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40 <br />1 May 25, 1999 <br />2. Within ten (10) days from the date of acceptance of this proposal, to execute the Contract and to <br />furnish Indian River County a Performance Bond in an amount equal to 125% of the contract price <br />and a Payment Bond in the amount equal to 100% of the contact price. <br />The contractor shall provide two separate bonds a combined Payment and Performance Bond for <br />125% of the contact price is not an acceptable substitute. <br />3. To begin work within twenty (20) calendar days a(ler the date of receipt by him of Notice -to - <br />Proceed, and to complete the work not later than the number of calendar days specified in the General <br />Conditions, Paragraph 10 (GC -3). <br />4. To reimburse Indian River County, as liquidated damages, for each calendar day elapsing between <br />the date herein specified as the date of frill completion and the actual date of such full completion of <br />the contract work, the amount as set out in the hlodda Department of Transportation (FDOT), <br />Standard Snecificati_nm fnr Road and T1rL1 e !' .. ' <br />to exceed the total contract price. <br />u . vnau u tiuii tAteSl eU1nUn, under lection ti -10.2., not <br />Dated this day of —j"y `A _ 19 <br />t_ <br />Respectfully submitted, <br />Contractor <br />Address <br />V.R .) FL .3 La w <br />City/State <br />BP 2