A-2.2 (3)
A PERFORMANCE BOND and a PAYMENT BOND, each in the amount of one hundred percent
(100%) of the CONTRACT PRICE, with a corporate surety approved by the OWNER, will be
required for the faithful performance of the contract.
Attorneys-in-fact who sign BID BONDS or PAYMENT BONDS and PERFORMANCE BONDS
must file with each BOND a certified and effective dated copy of their power of attorney.
The party to whom the contract is awarded will be required to execute the AGREEMENT and
obtain the PAYMENT BOND and PERFORMANCE BOND within ten (10) calendar days from the
date when NOTICE OF AWARD is delivered to the BIDDER. The NOTICE OF AWARD shall be
accompanied by the necessary AGREEMENT and BOND forms. In case of failure of the BIDDER
to execute the AGREEMENT, the OWNER may at his option consider the BIDDER in default, in
which case the BID BOND accompanying the proposal shall become the property of the OWNER.
The OWNER within ten (10) days of receipt of acceptable PAYMENT BOND, PEERFORMANCE
BOND and AGREEMENT signed by the party to whom the AGREEMENT was awarded shall sign
the AGREEMENT and return to such party an executed duplicate of the AGREEMENT. Should
the OWNER not execute the AGREEMENT within such period, the BIDDER may by WRITTEN
NOTICE withdraw his signed AGREEMENT. Such notice of withdrawal shall be effective upon
receipt of the notice by the OWNER.
The NOTICE TO PROCEED shall be issued within ten (10) days of the execution of the Agreement
by the OWNER. Should there be reasons why the NOTICE TO PROCEED cannot be issued within
such period; the time may be extended by mutual agreement between the OWNER and
CONTRACTOR. If the NOTICE TO PROCEED has not been issued within the ten (10) day period
or within the period mutually agreed upon, the CONTRACTOR may terminate the AGREEMENT
without further liability on the part of either party.
The OWNER may make such investigations as he deems necessary to determine the ability of the
BIDDER to perform the WORK, and the BIDDER shall furnish to the OWNER all such
information and data for this purpose as the OWNER may request. The OWNER reserves the right
to reject any BID if the evidence submitted by, or investigation of, such BIDDER fails to satisfy the
OWNER that such BIDDER is properly qualified to carry out the obligations of the AGREEMENT
and to complete the WORK contemplated therein.
A conditional or qualified BID will not be accepted.
Award will be made to the lowest responsive and responsible BIDDER _based on the base BID only
(without Alternates).
All applicable laws, ordinances, and the rules and regulations of all authorities having jurisdiction
over construction of the PROJECT shall apply to the contract throughout.
Each BIDDER is responsible for inspecting the site and for reading and being thoroughly familiar
with the CONTRACT DOCUMENTS. The failure or omission of any BIDDER to complete any of
the foregoing shall in no way relieve any BIDDER from any obligation in respect to his BID.
ADDENDUM NO. 3
