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., . Ii . 1'1 . 17.2 The City shall require a deposit from a protestor equal to either 3% of the estimated price quoted, bid, or proposal amount, or $30,000.00 whichever is less, in accordance with Section 62-15 of the Code of Ordinances of the City of Sunny Isles Beach. Failure to follow the protest procedures set forth in Section 62-15 of the City Code shall automatically nullify any protest or claim. 1"'1 . 18. CONTRACT AWARD AND EXECUTION I ., . 18.1 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 and represent the best value to the City in conformity with the criteria set forth in Section 62-8 of the City Code. n ~ 18.2 It is the intent of the City to award this Contract to the bid that represents the best value to, and best serves the interests of, the City. The contract will be awarded to the lowest responsible, responsive bidder on the basis of the queries and investigation described in the Contract Documents and in conformity with the criteria set forth in Section 62-8 of the City Code. 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. . M . Ii . i 18.3 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. r, . ,.., . 18.4 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. n . 1 . 18.5 The contract will be awarded to the lowest responsible, responsive bidder on the basis of the queries and investigation described in the Contract Documents and in conformity with the criteria set forth in Section 62-8 of the City Code. 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 lowest responsible, responsive bidder and the Owner is satisfied that the bidder is qualified to do the Work and have the necessary organization, capital and equipment to carry out the provisions of the contract to the satisfaction of the Owner within the time specified. n . .., . 1""1 . 09/09 001 00-8 03-4122.F II .