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If the successful bidder, upon acceptance of his bid by the OWNER, fails to execute such further <br /> contractual documents, and give such bond(s) (including any necessary coinsurance or reinsurance <br /> agreements) as may be required within ten (10)days after receipt of the Notice of Award, the contract <br /> may be terminated for default. In such event the CONTRACTOR shall be liable for any cost of <br /> procuring the work which exceeds the amount of his bid, and the bid guarantee shall be available <br /> toward offsetting such difference. <br /> BID OPENING DATE <br /> The bid opening date for this project is Thursday January 27t", 2022 at 10:30 am. <br /> Under the current COVID-19 restrictions, the public bid opening will be held virtually. You may <br /> attend the Opening at -neet.google.com/uia-wxmk-asc OR by phone at +1 617-675-4444 <br /> �: 352 506 533 9782# <br /> A written tabulation of the Bid results will be available to those bidders who submit an email address <br /> with their bid. Please allow two weeks for receipt of Bid results. Telephone requests cannot be <br /> honored because of time constraints. <br /> Performance and Payment Bonds —ARE REQUIRED for bids $150,000.00 and over. <br /> The contractor shall furnish a labor and material payment bond for 100 percent of the original contract <br /> price and a performance bond for 100 percent of the original amount of the contract. The bonds are <br /> required by State Law, Title 24-105,202,203, C.R.S., as amended. The bonds shall be submitted <br /> using the State forms. A certified or cashier's check or bank money order may be accepted in lieu of <br /> the bonds. If a surety other than a bond is used, the State will hold fifty percent (50%) of the surety <br /> until the final settlement date and fifty percent (50%) for six(6) months after the final settlement date. <br /> RETAINAGE <br /> If the bid amount is $150,000.00 or over, 5% retainage will be withheld until the project has been <br /> satisfactorily completed and advertised. <br /> List of Equipment Offered. The List of Equipment Offered form must be returned with each bid. All <br /> equipment to be used on the project must be listed. The CONTRACTOR must own, have a current <br /> lease for the equipment intended to be used to perform the work, or must furnish a statement of <br /> arrangements to rent, or otherwise procure, adequate equipment to perform the work. Inclusion of a <br /> piece of equipment on the List of Equipment Offered represents a commitment to devote that piece <br /> of equipment to the project work for the entire duration of the project. If several contractors propose <br /> to join together to perform the work under this contract, equipment owned or controlled by each <br /> should be listed and the owner identified. A contract will not be awarded to a bidder who in the <br /> opinion of the OWNER (a) does not have adequate equipment, or (b) does not have firm and <br /> satisfactory arrangements to obtain adequate equipment to perform the work described in the <br /> Invitation and Bid. <br /> If the List of Equipment Offered is not submitted with the bid, the bid may be considered non- <br /> responsive. <br /> BID AWARD <br /> Award will be made with reasonable promptness, by written notice to the low responsive and <br /> responsible bidder whose bid meets the requirements and criteria set forth in the Invitation for bid. <br /> These criteria will include, but not be limited to the lowest GRAND TOTAL PRICE, corrected if <br /> Page 3 of 16 <br />