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<br />I <br /> <br />BID SECURlTY <br /> <br />I <br /> <br />Accompanying this Bid is a certified or cashier's check or a bid bond in the amount of S 5%_of the bid or <br />$5,000.00, whichever is less made payable to the Owner which may be forfeited as liquidated damages if, <br />in the event this proposal is accepted, the undersigned fails to execute the Agreement and furnish and pay <br />for the required performance and payment bonds for the Owner within 10 days after acceptance of the <br />Bid; otherwise said certified or cashier's check or bid bond will be returned to the undersigned. <br /> <br />I <br /> <br />The undersigned Bidder agrees to commence work within lQ days after the date of written Notice to <br />Proceed, and further agrees to substantially complete the work within 70 conse~utive calendar days after <br />the date of written Notice to Proceed, subject to such extensions of time allowed by the Conditions of tile <br />Contract. <br /> <br />The undersigned Bidder also agrees to complete the entire work within 70 days after the Contract time <br />commences to run. <br /> <br />The undersigned Bidder agrees that this Bid shall be good and may not be withdrav,:n li)r a period of 60 <br />days after the scheduled closing time for receiving bids. <br /> <br />The undersigned agrees to forfeit to the Owner, as liquidated damages for each calendar Jay elapsing <br />between the date established as the date of substantial completion and the actual date of slIch substantial <br />completion of the contract work, the amount of $500.00 per calendar day. <br /> <br />The undersigned further agrees to forfeit to the Owner, as liquidated damages far each calendar day <br />elapsing between the date established as the date of final completion and the actllal date of final <br />completion of the contract work, the amount of $500.00 per calendar day. <br /> <br />05/06 <br /> <br />00300.3 <br /> <br />03-4122E <br /> <br />· t- <br />