The Contractor shall furnish, in duplicate, a bond covering faithful performance of the Contract arising thereunder. The Performance Bond shall be obtained from a surety licensed to do business in the State of New York, and listed in the latest issue of the U.S. Treasury Circular 570. The sufficiency of the bond is subject to the approval of the Owner, and the bond which is deemed insufficient by the Owner may be rejected. The amount of the bond shall be equal to 100 percent of the Contract Sum. The cost of the required bond shall be included in the Contract Sum. Each bond shall be maintained throughout the duration of the Project. The Contractor shall deliver the required bonds to the Owner prior to beginning construction activity at the site, on AIA Document A312, Performance Bond. No work shall be performed by the Contractor or its Sub- Contractors, nor shall any payment be issued, until such Bond has been received and approved by the Owner. The Owner has waived the requirement for a Security Bid Bond or deposit, waived a Labor & Material Payment Bond, but does require a Performance Bond. Any bid may be withdrawn prior to the opening of bids. Any bid received after the time of the opening of bids will be rejected. No Bidder may withdraw his/her bid within ninety (120) days after the opening of bids. The Owner reserves the right to accept or reject any or all bids, to waive informalities or irregularities in any bid, or to accept the bid, which in its judgement, is in the best interests of the Mid-Hudson Library System, for one hundred and twenty (120) days after the formal opening of bids. To facilitate evaluation of the Bids, the On Site-Project Manager may contact the apparent Bidder after receipt of Bids to discuss the proposal. Such a contact does not indicate acceptance of the bidder's proposal. If awarded this contract, the undersigned will begin work on or after Monday. October 2 2023, complete the work on or before Monday, November 27th, 2023.