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tCITY OF SUNNY ISLES BEACH Bid No. 01 -09 -01 IPage No. 16 PARKS /MEDIANS/RIGHT -OF -WAY MAINTENANCE SPECIFICATIONS ' BONDING REQUIREMENTS: The bidder, in submitting this bid, must include a 5% bid bond for the total cost of the bid. Such bond may be in the form of a certified or cashier's check or approved bid bond in the amount of 5% of the total amount of the bid based on a two 2) year cost. PERFORMANCE & PAYMENT BONDS: The City of Sunny Isles Beach shall require the successful bidder to furnish performance and ' payment bonds, each in the amount of 100% of the total bid price, for a one (1) year maintenance cost, with the City of Sunny Isles Beach as the obligee, as security for the faithful performance of 1 the contract and for the payment of all persons performing labor or furnishing materials in connection herewith. The bonds shall be with a surety company authorized to do business in the State of Florida. Should the City decide to suspend or discontinue this requirement, the successful bidder shall deduct all premiums for said bonds for the affected contract period. IPRE -BID CONFERENCE - SITE VISITS: It is mandatory that all bidders attend a pre -bid conference and tour of all areas contained in the specifications. Bids will not be accepted from bidders who did not attend the pre -bid conference. No pleas of ignorance by the bidder of conditions that exist, or that may hereinafter exist as a result of failure to make the necessary examinations or investigations or failure to fulfill in every detail ' the requirements of the contract documents, will be accepted as basis for varying the requirements of the City of Sunny Isles Beach or the compensation of the vendor. 1 1 The pre -bid conference and tour will take place on OCTOBER 17, 2 00 1, STARTING AT 10:00 A.M. STEP OFF LOCATION IS AT SUNNY ISLES BEACH CITY HALL LOCATED AT 17070 COLLINS AVENUE, SUITE 9250, SUNNY ISLES BEACH, FLORIDA 33160. Please call (305) 947 -0606 for further information.