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Contract. This indemnification and hold harmless provision shall survive the termination or expiration of this Contract. Article 7. PUBLIC CONSTRUCTION PAYMENT AND PERFORMANCE BOND : The CONTRACTOR shall furnish the COUNTY immediately upon execution of this Contract 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, conditioned upon the performance of this Contract by the CONTRACTOR in accordance with the terms and conditions hereof, within the time herein provided, and with the additional obligation that such CONTRACTOR shall promptly make payments to all persons supplying him labor, materials and supplies, used directly or indirectly by the said CONTRACTOR in the prosecution of the work provided for in this Contract. The Surety shall be authorized to issue surety bonds in Florida and be included in the most recent United States Department of Treasury List of Acceptable Sureties. Bidder shall require the attorney-in-fact, who executed the Payment Bond and the Performance 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 successful Bidder shall 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 . Each of the Payment Bond and Performance Bond shall be submitted in the forms furnished herewith The CONTRACTOR shall provide two separate bonds; a combined Payment and Performance Bond for 125% of the contract price is not an acceptable substitute. Article 8 . REMEDIES AND CHOICE OF LAW: This Agreement shall be governed by the laws of the State of Florida. Any legal actions instituted under this Agreement that are justiciable in state court shall be instituted in Indian River County. Any legal actions instituted under this Agreement that are justiciable in federal court shall be instituted in the Southern District of Florida. No remedy herein conferred upon any party is intended to be exclusive of any other remedy and each and every such remedy shall be cumulative and shall be in addition to every such remedy given hereunder or now or hereafter existing at law or in equity or by statute or otherwise. No single or partial exercise by any party or any right, power, or remedy hereunder shall preclude any other or further exercise thereof. Article 9. GENERAL PROVISIONS 9_l Independent Contractor. The parties expressly recognize that the relationship between the COUNTY and CONTRACTOR is that of OWNER and independent contractor, and that neither the