoht'Chairman <br />Barton, <br />Dated: <br />gaML)/ <br />C? q <br />_ <br />11 Ifnin <br />V. <br />xGREEMmNT <br />A - » <br />