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I <br /> City of Everett 00 4113 - 2 <br /> Inductive Charging Infrastructure for Everett Transit I <br /> 1.3 ACCEPTANCE I <br /> A. This offer shall be open to acceptance and is irrevocable for 45 days from the Bid <br /> closing date. p <br /> B. If this Bid is accepted by the Owner within the time period stated above, we will: <br /> 1. Execute the Agreement within 14 days of receipt of Notice of Award. <br /> 2. Furnish the required 100% payment and 100% performance bonds within <br /> 14 calendar days of receipt of Notice of Award in the form described in <br /> Contract Documents. <br /> 3. Commence Work within seven calendar days after receipt of Notice to <br /> Proceed. <br /> C. If this Bid is accepted within the indicated time, and we fail to commence the Work I <br /> or we fail to provide the required bonds, the Bid security shall be forfeited as <br /> damages to the Owner by reason of our failure, limited in amount to the lesser of <br /> the face value of the Bid security or the difference between this Bid and the Bid <br /> upon which Contract is signed. <br /> D. In the event our Bid is not accepted within the time stated above, the required Bid I <br /> security will be returned to the undersigned, according to the provisions of the <br /> Instructions to Bidders, unless a mutually satisfactory arrangement is made for <br /> its retention and validity for an extended period of time. I <br /> 1.4 CONTRACT TIME p <br /> A. If this Bid is accepted, we will: <br /> 1. Begin work immediately after receiving Owner's letter of Notice to Proceed <br /> and to reach Substantial Completion within the dates required under the <br /> Contract Documents. <br /> 2. Agree to pay liquidated damages to the City as stated in the Contract in the <br /> event the project is not completed on or before required time periods. <br /> 3. Contract with the Owner using the Contract form provided herewith, on the <br /> terms and conditions contained herein, to do everything necessary to <br /> complete the construction of the project in the allotted time. <br /> 1.5 ADDENDA , <br /> A. Following Addenda have been received, and the modifications to the Bid <br /> Documents noted below have been considered and all costs are included in the I <br /> Bid. <br /> Addendum No , dated <br /> Addendum No , dated I <br /> 00 4113 - 2 BID FORM <br /> I <br />