A.I.P No. 3-37-0021-054-2022 Each Proposal shall be accompanied by cash, cashier's check, or certified check drawn on a bank insured by the Federal Deposit Insurance Corporation or Savings Association Insurance Fund. Checks shall be made payable to the City of Fayetteville, North Carolina, in an amount not less than five percent (5%) of the total bid as a guarantee that a Contract, if awarded, will be entered into. In lieu thereof, a Bid Bond which conforms to the provisions of G.S. 143-129 as amended by Chapter 1104 of the Public Laws of 1951 may be submitted by the Bidder. Performance and Payment Bonds will be required in the amount of 100% of the contract award amount and shall be furnished by the Contractor prior to start of work. All contractors are notified that North Carolina Statutory Provisions (Chapter 87, Article 1) pertinent to licensing of Contractors will be observed in receiving, reading, and awarding of contracts. Bids may not be withdrawn after the scheduled closing time for the receipt of proposals for a period of one hundred twenty (120) days. The Owner may make such investigations as deemed necessary to determine the ability of the bidder to perform the work, and the bidder shall furnish to the Owner all such information and data for this purpose as the Owner may request. The Contractor shall complete all work within three hundred sixty-five (365) calendar days. Failure to complete the work within this time frame will cause considerable damage to the City; therefore a liquidated damage charge of $1,500.00 per day (or actual damages whichever is greater) for each day of overrun will be assessed to the Contractor. Questions regarding this bid shall be submitted in writing, no later than 5:00 p.m., Tuesday, August 22, 2023 The City reserves the right to reject any or all bid(s), or sections thereof, as it appears in its judgment to be in the best interest of the City. The undersigned bidder understands that all bids may be rejected if the lowest responsive bid received exceeds the engineer's estimate and it is determined by the City that an award of contract would not be in the best interest of the City.