The Town of Princeton requests bids for the Martin Livestock Road Sewer Extension Project: This project will include the installation of a new pump station and associated appurtenances for the Martin Livestock Road sewer extension. The project will involve the installation of approximately 320 LF of 8" gravity sewer pipe, two bores and jacks, manholes as shown on the construction drawings, and approximately 5,100 LF of 4" force main. Bids will be received for a single prime Contract. Bids shall be on a lump sum and unit price basis. Each bid must be accompanied by a Bid Security as specified in the Instructions to Bidders. A Bid must be accompanied by Bid security made payable to Owner in an amount of 5% percent of Bidder's maximum Bid price (determined by adding the base bid and all alternates) and in the form of a certified check, bank money order, or a Bid bond (on the form included in the Bidding Documents) issued by a surety meeting the requirements of Paragraphs 6.01 and 6.02 of the General Conditions. 8.02 The Bid security of the apparent Successful Bidder will be retained until Owner awards the contract to such Bidder, and such Bidder has executed the Contract Documents, furnished the required contract security, and met the other conditions of the Notice of Award, whereupon the Bid security will be released. If the Successful Bidder fails to execute and deliver the Contract Documents and furnish the required contract security within 15 days after the Notice of Award, Owner may consider Bidder to be in default, annul the Notice of Award, and the Bid security of that Bidder will be forfeited. Such forfeiture shall be Owner's exclusive remedy if Bidder defaults. 8.03 The Bid security of other Bidders that Owner believes to have a reasonable chance of receiving the award may be retained by Owner until the earlier of seven days after the Effective Date of the Contract or 90 days after the Bid opening, whereupon Bid security furnished by such Bidders will be released. 8.04 Bid security of other Bidders that Owner believes do not have a reasonable chance of receiving the award will be released within seven days after the Bid opening. The number of days within which, or the dates by which, the Work is to be substantially completed and ready for final payment are set forth in the Agreement. When required, the Contractor shall furnish to the Department of Transportation a 100% Performance Bond for the amount of paving to be cut and replaced along highways. Bond is required in North Carolina. Contractor shall furnish a performance bond and a payment bond, each in an amount at least equal to the Contract Price, as security for the faithful performance and payment of all of Contractor's obligations under the Contract. These bonds shall remain in effect until one year after the date when final payment becomes due or until completion of the correction period specified in Paragraph 15.08, whichever is later, except as provided otherwise by Laws or Regulations, the Supplementary Conditions, or other specific provisions of the Contract. Contractor shall also furnish such other bonds as are required by the Supplementary Conditions or other specific provisions of the Contract.