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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 /> 111 <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) I <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 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, 111 <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 <br /> construction 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 />