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10.4 The Owner may retain the bid security of those Bidders to whom an award <br />may be considered until successful execution of the Contract and bonds; or <br />the specified time for holding bids has elapsed; or all Bids have been <br />rejected. <br />1 1 . MODIFICATION AND WITHDRAWAL OF BID <br />1 1 .1 Prior to the time of bid opening, a Bidder may withdraw his Bid at any time, <br />but may not resubmit it. Bids may not be modified after submittal. <br />11.2 After the bid opening, no Bid may be withdrawn, canceled or modified for a <br />period of 90 days after the time and date designated for the receipt of bids. <br />12. OPENING OF BIDS <br />12.1 Bids submitted will be opened publicly and read aloud at the time and place <br />stated in the Advertisement for Bids. <br />13. GOVERNING LAWS AND REGULATIONS <br />13.1 Bidders shall be familiar with all federal, state, and local laws, ordinances, <br />rules, and regulations that may in any way affect the Work. <br />13.2 Trench Safety Act: The Occupational Safety and Health Administration <br />excavation safety standards, 29 CFR 1926.650 Subpart P trench safety <br />standards will be in effect during the period of construction of the Project. In <br />compliance with current State of Florida statutes, the Bidder shall provide <br />documentation required by the Florida Trench Safety statute to the Owner, in <br />conjunction with the Bid Form. <br />14. LIQUIDATED DAMAGES <br />14.1 The Owner may incur financial loss if the Work is not substantially complete <br />by the date set forth in the Agreement. The Contractor (and his Surety) shall <br />be liable for liquidated damages in accordance with the Supplementary <br />Conditions and the Agreement. <br />15. PERFORMANCE BOND AND LABOR AND MATERIAL PAYMENT BOND <br />15.1 With the execution and delivery of the Contract, the Bidder shall furnish the <br />following Surety bonds of the forms contained herein: <br />a. Performance Bond guaranteeing full and faithful execution of the <br />Work in an amount equal to 100 percent of the Contract Sum, and <br />including guaranteed repair and maintenance of all defects due to <br />faulty materials and workmanship that appear within one year after <br />completion of contract. <br />07/06 00100 -5 05 -5564 <br />