Sport Court Addition at Central Middle School and Ishi Hills Middle School. Furnishing of all labor, materials, transportation, and services required for the Sport Court Addition. Each Bid Shall Be Accompanied by a Certified or Cashier's Check or Bid Bond Made in Favor of the Board of Trustees, Oroville City Elementary School District, Executed by the Bidder as Principal and an Admitted Surety Company as Surety. All Bonds for This Project Must Be Issued by an Admitted Surety, an Insurance Organization Authorized by the Insurance Commissioner to Transact Business of Insurance in the State of California During This Business Year, in an Amount Not Less Than Ten Percent (10%) of the Maximum Amount of the Bid. The Check or Bid Bond Shall Be Given as Guarantee That the Bidder Shall Execute the Contract if It Be Awarded to Him in Conformity With the Contract Documents and Shall Provide the Surety Bond as Specified Therein Within Five (5) Days After Notification of the Award of the Contract to Bidder. It Shall Be Mandatory Upon the Contractor to Whom a Contract is Awarded, and Upon All Subcontractors Under Him, to Pay Not Less Than the General Prevailing Rates of Per Diem Wages to All Workmen in the Execution of the Contract. Pursuant to the Provisions of the California State Labor Code, and Local Laws Thereto Applicable, the Said Board of Trustees Has Ascertained the Prevailing Rate of Wages in the Locality Where This Work is to Be Performed, for Each Craft and/or Type of Workman or Mechanic Needed to Perform the Work of This Contract. The Bidder Awarded This Contract May Elect to Receive 100% of Payments Due Under the Contract From Time to Time Without Retention of Any Portion of the Payment by the Public Agency, by Depositing Securities of Equivalent Value With the Public Agency in Accordance With the Provisions of Section 4590 of the Government Code. The Oroville City Elementary School District Reserves the Right to Reject Any or All Bids or Waive Any Defect or Irregularity in Bidding.