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1 ' assist in the evaluation of any Bid and establish the responsibility , P Y . qualifications , and financial ability of Bidders , proposed subcontractors , ' suppliers , and other persons and organizations to perform and furnish the work in accordance with the Contract Documents to Owner's satisfaction within the prescribed time . ' 15 . 5 If the Contract is to be awarded , it will be awarded to the lowest Bidder whose evaluation by Owner indicates to Owner that the award will be in ' the best interests of the Project . 15 . 6 If the Contract is to be awarded , Owner will give the Successful Bidder a ' Notice of Award within sixty days after the day of the Bid opening . 15 . 7 More than one Bid from an individual , firm , partnership , corporation , or ' association under the same or different names will not be considered . Reasonable grounds for believing that one Bidder is financially interested in more than one proposal for the same work will cause the rejection of all ' proposals in which such Bidders are believed to be interested . Any or all proposals will be rejected if there is reason to believe that collusion exists among the Bidders , and no participants in such collusion will be ' considered in future proposals for the same work . 15 . 8 Within ten ( 10 ) calendar days of the date of award of the Contract , the ' Bidder to whom the Contract is awarded shall execute and deliver the necessary documents entering into the Contract with the Owner. Payment Bond for the total amount of the Bid and Performance Bond for ' 125 % of the Bid shall have been furnished , executed , and delivered before the Contract will be executed by the Owner. 15 . 9 Failure upon the part of the Bidder to whom the Contract has been ' awarded to execute and deliver the Contract and the Surety Corporation Bond in the manner and within the time provided shall be just cause for annulment of the award and for the exclusion of the Bidder from bidding ton subsequent projects , at the Owner's discretion . It is understood and agreed by said Bidder, that if the award is annulled for the above persons , the certified check or Bid Bond shall become the property of the Owner, ' not as a penalty , but as liquidated damages . 16 . CONTRACT SECURITY ' Paragraph 5 . 1 of the General Conditions and the Supplementary Conditions set forth Owner' s requirements as to Performance and Payment Bonds . When the Successful ' Bidder delivers the executed Agreement to Owner, it must be accompanied by the required Performance and Payment Bonds . ' The Performance Bond shall contain a specific provision that delay damages are covered by the Performance Bond . ' 044572000 00100 - 7