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40 40 4M t - 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 [honer believes to have a reasonable chance of receiving tate award may be retained by Owner until the earlier of the seventh day atter 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 t day alter the Bid opening. Bid Security of other Bidders will be returned within sixty days of the Bid opening. Y Y 7. ['nrttmat Ti= I The number of days within which, or the date by which, the Work is to be completed (the 1 Contract Time) is set forth in the Bid Form and will be included in the Agreement. l 8. 1 _ quida ed Damages i It is understood and agreed that if the project is not completed within the contract time, the ! County will apply liquidated damages. The amount of damages is set forth in the Bid Form t and will be included in the Agreement. The damages will be deducted from monies due the Contractor, not to exceed the total contract price. { 9, Substitute Mater" l and Equipment t The Contract, if awarded, will be on the basis of material and equipment described in the I 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 I 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 I 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. SuhcD= tors, etc. I 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 r Award. The apparent Successful Bidder, and any other Bidder so requested. ■will within seven days after the day of the Bid opening submit to Owner a list of all Subcontractors and other persons and organizations (including those who are to y furnish the principal items of material and equipment) proposed for those portions s 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 I projects and other evidence of qualification for each such Subcontractor, person and t organization ifrcquested by Owner. If Owner or Engineer atter due investigation has reasonable objection to any proposed S01contractor, other person or organization, either may before giving the Notice of Award request the apparent Successful Bidder to submit an acceptable substitute without an i9crease in Bid price. If the apparent Successful Bidder declines to make any such substitution, the contract shall not be awarded to such Bidder, but his declining to make any such substitution will not r. Bit) PROPOSAL IR 1 L