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Supplement 1-03.1 by adding the following: , <br /> 1-03.1(2) Preference for Resident Contractors <br /> (******) <br /> hi accordance with RCW 39.04.380, if a Bid is received from a nonresident contractor from a <br /> state that provides a percentage bidding preference and does not have an office located in <br /> Washington, then a comparable percentage disadvantage will be applied to the Bid of that <br /> nonresident contractor. <br /> 1-03.2 Award of Contract <br /> Revise 1-03.2 to read as follows: <br /> Within 45 days after the opening of Bids, the City will act either to accept the Bid from the <br /> lowest responsive, responsible Bidder, or to reject all Bids. The City reserves the right to <br /> request extensions of such Bid acceptance period.If the lowest responsible Bidder and the City <br /> cannot agree on an extension by the 45-day deadline, the City reserves the right to award the <br /> Contract to the next lowest responsible Bidder or reject all Bids. <br /> The acceptance of a Bid will be evidenced by a written Notice of Award of Contract delivered 111in person or by certified mail to the Bidder whose Bid is accepted, together with a request to <br /> furnish a Contract Bond and evidence of insurance and to execute the Contract set forth in the <br /> Contract Documents. <br /> 1-03.3 Execution of Contract ' <br /> Revise the first paragraph of 1-03.3 to read as follows: <br /> Successful Bidder has 14 calendar days after receiving the Notice of Award to submit the <br /> following documents to the City: <br /> • Two(2)executed copies of the Contract. <br /> • Two (2) original payment bonds and two (2) original performance bonds <br /> submitted on forms contained in Contract Documents. <br /> • Certificate of Insurance and additional insured endorsement in accordance with <br /> 1-07.18"Insurance"of the Special Provisions. <br /> Revise the third paragraph of 1-03.3 to read as follows: <br /> If the Bidder experiences circumstances beyond their control that prevents return of the <br /> Contract Documents within 14-calendar days after the Award Date, the City may grant more <br /> time for return of the documents,provided the City deems the circumstances warrant it. <br /> Supplement 1-03.3 by adding the following: <br /> A Contract shall not be formed until the Contract Documents are signed by the Mayor. ' <br /> 1-03.4 Contract Bond <br /> Revise 1-03.4 to read as follows: <br /> The Contractor shall provide a separate payment bond and performance bond, each in the <br /> amount of 100 percent of the Contract Sum and each in the form contained in the Contract <br /> Documents. These bonds shall serve as security for the faithful performance of the Work and as <br /> security for the faithful payment and satisfaction of the persons furnishing materials and <br /> performing labor on the Work. The bonds shall be issued by a corporation duly and legally <br /> licensed to transact surety business in the State of Washington. Such bonds shall remain in force <br /> throughout the period required to complete the Work, and thereafter for a period of three <br /> hundred sixty-five (365) calendar days after Final Acceptance. The bonds must be executed by <br /> a duly licensed surety company, which is listed in the latest Circular 570 of the United States <br /> Treasury Department, as being acceptable as surety on federal bonds. No surety's liability on <br /> the bond shall exceed the underwriting limitations for the respective surety specified in Circular <br /> 570. The bonds must be signed by an officer of the Contractor empowered to sign binding <br /> instruments. The bonds must be accompanied by a fully executed and original power of <br /> HAYES STREET REGULATOR February,2017 <br /> AND CSO CONTROLS (SRO1, SRO2,AND SRO3) <br /> WO No—UP3398-31 SP-60 , <br />