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I I I I I I I I I I I I I I I I I I I contract without delay IS necessary to protect substantial interests of the Owner. 17.2 The city shall require a deposit from a protester to compensate the Owner for the expenses of administering the protest. If the protest is decided in the protester's favor, the entire deposit shall be returned to the protester. If the protest is not decided in the protester's favor, the deposit shall be forfeited to the Owner. The deposit shall be in the form of a cashier's check and shall be in the amount of 1 % of the amount of the pending award, with a minimum deposit of $500 and a maximum deposit of $10,000. 18. CONTRACT AWARD AND EXECUTION 18.1 18.2 18.3 >k 18.4 18.5 March 2007 Until final award of Contract, the Owner reserves the right to reject any and all Bids, with or without cause; units sole and absolute discretion to waive any informality or irregularity; or to accept the Bid which is in the best interest of the Owner. It is the intent of the Owner to award a Contract to the lowest responsible Total Base Bidder whose Bid is in conformance with the Bidding Documents and does not exceed the funds available. The City reserves the right to negotiate the terms and conditions of the contract with the successful Bidder, if any. These negotiations may include all aspects of the services and fees. Neither the selection of a successful Bidder on subsequent negotiations shall bind the City until the Contract is approved by the City Commission and thereafter executed by the Mayor. Upon approval of the Contract by the City Commission, the successful Bidder shall deliver the executed Contract, along with required bonds and any other items requested, to the Owner within 10 days. Failure to do so will be deemed a breach of agreement by the Bidder and result in forfeiture of bid security as described in the Instructions to Bidders. The Owner reserves the right to hold all proposals and bid guarantees for a period not to exceed 90 days after the date of bid opening stated in the Advertisement for Bids. The award of the contract, if it is awarded, will be to the lowest responsible total base bidder whose qualifications indicate the award will be in the best interest of the Owner and whose proposal shall comply with the requirements of the Contract Documents. Time is of the essence for this project and the time limits set in the proposal, if set by the bidder, will be accorded weight by the Owner in the determination of the best proposal. In no case will the award be made until all necessary investigations have been made into the responsibility of the low bidder and the Owner is satisfied that the bidder is qualified to do the Work and have the necessary organization, 001 00-8 03-4122.0