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Advertisement for Bids <br />Page 2 <br />January 8, 1995 <br /> <br />Reference must be made to said documents for full <br />particulars respecting the work to be performed. <br /> <br />Copies of the contract documents required for review or <br />bidding purposes may be obtained only at the Office of the <br />Utilities Director upon deposit of 350.00 for each set of <br />documents so obtained. Each application must be accompanied <br />by a certified check made payable to Cabarrus County. The <br />full amount of the deposit for one set of documents and one- <br />half (1/2) the deposit for any additional sets of documents <br />will be refunded to each bidder who submits a bonafide <br />proposal to the County, and who also returns the documents <br />in good condition to the County within ten (10) days after <br />bid date. <br /> <br />Equipment manufacturers, subcontractors and others who do <br />not submit bonafide proposals to the County will be refunded <br />one-half (1/2) the amount of the deposit for all complete <br />sets of documents returned to the County within ten (10) <br />days.after the opening of bids. No refunds will be made for <br />documents received after the ten (10) day period. <br /> <br />BID SECURITY: <br /> <br />Each proposal shall be accompanied by a certified or <br />cashier's check payable to the order of Cabarrus County or a <br />satisfactory bid bond executed by the bidder and a surety <br />company authorized to do business in North Carolina in an <br />amount of five percent (5%) of the bid as a guarantee that <br />the bidder will, within ten (I0) days after the date of the <br />bidder's receipt of the Notice of Award of the contract, <br />execute an agreement and file bonds and insurance as <br />required by the contract document if his proposal is <br />accepted. If a bidder fails to execute and file an <br />agreement, bond and insurance, the amount of the security <br />shall be forfeited as liquidated damages. <br /> <br />PERFORMANCE BOND AND PAYMENT BOND: <br /> <br />A performance bond will be required of the successful bidder <br />in an amount equal to one hundred percent (100%) of the <br />amount of the contract, conditioned upon the faithful <br />performance of the contract. <br /> <br /> <br />