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0 • CI 0.2. The Bid Security of the Successful Bidder will be retained until such Bidder has executed the Agreement and furnished the required Contract Security, whereupon it will be returned; if the successful Bidder fails to execute and deliver the Agreement and furnish the required Contract Security within 15 days of the Notice of Award, Owner may annul the Notice of Award and the Bid Security of that Bidder will be forfeited. The Bid Security of any Bidder whom Owner believes to have a reasonable chance of receiving the award may be retained by Owner until the earlier of the seventh day after the "effective date of the Agreement" (which term is defined in the General Conditions) and the required Contract Security is furnished or the sixty-first day after the Bid opening, Bid Security of other [udders will be returned within sixty days of the Bid opening. Contract Tires The number of days within which, or the date by which, the Work is to be completed (the Contract Time) is set forth in the Bid Form and will be included in the Agreement. It is understood and agreed that if the project is not completed within sixty (00) calendar days from issuance of a Notice to Proceed, the County will apply liquidated damages sof $1001calendar day. The damages will be deducted from monies due the Contractor, not to exceed the total contract price. 9. Substitute Material and_q_u prime, The Contract, if awarded, will be on the basis of material and equipment described in the Drawings or specified in the Specifications without consideration of possible substitute or "or -equal" items. Whenever it is indicated in the Drawings or specified in the Specifications that a substitute or "or -equal" item of material or equipment may be furnished or used by Contractor if acceptable to Engineer, application for such acceptance will not be considered by Engineer until after the "effective date of the Agreement". The procedure for submittal of any such application by Contractor and consideration by Engineer is set forth in Paragraph 6.1 of the General Conditions. 10. Subcontractors etc_ 10,1, The General Conditions require the identity of certain Subcontractors and other persons and organizations to be submitted to Owner in advance of the Notice of Award. The apparent Successful Bidder, and any other Bidder so requested, will within seven days after the day of the laid opening submit to Owner a list of all Subcontractors and other persons and organantions (including those who are to furnish the principal items of materiat and equipment) proposed for those portions of the Work as to which such identification is so required. Such list shall be accompanied by an experience statement with pertinent information as to similar projects and other evidence of qualification for each such Subcontractor, person and organization if requested by Owner. If Owner or Engineer after due investigation has reasonable objection to any proposed INSTRUCTIONS TO BIDDERS n.