All bidders shall, as bid security, accompany the bid with 1) lawful currency of the United States or a cashier's check; or 2) a certified check or bank money order drawn and issued by a national bank located in Montana or by a banking corporation incorporated in Montana; or 3) a bid bond or bonds, executed by a surety corporation authorized to do business in Montana. The bid security shall be in the amount of ten percent (10%) of the amount bid. Any such bank instrument shall be payable to Flathead County. If a contract is awarded, the bidder whose bond is accepted and who shall thereafter refuse to enter into and execute the proposed contract, or as stated in the covenant, shall absolutely forfeit such moneys or bank instruments to the County, and become immediately liable on said bid bond in said sum. The bid security shall be returned to the unsuccessful bidders. All bids must expressly covenant that if the bidder is awarded the contract, the bidder shall within ten (10) calendar days of the acceptance of said bid by the County Commissioners, enter into a contract, and give good and sufficient bond to secure the performance of the terms and conditions of the contract. In the event the successful bidder does not enter into a formal contract within ten (10) calendar days or give sufficient bond to secure performance, the bidder shall pay unto the County the difference between the amount of the bid of said bidder and the amount for which the County legally contracts with another party to perform said work if the latter amount is more than the former. The successful bidder shall for the purpose of the Contract with the County, name Flathead County and Robert Peccia & Associates, Inc. as additional insured on said policy white performing work under County contract. The successful bidder will be assessed the Montana Contractor's withholding tax. The County will accept the lowest responsible bid, but the County Commissioners reserve the right to reject any and all bids or to waive any technicality or informality and accept any bid which may be deemed in the best interest of the County. The successful bidder will be required to furnish an acceptable security for the full amount of the contract for faithful performance thereof and payment of labor, material, and subcontractor claims. The successful bidder shall be required to furnish to the County evidence of insurance in accordance with the Seventh Edition of the Montana Public Works Standard Specifications.