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' 9.2 Deposit Bids at the designated location on or before the time and date for receipt of Bids indicated in the Advertisement for Bids. Bids received after the time and date indicated ' for receipt of Bids will be returned unopened. 10. BID SECURITY ' 10.1 Each Bid shall be accompanied by a cashiers check drawn on any State or National Bank in Florida, or an acceptable Bidders Bond, payable unconditionally to the Owner, in an amount of five percent (5 %) of the amount of the total Bid or $5,000.00, whichever is t less. 10.2 Failure of the successful Bidder to enter into the Contract in accordance with his Bid, or ' failure to furnish the required bonds will be just cause for an annulment of the award with the amount of the bid security being forfeited to the Owner as liquidated damages, not as a penalty. ' 10.3 Should a Bid Bond be used, acceptable Surety companies shall be determined from the latest United States Treasury Department's list of companies holding certificates of authority as acceptable Sureties on Federal Bonds. Requirements for Acceptable Surety Companies are outlined in Item 15.4. t 10.4 The Owner may retain the bid security of those Bidders to whom an award may be considered until successful execution of the Contract and bonds; or the specified time for holding bids has elapsed; or all Bids have been rejected. ' 11. MODIFICATION AND WITHDRAWAL OF BID 11.1 Prior to the time of bid opening, a Bidder may withdraw his Bid at any time, but may not ' resubmit it. Bids may not be modified after submittal. 11.2 After the bid opening, no Bid may be withdrawn, canceled or modified for a period of 90 ' days after the time and date designated for the receipt of bids. 12. OPENING OF BIDS ' 12.1 Bids submitted will be opened publicly and read aloud at the time and place stated in the Advertisement for Bids. t13. GOVERNING LAWS AND REGULATIONS 13.1 Bidders shall be familiar with all federal, state, and local laws, ordinances, rules, and regulations that may in any way affect the Work. 13.2 Trench Safety Act: The Occupational Safety and Health Administration excavation ' safety standards, 29 CFR 1926.650 Subpart P trench safety standards will be in effect during the period of construction of the Project. In compliance with current State of Florida statutes, the Bidder shall provide documentation required by the Florida Trench ' Safety statute to the Owner, in conjunction with the Bid Form. 1 12/04 00100 -4 03 -4138