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COMMENCEMENT OF WORK The work shall commence within 7 days of the Notice to Proceed , which is subject to construction completion of the new Indian River County Biosolids Dewatering Facility . REQUIRED BONDS (IF PROJECT COST EXCEEDS $251000 . 00) Bid Security : Each bid must be accompanied by a cashier' s check, certified check or bid bond in the form attached to these specifications payable to Indian River County in the amount of five ( 5 ) percent of the bid submitted . Bid security will be forfeited if the successful bidder fails to execute a contract with Indian River County substantially in the form attached hereto within fifteen ( 15 ) days after notification of award of the contract. The OWNER shall within twenty (20) business days after the opening of the bids , return the bid securities of all bidders except those posted by the three lowest responsive bidders, whose bid securities will be returned upon the final award and execution of the contract between the successful bidder and the OWNER, and after proof of insurance and/or a Performance Bond as specified herein has been received by OWNER . Payment and Performance Bonds : Tile successful Bidder as Contractor shall furnish the County immediately upon execution of the Contract a Performance Bond in an amount equal to 100 percent of the contract price and a. Payment Bond in an amount equal to 100 percent of the contract price , each in the form provided in the Contract Documents . The Surety shall be authorized to issue surety bonds in Florida and be included in the most recent United States Department of Treasury List of Acceptable Sureties . The successful Bidder shall require the attorney-in -fact, who executed the Payment Bond and the Performance Bond , to affix to each a current certified copy of their Power of Attorney, reflecting such person ' s authority as Power of Attorney in the State of Florida . Further, at the time of execution of the Contract, the successful Bidder shall provide a copy of the Surety' s current valid Certificate of Authority issued by the United States Department of the Treasury under 31 United States Code sections 9304- 9308 . The Contractor shall provide two separate bonds ; a combined Payment and Performance Bond for 100 percent of the contract price is not an acceptable substitute . DEFECTIVE EQUIPMENT All equipment furnished or work performed , when not in accordance with the intent of these Specifications , shall be rejected and shall be removed immediately and replaced by suitable and satisfactory equipment . Failure to reject any defective work or equipment will not prevent later rejection when such a defect is discovered and shall not relieve the CONTRACTOR of his obligation to fulfill his contract even though such work and equipment have been previously inspected by the OWNER and accepted ; it shall not obligate the OWNER to final acceptance nor shall it prevent the OWNER in any time subsequent from recovering damages from work actually shown to be defective within a one ( 1 ) year period after the final acceptance . If the CONTRACTOR fails to remove any defective work or equipment, the OWNER shall have the right to stop work and remedy the cause at the expense of the CONTRACTOR . If the OWNER deems it expedient to accept minor imperfect work, the OWNER shall have the right to retain such work and an equitable deduction shall be made in the Conti-act price . SAFETY AND PROTECTION Safety. The CONTRACTOR shall furnish and install all necessary equipment and facilities for the protection of the workers and the safety of the public and shall cavy on this work in a manner best calculated to avoid injury to the public or to the workers . Protection of Adjacent Property and Utilities : The CONTRACTOR shall conduct his work in such a manner as to avoid damage to adjacent private or public property and shall immediately repair or pay for any damage incurred through his operations . The CONTRACTOR shall take cognizance of all existing utilities and he shall operate with due care in the vicinity of such utilities and shall immediately repair or have repaired at no additional costs to the OWNER any breakage or damage caused by his operation . Should the OWNER be a ' required to make such repairs , the cost of such repairs shall be deducted from the contract price . Page 13 of 47