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SC-4. 03 Differing Subsurface or Physical Conditions SC-4 . 03 . C . 3 Delete the following text from the second sentence of paragraph GC-4. 03. C. 3: ,arbitration vni nthel: SC-4.06 Hazardous Environmental Conditions at Site SC-4 . 06 . G Delete paragraph GC-4. 06. G in its entirety. SC-4 .06. H Delete paragraph GC-4. 06. H in its entirety. SC-5.01 Performance, Payment and Other Bonds SC-5. 01 .A. Delete paragraph GC-5. 01.A in its entirety and insert the following paragraph in its place: A. Within ten ( 10) days of receipt of the Contract Documents for execution , the CONTRACTOR shall furnish 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. 1 . The CONTRACTOR shall provide two separate bonds. A combined Payment and Performance Bond for 125% of the Contract Price is not an acceptable substitute . 2. Such Bonds shall continue in effect for one ( 1 ) year after acceptance of the Work by the OWNER. 3. The CONTRACTOR shall record , the Payment Bond and the Performance Bond with the Public Record Section of the Indian River County Courthouse located at 2000 16th Avenue , Vero Beach , Florida 32960 . The recorded bonds shall be forwarded to the Indian River County Purchasing Division on or before the seventh day after they are recorded . The CONTRACTOR shall pay all costs. This paragraph may be acceptable to some private developers, but it is NOT acceptable to Indian River County: 4 . In lieu of the Performance and Payment Bonds , the CONTRACTOR may furnish an alternative form of security in the form of cash , money order, certified check, cashier's check, irrevocable letter of credit or a security as listed in Part II of F. S . Chapter 625. Any such alternative form of security shall be for the same purpose , and be for the same amount and subject to the same conditions as those applicable to the bond otherwise required . The determination of the value of an alternative form of security shall be made by the OWNER. SC-5 . 01 . 6. Delete paragraph GC-5. 01 . 8 in its entirety and insert the following paragraph in its place: B. All Bonds shall be in the form prescribed by the Contract Documents except as provided otherwise by Laws or Regulations, and shall be executed by such sureties as are named in the current list of "Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies" as published in Circular 570 (amended ) by the Financial Management Service , Surety Bond Branch , U . S. Department of the Treasury. The sureties for all Bonds must be authorized to issue surety bonds in Florida . The CONTRACTOR shall require the attorney-in-fact who executes any Bond , to affix 00800 - Supplementary Conditions 2006041 00800 5 F:\Pudic Works\Capilal Prolects\Oslo Road\Oslo Widening, Old Dixie to 27th Ave\CONTRACT DOCUMENT00800 - Supplementary Gwditions 2006041 .doc Rea 05101