Unit prices shall be final, and the City reserves the right to accept or reject any or all bids on a per unit basis and waive irregularities and technicalities as determined to be in the best interest of said City. Bids received after the announced time and date of receipt, by mail or otherwise, will be returned unopened. The City is not responsible for delays occasioned by the U.S. Postal Service, the internal mail delivery system of the City, or any other means of delivery employed by the bidder. Nothing herein is intended to exclude any responsible firm or in any way restrain or restrict competition. The City of West Des Moines reserves the right to award in part or in whole or to reject any or all bids. Any bid submitted MUST be signed by an individual authorized to bind the bidder. All bids submitted without such signature will be deemed non-responsive and will not be acceptable. The Contractor shall provide and maintain a performance bond in a manner acceptable to the City in the amount of $1,000 for the duration of this agreement. The City shall not file against or use this performance bond for any issue or matter not relating to nonperformance or noncompliance with the Contract. f approved by the West Des Moines City Council, the initial term of this Contract shall be effective for the period of one year from the executed Contract date. The City reserves the right as its sole option to renew this contract on an annual basis per the same terms and conditions as set forth in the resulting contract. Any renewal Contract's shall require written, mutual consent of both the City and the Contractor prior to the expiration of the initial term and any subsequent term. Renewal of the Contract shall include an increase in the compensation paid for Contractor services from the existing Contract based upon the CPI-W (as calculated by the United State Bureau of Labor Statistics) in July of the renewing year and not to exceed the most recent twelve (12) month average increase of the CPI-W for the same or similar services. Contract award and renewals shall be limited to a total of five (5) years from the original executed Contract date. This Contract may be terminated for any reason by the City during the Contract period, subject to thirty (30) day written notice being delivered by registered mail to the Contractor at the address referenced on the Bid Form.