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C. All Bidders will acknowledge in the space provided for in Section 00300 BID <br />FORM, the receipt of all Addenda and will confirm that the Addenda have been <br />considered in the preparations of their proposal. <br />1.06 BID SECURITY <br />A. Each Bid must be accompanied by Bid security made payable to Owner in an <br />amount of five percent of the Bidder's maximum base bid price and in the form of <br />a certified or cashiers check or an AIA Document A310 Bid Bond issued by a <br />surety meeting the requirements of Paragraph 5.01 of the General Conditions. <br />B. The Bid security of the Successful Bidder will be retained until such Bidder has <br />executed the Agreement and furnished the required Contract security, whereupon <br />the Bid security will be returned. If the Successful Bidder fails to execute and <br />deliver the Agreement and furnish the required Contract security within fifteen <br />days after the Notice of Award, Owner may annul the Notice of Award, and the <br />Bid security of that Bidder will be retained by the County. <br />The Bid security of other Bidders whom Owner believes to have a reasonable <br />chance of receiving the award may be retained by the Owner until the earlier of. <br />the seventh (7) day after the effective date of the Agreement or the ninety-first <br />(9 1) day after the Bid opening, whereupon Bid security furnished by such Bidders <br />will be returned. Bid security with bids which are not competitive may be returned <br />before the end of the ninety -day (90) period. <br />1.07 CONTRACT TIME <br />The number of days within which, or dates by which, the work is to be substantially <br />completed and also complete and ready for final payment (the Contract Time) are set <br />forth in the Bid Form (Section 00300) and the Agreement (Section 00530). <br />1.08 LIQUIDATED DAMAGES <br />Provisions for liquidated damages are set forth in the Agreement (Section 00530). <br />1.09 SUBSTITUTE OR "OR EQUAL" ITEMS <br />The Contract, if awarded, will be on the basis of materials and equipment described in the <br />Drawings or specified in the Specifications without consideration of possible substitute or <br />"or equal" items. Whenever it is indicated in the Drawings or specified in the <br />Specifications that a substitute or "or equal" item of material or equipment may be <br />furnished or used by Contractor if acceptable to Engineer, application for such acceptance <br />will not be considered by Engineer until after the Effective Date of the Agreement. The <br />procedure for submission of any such application by Contractor and consideration by <br />Engineer is set forth in Paragraph 6.05 of the General Conditions and may be <br />supplemented in the General Requirements. <br />00100-4 <br />