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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 this proposal is accepted, the <br />undersigned fails to execute the Agreement and furnish and pay for the required <br />performance and payment bonds for the Owner within 10 days after acceptance of <br />1 the Bid; otherwise said certified or cashier's check or bid bond will be returned to <br />the undersigned. <br />tThe undersigned Bidder agrees to commence work within 10 days after the date of <br />written Notice to Proceed, and further agrees to substantially complete the work <br />within 20 consecutive calendar days after the date of written Notice to Proceed, <br />subject to such extensions of time allowed by the Conditions of the Contract. <br />The undersigned Bidder also agrees to complete the entire work within 30 days <br />after the Contract time commences to run. Sze - <br />The undersigned Bidder agrees that this Bid shall be good and may not be <br />withdrawn for a period of 90 days after the scheduled closing time for receiving <br />bids. <br />The g g <br />undersigned agrees to forfeit to the Owner, as liquidated damages for each <br />calendar day elapsing between the date established as the date of substantial <br />completion and the actual date of such substantial completion of the contract <br />work, the amount of $500.00 per calendar day. <br />tThe undersigned further agrees to forfeit to the Owner, as liquidated damages for <br />each calendar day elapsing between the date established as the date of final <br />L <br />t <br />completion and the actual date of final completion of the contract work, the <br />amount of $500.00 per calendar day. <br />07/03 00300 -3 03-4138.A <br />