Each bid shall be accompanied by a certified check, cashier's check, or a bank draft on a solvent Nebraska bank insured by FDIC or a bid bond in the amount not less the five percent (5%) of the bid price. The bid security shall be sealed and addressed to the City Clerk, Fremont, Nebraska and labeled on the "Unit No. 8 Inspection of Turbine Valves & Generator Stator Rewind". The bid security shall guarantee the bidder's good faith to enter into the Contract within sixty (60) days at the bid price if accepted by the City Council. Any proposal received which is not accompanied by a bid security will not be considered. The bid security of the successful bidder will be returned when the Contract has been signed, filed with, and approved by the City. The bid security of the unsuccessful bidders will be returned when their bids are rejected. The City of Fremont hereby reserves the right to accept that bid which, in its judgment, will produce the best job of workmanship and material, whether or not it is the lowest bid; and reserves the right to reject any or all bids and to waive any or all informalities of any proposal. The successful bidder will be required to submit an acceptable Affirmative Action Statement and Program to the Office of the Mayor within ten (10) days after the bid has been awarded by the Fremont City Council. Failure to submit an acceptable Affirmative Action Statement and Program within the time allotted shall result in the forfeiture of the bidder's bond. The Contractor shall be required to furnish a Performance, Payment and Maintenance Bond in a sum equal to one hundred percent (100%) of the Contract Price, for a period of one (1) year past the completion of the project. Before the Final Payment may be made, the Contractor shall furnish a written clearance from the Commissioner of Labor of the State of Nebraska, certifying that all payments then due of contributions or interest which may have arisen under the Contract have been made by the Contractor or their subcontractors to the Unemployment Compensation Fund. The Contractor shall complete their work to enable the unit to be on turning gear by no later than May 6, 2025 and online by no later than May 9, 2025.