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I I 1 I I I I I I I I I I I I I I I I 29. 30. 31. 32. . operations covered, effective dates and date of expiration of policies. Such certificates shall also contain substantially the following statement: "The insurance covered by this certif- icate will not be cancelled or materially altered, except after (10) days written notice has been received by the Owner." Contract Security The Contractor shall furnish a performance bond in an amount at least equal to one hundred percent (100%) of the contract prices as securi ty for the fai thful performance of thi s Contract and also a payment bond in an amount not less than one hundred percent (100%) of the contract price or in a penal sum not less than that prescribed by State, territorial or local ~aw, as security for the payment of all persons performi ng 1 abor on the project under thi s Contract and furnishing materials in connection with this Contract. The perform- ance bond and the payment bond may be in one or in a separate instru- ment in accordance with local law. Additional or Substitute Bond If at any time the Owner for justifiable cause shall be or become di ssati sfied wi th any surety or sureti es, then upon the Performance or Payment Bonds, the Contractor shall within five (5) days after notice from the Owner so to do, substitute an acceptable bond (or bonds) in such form and sum and signed by other surety or sureties as may be satisfactory to the Owner. The premiums on such bonds shall be pa i d by the Contractor. No further payments sha 11 be deemed due nor shall be made until the new surety or sureties Shall have fur- nished such an acceptable bond to the Owner. Assignments The Contractor shall not assign the whole or any part of this Contract or any monies due or to become due hereunder without consent of the Owner. In case the Contractor assigns all or any part of any monies due or to become due under this contract, the instrument of assignment shall contain a clause substantially to the effect that it is agreed that the ri ght of the assignee i nand to any monies due or become due to the Contractor shall be subject to prior claims of all persons, firms, and corporations of services rendered or material s supplied for the performance of the work called for in this Contract. Mutual Responsibility of Contractors If, through acts of neglect on the part of the Contractor, any other Contractor or any subcontractor shall suffer loss or damage on the work, the Contractor agrees to settle with such other Contractors or subcontractors by agreement or arbitration if such other Contractor or subcontractor wi 11 so settl e. If such other Contractor or sub- contractor shall assert any claim against the Owner on account of any damage alleged to have been sustained, the Owner shall notify the Contractor, who shall indemnify and save harmless the Owner against any such claim. VIII-H-13