1998-07-27 Regular Meeting and Workshop Meeting of City Council

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e e written confirmation is not. received within two (2) days from the closing time, no consideration will be given to t.he telegraphic modification. QUALIFICATIONS OF BIDDER The Owner may make such investigations as he deems necessary to determine the ability of the bidder to perform the work, and the bidder shall furnish to the Owner all such information and data for this purpose as the Owner may request. The Owner reserves the right to reject any bid if the evidence submitted by, or investigation of, such bidder fails to satisfy the Owner that such bidder is properly qualified to carry out the obligations of the contract and to complete the work contemplated therein. Conditional bids will not. be accepted. BID SECURITY Each bid must be accompanied by a cashie~s check, a certified check of the bidder, or a bid bond prepared, duly executed on the form enclosed herein by the bidder as principal and having as surety thereon a surety company approved by the Owner, in the amount of five percent (5%) of the bid. Such checks or bid bonds will be returned to all except the three (3) lowest bidders within three (3) days after the opening of bids, and the remaining checks or bid bonds will be returned promptly after the Owner and the accepted bidder have executed the contract, or, if no award has t;>een made within thirty (30) days after the date of the opening of bids, upon demand of the bidder at any time thereafter, so long as he has ,not been notified of the acceptance of his bid. LIQUIDATED DAMAGES FOR FAILURE TO ENTER INTO CONTRACT The sucCessful bidder, upon his failure or refusal to exec~te and deliver the contract and bonds required within ten (10) days after he has received notice of the acceptance of his bid, shall forfeit to the Owner, as liquidated damages for such failure or refusal, the security deposited with his bid. TIME OF COMPLETION AND LIQUIDATED DAMAGES Time is of the essence in this project and the contractor must diligently pursue the construction of the work so as to offer it for final acceptance by the Owner within the time limit specified in the proposal. Liquidated damages of $100.00 per day shall be chargeable for each day the work remains incomplete past the stated time limit. CONDITIONS OF WORK Each bidder must inform himself fully of the conditions relating to the construction of the project and the employment of labor thereon. Failure to do so will not relieve a successful bidder of his obligation to furnish all material and labor necessary to carry out the provisions of his contract. Insofar as possible the contractor, in carrying out his Instrudions to Bidders 2 of 4