The Depot Trail Head generally includes construction of a park with the following amenities: Pavilion building with restrooms Utility connections for pavilion Paved parking area Sidewalks Parking area for historic depot building Site lighting Furnishings such as picnic tables, benches, bike loops, bike repair station, and drinking fountain BID SECURITY A Bid must be accompanied by Bid security made payable to Owner in an amount of 5% of Bidder's maximum Bid price (determined by adding the base bid and all alternates) and in the form of a Bid bond issued by a surety meeting the requirements of Paragraph 6.01 of the General Conditions. Such Bid bond will be issued in the form included in the Bidding Documents. 1. Substantial Completion: Contractor shall pay Owner $1,000 for each day that expires after the time (as duly adjusted pursuant to the Contract) specified above for Substantial Completion, until the Work is substantially complete. 2. Completion of Remaining Work: After Substantial Completion, if Contractor shall neglect, refuse, or fail to complete the remaining Work within the Contract Times (as duly adjusted pursuant to the Contract) for completion and readiness for final payment, Contractor shall pay Owner $1,000 for each day that expires after such time until the Work is completed and ready for final payment. 3. Milestone 1: Contractor shall pay Owner $500 for each day that expires after the time (as duly adjusted pursuant to the Contract) specified above for achievement of Milestone 1, until Milestone 1 is achieved, or until the time specified for Substantial Completion is reached, at which time the rate indicated in Paragraph 4.05.A.1 will apply, rather than the Milestone rate. 4. Liquidated damages for failing to timely attain Milestones, Substantial Completion, and final completion are not additive, and will not be imposed concurrently. The Work will be substantially complete on or before June 20, 2025, and completed and ready for final payment in accordance with Paragraph 15.06 of the General Conditions on or before June 20, 2025. The City of Big Rapids reserves the right to accept any bid, reject any or all bids, to waive informalities and make the award in any manner deemed in the best interest of the City of Big Rapids. Question Deadline 09/26/2024 Bidder shall submit all questions about the meaning or intent of the Bidding Documents to Engineer in writing.