**As of Sept. 2, 2021, the contract award to V3 Construction for $85,800.00 is scheduled for the September 7th Village Board Meeting. The start date has not yet been determined. The construction of the Bangs Lake Drain Streambank Stabilization at Osage Street Project in accordance with the Drawings, Specifications and Contract Documents prepared by RHMG Engineers, Inc. The work for which proposals are invited consists of regrading and stabilization of the Bangs Lake Drain Streambank along Osage Street (approximately 180 linear feet) and concrete headwall replacement. All construction to take place in Wauconda, Illinois. PROPOSAL GUARANTY Each proposal must be submitted on the proper forms contained in the Contract Documents and shall be accompanied by a certified check, cash or bid bond, or an acceptable form of Proposal Guaranty in an amount equal to at least five percent (5%) of the amount of the Proposal, payable to the Order of the Village of Wauconda as a guaranty that if the Proposal is accepted, the Bidder will execute the Contract and file acceptable Performance Bond and Payment Bond after the award of the Contract. No Bid shall be withdrawn after the opening of bids without the consent of the Village of Wauconda for a period of sixty (60) days after the scheduled time of receiving bids. PERFORMANCE BOND AND LABOR AND MATERIALS PAYMENT BOND The successful bidder will be required to furnish a satisfactory Performance Bond and Labor and Materials Payment Bond in the full amount of the Bid or Proposal. CONTRACT TIME The Contractor shall begin work within l0 days after the issuance of a written Notice to Proceed and shall substantially complete the work as defined in the General Conditions within 45 calendar days commencing from issuance of the Notice to Proceed. Final completion shall be within 60 days commencing from the issuance of the Notice to Proceed. PREVAILING WAGES This project is subject to the Illinois Prevailing Wage Act (820 ILCS 130, et seq.) The successful bidder will be required to comply with all requirements of the Act. OWNER'S RIGHTS RESERVED The Owner reserves the right to reject any or all Proposals or any portion thereof or to accept any proposal or portion thereof and to waive any informality or technicality in any Proposal in the interest of the Owner.