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The Owner will make such investigations as deemed necessary to determine the ability of <br /> the Bidder to perform the work, and the Bidder shall furnish to the Owner all such information and <br /> data for this purpose as the Owner may request. The Owner reserves the right to reject any bid if <br /> the evidence submitted by, or investigation of, such Bidder fails to satisfy the Owner that such <br /> Bidder is properly qualified to carry out the obligations of the Contract and to complete the work <br /> contemplated therein. Conditional bids will not be accepted. <br /> Each bid must be accompanied with a proposal guaranty either as a properly certified check <br /> made payable to "Treasurer,City of Decatur," Decatur, Illinois,in an amount not less than ten(10) <br /> percent of the bid; or a cashier's check made payable to "Treasurer, City of Decatur", Decatur, <br /> Illinois, in an amount not less than ten (10) percent of the bid; or a bid bond on a form approved <br /> by the City, executed by a surety company satisfactory to the City, in an amount not less than ten <br /> (10)percent of the bid. Such proposal guarantees, of the three lowest bidders, may be retained by <br /> the City for a period of 45 days after the date of the bid opening. Checks or bid bonds from other <br /> than the three lowest bidders will be returned by the City within seven (7) days after the date of <br /> the bid opening. ' <br /> Simultaneously with the delivery of the executed Contract, the Contractor shall furnish a <br /> surety bond or bonds as security for faithful performance of this Contract and for the payment of <br /> all persons performing labor on the project under this Contract and furnishing materials in <br /> connection with this Contract, and other items required by the Conditions and Specifications <br /> governing the work. Public Act 103-0570 amended the Public Bond Act to only require a bond(s) , <br /> on Contracts greater than $150,000. If not amended, the act shall expire on January 1, 2029. All <br /> Contracts greater than $50,000 after January 1, 2029 must provide a bond(s). The surety on such <br /> bond or bonds shall be a duly authorized surety company satisfactory to the Owner. Attorneys-in- <br /> fact <br /> who sign bid bonds or contract bonds must file with each bond a certified and effectively dated <br /> copy of their Power of Attorney. <br /> The successful Bidder,upon Bidder's failure or refusal to execute and deliver the Contract <br /> and bond(s) (if Contract is greater than $150,000) required within (10) consecutive calendar days <br /> from and including the date the Bidder has received notice of the acceptance of their bid, shall <br /> forfeit to the Owner, as liquidation of damages done for such failure or refusal, the security <br /> deposited with their bid. Notice of the Owner's intent shall either be hand delivered by the Owner <br /> to the Bidder's address,as given on the Contract Documents, or mailed to such address, first class, <br /> United States mail, return receipt requested. Delivery or mailing of said notice to said address <br /> shall constitute the notice herein required without the requirement of an acknowledgment of receipt <br /> from the Bidder. <br /> Each Bidder must inform themself fully of the conditions and specifications relating to the 111construction of the project and the employment of labor thereon. Failure to do so will not relieve <br /> a successful Bidder of their obligation to furnish all material and labor necessary to carry out the <br /> provisions of the Contract. Insofar as possible, the Contractor, in carrying out their work, must <br /> employ such methods or means as will not cause any interruption of or interference with the work <br /> of any other Contractor. <br /> The quantities appearing in the bid proposal are approximate and are prepared for the ' <br /> comparison of bids. Payment to the Contractor will be made only for the actual quantities of work <br /> performed and accepted or materials furnished according to the contract. The proposed quantities <br /> of work to be done and materials to be furnished may each be increased, decreased, or omitted as <br /> hereinafter provided. <br /> 9 <br />