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Federal Funds <br />All bidders ui11 be iilformed that Fecterzl funds wi11 be used to <br />assist iii construction. 1'tlis can he accmmptisheci in the "spec.i.al <br />provisions" of the specifications or in [he bie+.dir.g clocuments. <br />Bonding and Insu,ance <br />For contracts exceedinf, S100,000 rhe :r11owing auplip:,: <br />A. A bid guarzntee_irom elch bidcier cq;tiv:ilo nt to fivepercc•:it <br />of the bid prico. The "bid guarantee" s}i,~ll corsist of a firm <br />commitment such as a bid bond, certit:ied check, or ottier nego- <br />tiable instrument accompanying a bid as assurnnce that the <br />bidder will, upon acceptance of liis bid, execqte such con- <br />tractual documents as may be reyutreci wi_Chin L1ie time speciflecl. <br />B. A Lerform:ince bond un rhe pz, t o£ c.ie contracCor. .`or 100 - - - - - - <br />perceat of Che contrnct price. A "Pc•rtiorr,;ince bond" is one <br />executed in connect ion wi th a cnnt r;inC to secu: e Culf illment <br />oL all rt;e conLractor':; ohlif;:it ion; t,ndcr such contrac[. <br />C. A_paymen[ bond on the ~p~►rt of t:he _c,nt:-actor for 100 perceilt <br />of the cottCract pri_ce. A"payir.ent t,ond" i> one cxectiited in <br />connec[ion wi[h a coatract to assurc p:zyment a:; rcqui.red hy <br />lau of all persons supplyinp lcihor ancl mnr.ertal in the <br />execu[ion of the work provided for !n the concrncr_. <br />D. Additional conclitioils roverning coil;;truction coiltracts are <br />contained in the General Provisic}ns. <br />Cantract Provisions <br />The grantee shall include, in additiun to }>rovisions to define a <br />sound and complete agreement, t21e follvwins; ;rovisians in all conr_racts: <br />A. Contrlcts sh:.;ll CORC1111 >itch c-on!.ractu;il p:ovlsions or conditi.ons <br />nhich wi11 allow ror administrative, contr:tcttlai, or 1_ega1 <br />remedles in instances where contractors violate or Ureacti <br />contract ternis, znci providc: for surh sanc.tions rin<i penalties <br />as may be appropriate. <br />B. All contrac[s, anounts for which zre in exc_ess of $10,000, <br />shall contain suitable provisions for terr.:iuat.ion by the <br />grantee including che mnnner hy which it will be effecCed <br />and the basis for se[tlement. In additivn, suc}1 c.ontracts <br />shall describe conditions under which the conCrric[ may be <br />' terminated for default as uel la: conditions wliere the <br />concract may i>e termin.ited bec.iusc of c{rcumstznces beyond <br />the control of the contractor. <br />