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MAR-lr-04 09:46AM FROM-CITY OF SUNNY ISLES BEACH +3059493113 T-589 P,05/1r F-147 BID SECURITY Accompanying this Bid Is a certified or cashier's check or a bid bond in the amount of:l! 5%_(not less than 5% of the bid) made payable to the Owner Which may be forfeited as liquidafed damages If, in the ellent this proposal is aCCepfed, the undersigned fails to el<ecute the Agreement and furnish and pay for the required performance and payment bonds for the Owner within 10 days alter aCCeptance of the Bid; olhetwise said certified or cashier's check or bid bond Will be retumed to the undersigned. The undersigned Bidder agrees to commence Work within 10 days aller the date Of written Notice to PrClOeed, and further agrees to sUbstanfial/y complete the WOrk within J!1Lcol1Secutive calendar days afler the date of written Notice to Proceed, Subject to SUch extensions of fime allowed by the Conditions of the Contract. The undersigned Bidder also agrees to comPlete the entire work within ~ days after the Contract time commences to run. The undersigned Bidder agrees that this Bid shall be goOd and may not be withdrawn for a periOd of 90 days alter the scheduled Closing lime for receiving bids. The undersigned agrees to forfen to the Owner, as foquidafed <lamages for each calendar day elapsing between the date established as the date of substantial completion and the actual dale of Such substantial completion of the contract work, the amount of $500.00 per calendar day. The Undersigned further agrees to forfeit to the Owner, as Uquida\ed damages for each calendar day elapsing between the date establiShed as the <late of final comPletion and the actual date of final compleUon Of the contract work, the amount of $500.00 per calendar day. RJC OBI03 00300-2 03-135 SIB