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I 1 11.2 After the bid opening, no Bid may be withdrawn, canceled or modified for a period of 90 days after the time and date designated for the receipt of bids. 12.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. 13. 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. 14. LIQUIDATED DAMAGES 14.1 The Owner may incur financial loss if the Work is not substantially complete by the date set forth in the Agreement. The Contractor (and his Surety) shall be liable for liquidated damages in accordance with the Supplementary Conditions and the Agreement. 15. PERFORMANCE BOND AND LABOR AND MATERIAL PAYMENT BOND 15.1 With the execution and delivery of the Contract, the Bidder shall furnish the following Surety bonds of the forms contained herein: a. Performance Bond guaranteeing full and faithful execution of the Work in an amount equal to 100 percent of the Contract Sum, and including guaranteed repair and maintenance of all defects due to faulty materials and workmanship that appear within one year after completion of contract. b. Labor and Material Payment Bond guaranteeing full and proper protection of all claimants supplying labor and materials in the Work in an amount equal to 100 percent of the Contract Sum. 15.2 Bonds shall be executed by Surety authorized to do business in the State of Florida and listed on the latest U.S. Treasury Department list of companies holding certificates of authority as acceptable sureties on Federal Bonds. 15.3 Bonds executed by an Attorney -in -Fact on behalf of the Surety, shall have affixed thereto a certified and current copy of Power of Attorney, indicating the monetary limit of such power. ' 15.4 Qualifications: As to companies being rated acceptable: 1 07/03 00100 -5 03- 4138.A