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1 <br /> BID SECURITY <br /> Accompanying this Bid is a certified or cashier's check or a bid bond in the amount of $ 5% of <br /> the bid made payable to the Owner which may be forfeited as liquidated damages if, in the <br /> event this proposal is accepted, the undersigned fails to execute the Agreement and furnish and <br /> pay for the required performance and payment bonds for the Owner within 10 days after <br /> acceptance of the Bid; otherwise said certified or cashier's check or bid bond will be returned to <br /> the undersigned. <br /> The undersigned Bidder agrees to commence work within 10 days after the date of written <br /> 1 Notice to Proceed, and further agrees to substantially complete the work within 160 consecutive <br /> calendar days after the date of written Notice to Proceed, subject to such extensions of time <br /> allowed by the Conditions of the Contract. <br /> The undersigned Bidder also agrees to complete the entire work within 170 days after the <br /> Contract time commences to run. <br /> The undersigned Bidder agrees that this Bid shall be good and may not be withdrawn for a <br /> period of 60 days after the scheduled closing time for receiving bids. <br /> The undersigned further agrees to forfeit to the Owner, as liquidated damages for each calendar <br /> day elapsing between the date established as the date of final completion and the actual date of <br /> final completion of the contract work, the amount of $2,000.00 per calendar day. <br /> The Owner agrees, as a bonus for each calendar day of early completion before the date <br /> established as the date of final completion and the actual date of final completion of the contract <br /> 1 work, the amount of $2,000.00 per calendar day. The bonus is limited to a maximum of <br /> $60,000.00. <br /> 1 <br /> 1 <br /> 1 <br /> 1 <br /> 1 <br /> 1 <br /> 1 <br /> 05/08 00300-5 05-4893 <br />