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<br />I <br />I <br />I <br />I <br />I <br />,I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />10. BID SECURITY <br /> <br />10.1 Each Bid shall be accompanied by a cashiers check drawn on any State <br />or National Bank in Florida, or an acceptable Bidders Bond, payable <br />unconditionally to the Owner, in an amount of five percent (5%) of the <br />amount of the total Bid or $5,000.00, whichever is less. <br /> <br />10.2 Failure of the successful Bidder to enter into the Contract in accordance <br />with his Bid, or failure to furnish the required bonds will be just cause for <br />an annulment of the award with the amount of the bid security being <br />forfeited to the Owner as liquidated damages, not as a penalty. <br /> <br />10.3 Should a Bid Bond be used, acceptable surety companies shall be <br />determined from the latest United States Treasury Department's list of <br />companies holding certificates of authority as acceptable Sureties on <br />Federal Bonds. Requirements for Acceptable Surety Companies are <br />outlined in Item 15.4. <br />10.4 The Owner may retain the bid security of those Bidders to whom an award <br />may be considered until successful execution of the Contract and bonds; <br />or the specified time for holding bids has elapsed; or all Bids have been <br />rejected. <br /> <br />11. MODIFICATION AND WITHDRAWAL OF BID <br /> <br />11.1 Prior to the time of bid opening, a Bidder may withdraw his Bid at any <br />time, but may not resubmit it. Bids may not be modified after submittal. <br /> <br />11.2 After the bid opening, no Bid may be withdrawn, canceled or modified for <br />a period of 90 days after the time and date designated for the receipt of <br />bids. <br /> <br />12. OPENING OF BIDS <br /> <br />12.1 Bids submitted will be opened publicly and read aloud at the time and <br />place stated in the Advertisement for Bids. <br /> <br />13. GOVERNING LAWS AND REGULATIONS <br /> <br />13.1 Bidders shall be familiar with all federal, state, and local laws, ordinances, <br />rules, and regulations that may in any way affect the Work. <br /> <br />13.2 Trench Safety Act: The Occupational Safety and Health Administration <br />excavation safety standards, 29 CFR 1926.650 Subpart P trench safety <br />standards will be in effect during the period of construction of the Project. <br />In compliance with current State of Florida statutes, the Bidder shall <br />provide documentation required by the Florida Trench Safety statute to the <br />Owner, in conjunction with the Bid Form. <br /> <br />04/08 Final Version <br /> <br />00100-5 <br /> <br />___J <br />