Provide all labor, materials, and equipment necessary to construct existing pavement rehabilitation and hot mix asphalt resurfacing including approximately 8,434 square yards of milling, and approximately 1,083 tons of hot mix asphalt overlay, testing, mobilization, traffic control and miscellaneous work, including cleanup. Each proposal shall be made out on a blank form furnished by the municipality and must be accompanied by bid security, as follows: a certified or cashier's check, drawn on a solvent Iowa bank or a bank chartered under the laws of the United States or a certified share draft drawn on a credit union in Iowa or chartered under the laws of the United States, in an amount equal to five percent (5%) of the bid, or a bid bond executed by a corporation authorized to contract as a surety in the State of Iowa in a penal sum of five percent (5%) of the bid. The duration of the work is critical to the project so as to minimize the disruption associated with the project to the property owners and to provide services to proposed residences. Damages in the amount of Two Hundred Fifty Dollars ($250.00) per calendar day will be assessed for each day that all work on the project, including surface restoration, is not completed after November 30, 2025 at the sole discretion of the City with due allowance for extensions of the contract period due to conditions beyond the control of the Contractor. At the option of the City, damages may be deducted from any retainage prior to release, the final payment to contractor, or through the commencement of a cause of action by the City, in the City's sole discretion. The selection by the City of any particular course of action hereunder is not exclusive and shall not preclude the pursuit of additional remedies by the City. In the event the City institutes legal proceedings, the Contractor shall be responsible for any and all attorney's fees and expenses. The successful bidder will be required to furnish bonds in an amount equal to one hundred percent (100%) of the contract price, said bonds to be issued by responsible surety approved by the City Council and listed in the U.S. Treasury Department's most current list (Circular 570, as amended) and authorized to transact business in the State of Iowa and shall guarantee (1) the faithful performance of the contract and the terms and conditions therein contained, (2) the prompt payment to all persons, firms, subcontractors and corporations furnishing materials, service, or transportation for or performing labor in the prosecution of the work, and (3) the maintenance of improvements in good repair for not less than two (2) years from the time of acceptance of the improvements by the City. The work will commence within ten (10) calendar days after the date set forth in written Notice to Proceed. All work on the project, including surface restoration, shall be completed by Notice to Bidders NB-3 20720 November 30, 2025 with a start date established after the storm improvements are completed under a separate contract.