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19. BID BONDS/DEPOSITS Each bid must be accompanied by a Bid Bond or Deposit in a sum of not less than five percent (5%) of the total bid. Bid Bonds and deposits amounting to less than one hundred dollars need not be submitted. All checks should be made payable to the County. If the successful bidder fails to deliver as indicated in the Special Terms and Conditions, does not conform to specifications or fails to perform as agreed upon, the County shall be entitled to retain the deposit to rectify the bidder's unacceptable performance The only types of acceptable surety will be: 1. Bid Bond signed by a surety company authorized to do business in the State of Florida. 2. Cashier Check. 3. Certified Check drawn on a responsible financial institution. 4. U S. Postal Money Order. The County reserves the right to hold the bid security of the three (3) best value bidders until the contract is properly executed. Bid deposits of other unsuccessful bidders will be returned after award of the contract. 20. PRE-BID SITE INSPECTION AND PRE-BID CONFERENCE SITE INSPECTION - NONE PRE-BID CONFERENCE — MANDATORY — Wednesday, September 10, 2014 — See Page 100-2, Advertisement for Bid 21. TIME OF COMPLETION AND LIQUIDATED DAMAGES BASE BID — TIME FRAME The work to be performed as part of the BASE BID project timeframe shall commence on the date of the written notice to proceed given by the County, which is anticipated to be issued on November 10, 2014. All work that is to be performed as part of this contract shall be substantially completed by the 60th day and totally 100% completed by the 75th day, with such extensions of time in calendar days as are provided for in the General Terms and Conditions outlined below. If said work is not substantially completed within the specified timeframes listed above, the contractor shall be liable and hereby agrees to pay the owner as liquidated damages, and not as a penalty, the sum of $758.00 dollars per calendar day between the date Substantial Completion of the work is achieved and the Final 100% Completion date and or Acceptance by the County for each and every day or part of a day thereafter that said work remains incomplete. 53