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8. Payment and Performance Bonds. Except for amendments herein, Article 10 shall remain in full force and effect and nothing herein in this Amendment shall be deemed to modify or change the duties and responsibilities of the CONTRACTOR as it relates to securing a payment bond and performance bond. Each bond must be for the full cost of the Project, excluding the design costs, as required under Section 10.1.2. This is a design build Project and has been since its inception when the CONTRACTOR signed the Agreement on July 21, 2011. The CITY does not waive and has not waived the CONTRACTOR's obligations to secure these necessary bonds. The payment bond is likewise necessary for all persons who are performing services for the CONTRACTOR on a subcontract basis as well as the subcontractors, material men, and other laborers who perform services for the CONTRACTOR during the construction of the Project. Section 10.1 of the Agreement requires the CONTRACTOR to secure these two bonds within fifteen (15) days after the issuance of the Notice to Award which in this instance was in 2011, but in any event prior to commencing the work on the Project. Section 10.1 of the Agreement is amended to require the CONTRACTOR to submit payment and performance bonds, each in the amount of Sixteen Million Two Hundred Forty Thousand Dollars ($16,240,000.000), upon the request of the CITY within five (5) days of issuance of the building permit for the Project. The CITY reserves all of its rights under Article 10 to demand that the CONTRACTOR execute and furnish to the CITY a performance and payment bond in a form reasonably acceptable to the CITY. (a) This Paragraph amends Section 10.2 of the Agreement. Payment and performance bonds shall continue in effect for one (1) year after final payment becomes due except as otherwise provided by law or regulation or by the Contract Documents with the final sum of said bonds reduced after final payment to an amount equal to fifteen percent (15 %) of the Guaranteed Maximum Price. The Parties agrees that Twenty Four Thousand Dollars ($24,000.00) of the GMP shall be for the costs associated with continuing the two bonds at the reduced rate for the time period set forth above. y 9. Site Investigation. Section 13.8 of the Agreement is deleted in its entirety and replaced with the following: CONTRACTOR understands and agrees that any information provided to it by the CITY. at any time, as to any aspect of the Project is not guaranteed. The CONTRACTOR acknowledges that it has satisfied itself as to the nature and location of the Work, the general and local conditions, particularly those bearing upon availability of transportation, disposal, handling and storage of materials, availability of labor, water. electric power, and roads, the conformation and conditions at the ground and all other matters which in any way affect the Work or the Guaranteed Maximum Price. The CONTRACTOR further acknowledges that it has satisfied itself as to the character. quality, and quantity of surface and subsurface materials to be encountered from evaluating information included in the Contract Documents. Any failure by the CONTRACTOR to acquaint itself with all the provided information will not relieve CONTRACTOR from responsibility for properly estimating the difficulty or cost thereof under the Contract Documents. 10. Construction Hours. The CITY agrees to allow the CONTRACTOR to work on Saturdays, if required. y ±14 3 9