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<br />- <br /> <br />BID SECURITY <br /> <br />Accompanying this Bid is a certified or cashier's check or a bid bond in the amount of 1 <br />5 % of the bid payable to the Owner which may be forfeited as liquidated damages if, in <br />the event this proposal is accepted, the undersigned fails to execute the Agreement and <br />furnish and pay for the required performance and payment bonds for the Owner within 10 <br />days after acceptance of the Bid; otherwise said certified or cashier's check or bid bond <br />will be returned to the undersigned. <br /> <br />The undersigned Bidder agrees to commence work within 1Q days after the date of written <br />Notice to Proceed, and further agrees to substantially complete the work within 130 <br />consecutive calendar days after the date of written Notice to Proceed, subject to such <br />extensions of time allowed by the Conditions of the Contract. <br /> <br />The undersigned Bidder also agrees to complete the entire work within 160 days after the <br />Contract time commences to run. <br /> <br />The undersigned Bidder agrees that this Bid shall be good and may not be withdrawn for a <br />period of 60 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 <br />day elapsing between the date established as the date of substantial completion and the <br />actual date of such substantial completion of the contract work, the amount of $1,500.00 <br />per calendar day. <br /> <br />The undersigned further agrees to forfeit to the Owner, as liquidated damages for each <br />calenda r day elapsing between the date established as the date of final completion and the <br />actual date of final completion of the contract work, the amount of $1,000.00 per <br />calenda r day. <br /> <br />09/09 <br /> <br />00300-4 <br /> <br />03-4122.F <br />