Parkside Athletic Fields Site and Building Package Each bid shall contain the full name of each person or company interested in the same, and shall be accompanied by a Bid Bond or Certified Check made payable to the City of Westlake in the sum of five percent (5%) of the total amount bid. Bid Bond must be that of an approved Surety Company authorized to transact business in the State of Ohio and listed in the latest issue of U.S. TREASURY CIRCULAR 570, and to the satisfaction of the City of Westlake. Bid Bond shall be purchased through a Surety Company with an Ohio Agent upon whom serve of process can be made. Certified Check or Bid Bond shall be held as a guarantee that, in the event the bid is accepted and a contract awarded to the bidder, the successful bidder will, within ten (10) working days after the contract documents are presented to the successful bidder for execution, duly execute the contract and properly secure its performance by the required Performance Bond, Labor and Material Bond, furnish required certificates of insurance and such other documents, schedules, or certificates as may be required by the specifications, or in default thereof, said check, and the amount represented thereby, shall be forfeited to the City of Westlake as liquidated damages, or in the case of Bid Bond, the stipulated sum be immediately payable to the City of Westlake as liquidated damages. The successful bidder or bidders will be required to furnish a Performance and Labor and Material Bond each in the sum not less than 100 percent (100%) of the total price bid for the completed work. The City of Westlake reserves the right to reject as non-responsive any bid which does not comply with the E.E.O. requirements or which does not comply with any of the other requirements set forth in the bidding documents. The City also reserves its right to reject any and all bids and to waive any formalities and informalities of the bid requirements.