The SW Oralabor Road and SW Edgewood Lane Intersection Improvements project includes adding turn lanes on SW Oralabor Road at SW Edgewood Lane and SW Stonehaven Lane. The construction improvements include approximately 650 SY of 10.5 PCC Class C-SUD street pavement, Class 10 excavation, subgrade preparation, modified subbase, paved medians, pavement markings, temporary traffic control, final surface restoration, and miscellaneous associated work necessary to complete the project. SW Oralabor Road and SW Edgewood Lane Intersection Improvements: $240,000 Work on the improvement shall be commenced any time after a written Notice to Proceed is issued, no earlier than May 28, 2024 and no later than June 17, 2024, and shall be completed as stated below. The Notice to Proceed will be issued after the preconstruction conference, which is expected to occur in March 2024 Each Bidder shall accompany its bid with bid security as defined in Iowa Code Section 26.8, as security that the successful Bidder will enter into a Contract for the work bid upon and will furnish after the award of Contract a corporate Surety Bond, in a form acceptable to the City of Ankeny, for the faithful performance of the Contract, in an amount equal to one hundred percent (100%) of the amount of the Contract. The Bidders security shall be in the amount fixed in the Instructions to Bidders and shall be in the form of a cashier's check or a certified check drawn on an FDIC insured bank in Iowa or on an FDICinsured bank chartered under the laws of the United States; or a certified share draft drawn on a credit union in Iowa or chartered under the laws of the United States; or a Bid Bond on the form provided in the Contract Documents with corporate Surety satisfactory to the City of Ankeny. The bid shall contain no condition except as provided in the specifications. Each successful Bidder will be required to furnish a corporate Surety Bond in an amount equal to one hundred percent (100%) of its Contract price. The Contractor shall substantially complete the overall project within thirty (30) working days. Substantial completion for the overall project shall be defined as all grading and pavement completed, with the new pavement markings and signs installed, and the new streets, driveways, and sidewalks fully open to traffic. A mandatory six-day work week is not required; however, working days will be charged on Saturdays if the Contractor elects to perform bid item work on Saturdays. Should the Contractor fail to substantially complete the work in this timeframe, liquidated damages of One Thousand Dollars ($1,000.00) per calendar day will be assessed for work not substantially completed within the designated Contract term(s). liquidated damages of Five Hundred Dollars ($500.00) per calendar day will be assessed for work not fully completed within the designated Contract term(s). The City of Ankeny does hereby reserve the right to reject any or all bids, to waive informalities, and to enter into such contract, or contracts, as it shall deem to be in the best interest of the City.