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the delivery by the Contractor of this Contract a Labor and <br /> Material Payment Bond and a Performance Bond in the form as <br /> attached hereto and made a part hereof as Exhibits 4 and 5 in the <br /> penal sums of the full monetary amount of the Contract, <br /> guaranteeing the faithful perform�nce of the work in accordance <br /> with the terms of the Contract and the payment of all labor and <br /> material used in connection with the performa.nce of the terms of <br /> the Contract. <br /> 8 . Insurance. The Contractor is required to comply with the <br /> terms of Exhibit 7 attached hereto, made a part hereof and <br /> incorporated herein as to insurance coverages and conditions which <br /> must be obtained in order to fulfill the terms of this Contract. <br /> 9 . Bonds and Certificate Deliverv. If the Certificates of <br /> Insurance required under paragraph 8 or the executed Labor and <br /> Material Payment Bond or the Performance Bond are not presented and <br /> delivered to the Authority within ten ( 10) days after the Notice of <br /> Award (Exhibit 2) is given to Contractor along with the delivery by <br /> the Contractor to the Authority of two copies of this Contract <br /> executed by Contractor then the Authority, at its option, may <br /> declare that the Contractor shall have no further rights in said <br /> Contract or the project. <br /> 10 . Relationshi� between Parties . <br /> (a) The relationship between the Contractor and the Authority <br /> (or the Engineer of the Authority) shall be that of the Contractor <br /> being an independent Contractor separate and apart from the <br /> -9- <br /> � <br />