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BID SECURITY <br />Accompanying this Bid is a certified or cashier's check or a bid bond in the amount <br />of $ 5% (not less than 5% of the bid) made payable to the Owner which may be <br />forfeited as liquidated damages if, in the event uhn sh proposal is and pay for the requi ed <br />undersigned fails to execute the Agreement and f <br />performance and payment bonds for the Owner within r b d bond II be re tance to <br />the Bid; otherwise said certified or cashiers check <br />the undersigned. <br />The undersigned Bidder agrees to commence work substantially hin 1ldays after the date of <br />written Notice to Proceed, and further agrees to <br />within 20 consecutive calendar days after the to of rite Notice t to aPtoceed, <br />subject to such extensions of time allowed by t he <br />The undersigned Bidder also agrees to complete the entire work within 30 days <br />after the Contract time commences to run. <br />The undersigned <br />' withdrawn for a <br />bids. <br />1 <br />t <br />Bidder agrees that this Bid shall <br />eclos <br />pperiod <br />of 90 days after the scheduled <br />closing <br />time <br />foryrecei receiving <br />The undersigned agrees to forfeit to the Owner, liquidated athedate ogesubstant al <br />calendar day elapsing between the date established <br />completion and the actual date of such substantial completion of the contract <br />work, the amount of $500.00 per calendar day. <br />The undersigned further agrees to forfeit to established liquidated <br />date of final <br />each calendar day elapsing between the date <br />completion and the actual date of final completion of the contract work, the <br />amount of $500.00 per calendar day. <br />' 09/03 00300-3 03 -4l 3 8.A -R <br />