16-DELIBERATE/ACT ON RES ACCEPTING BID AND AWARDING CONTRACT FOR 2011-2012 WATER AND WASTEWATER CAPITAL IMPROVEMENTS TO FOUR THIRTEEN INC FOR $345,155.10

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questions answered by formal written Addenda will be binding. Ora1 and other interpretations or clarifications will be without legal effect, whether by ENGINEER, or by any officer, agent, or employee of OWNER or ENGINEER, or any other person. 5.2 Addenda may also be issued to modify the Bidding Documents as deemed advisable by OWNER or ENGINEER. 6. Bid Securitv 6.1 Each Bid must be accompanied by Bid security made payable to OWNER in an amount of five percent (5%) of the Bidder's maxunum Bid price and in the form of a certified or bank check or a Bid Bond (on form attached, if a form is prescribed) issued by a su.rety, meeting the requirements of the General Conditions. 6.2 The Bid security of the Successful Bidder will be retained until such Bidder has executed the Agreement and furnished the required contract securiry, whereupon the Bid security will be retumed. If the Successful Bidder fails to execute and deliver the Agreement and furnish the required contract security within fifteen (15) days after 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 other Bidders whom OWNER believes to have a reasonable chance of receiving the award may be retained by OWNER until the eazlier of the seventh (7h) day after the Effective Date of the Agreement or the ninety-first (91 day after the Bid opening. Bid security with Bids which are not competitive will be retained no more than seven (7) days after the Bid opening. In the event that Bid Security is in the form of a Bid Bond, it will not be physically retumed to the Bidder, except on written request. 7. Contract Time The number of days within which, or the dates by which, the Work is to be substantially completed and also completed and ready for fmal payment (the Contract Time) aze set forth in the Bid Form and the Agreement. 8. Liquida.ted Dama es Provisions for liquidated damages, if any, are set forth in the Agreement. 9. Substitute or "Or-Equal" Items The Contract, if awarded, will be on the basis of materials and equipment described in the drawings or 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. T'he procedure for submission of any such application by CONTRACTOR and consideration 4 109