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Contractor shall furnish a performance bond within thirty (30) days of the Effective Date to SWDD. Said performance bond shall be equal to fifty (50%) percent of the total annual bid price. The premium for the performance bond shall be paid by the Contractor and shall be written by a Surety company licensed to conduct business in the State of Florida with an A.M. Best Financial Rating of A -VI or higher for the most current calendar year available. The Surety(s) shall be a company satisfactory to SWDD. 12.1.1 Said bond shall be forfeited should Contractor: a) Fail to comply with the requirements of this Contract; or b) Take the benefit of any present or future insolvency status or make a general assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or a petition or answer seeking an arrangement of reorganization or the readjustment of indebtedness under the Federal bankruptcy laws or under any law or statute of the United States or any state thereof, or consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of Contractor's property; or c) By an order or decree of a court to be adjudicated bankrupt; or d) Have an order or decree of a court entered approving a petition filed by any of Contractor's creditors seeking a reorganization or readjustment of Contractor's indebtedness under the Federal Bankruptcy laws or any law or statute of the United States or any state thereof, provided however, that if any such judgment or order is vacated within sixty (60) Days after the entry thereof, any notice of cancellation shall be and become null, void, and of no effect. 12.2 Administrative Charges 12.2.1 SWDD shall notify Contractor in writing by the tenth (10) Day of the month of the County's intent to deduct any Administrative Charges, as set forth in Article 12.2.3, including the basis for each Administrative Charge, from payments due or to become due to Contractor for service provided under this Contract. Notwithstanding the foregoing, however, or anything in this Section 12.2 or this Agreement or otherwise, no Administrative Charges shall be applicable or assessed, and no deductions shall be made from payments due or to become due to Contractor, during the period of time beginning on the Commencement Date and ending on the date that is one hundred eighty (180) days after the Commencement Date (the "Administrative Charges Exclusion Period"); for the avoidance of doubt, no Administrative Charges shall be applicable or assessed, and no deductions shall be made from payments due or to become due to Contractor, at any time if the basis for such Administrative Charge is an occurrence (including, without limitation, as set forth in Section 12.2.3) that took place during the Administrative Charges Exclusion Period. However, any Contractor violation of federal, state, or local authority and any resulting fines from these agencies shall continue to be applicable during the Administrative Charges Exclusion Period. 17 ACTIVE:38438749.1