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Salem Area Mass Transit District/Marion County IFB 00-03 6 <br />TAB Services <br />and in case of discrepancy between the two, the written amount shall govern. <br />Any interlineation, alteration or erasure must be initialed by the signer of the Bid. <br />All Alternates requested shall be bid. Bidder shall make no additional stipulations <br />on the Bid Form nor qualify his Bid in any other manner. Each copy of Bid shall <br />include the legal name of Bidder and a statement that the Bidder is a Sole <br />Proprietor, a Partnership, a Corporation or some other legal entity. Each copy <br />shall be signed by the person or persons legally authorized to bind the Bidder to a <br />Contract. A Bid by a Corporation shall further give the State of incorporation and <br />have the Corporate Seal affixed. A Bid submitted by an Agent shall have a <br />current Power of Attorney attached certifying AgenYs authority to bind Bidder. <br />2) BID SECURITY <br />2) Each Bid shall be accompanied by a Bid Security in the amount of 10% of the Bid, <br />pledging that the Bidder will enter into a Contract with the Owner on the terms <br />stated in his Bid and will furnish Bonds as described hereunder covering the <br />faithful pertormance of the Contract and the payment of all obligations arising <br />thereunder. Should the Bidder refuse to enter into such Contract or fail to furnish <br />such Bonds, the amount of the Bid Security shall be forfeited to the Owner as <br />liquidated damages, not as penalty. The Surety Bond shall be written by a <br />Bonding Company licensed in the locality of the Project and the Attorney-In-Fact <br />who executes the Bond on behalf of the Surety shall affix to the bond a certified <br />and current copy of his Power of Attorney. The Owner will have the right to retain <br />the Bid Security of all Bidders until either (a) the Contract has been executed and <br />Bonds have been furnished or (b) the specified time has elapsed so that Bids <br />may be withdrawn or (c) all Bids have been rejected. <br />2) SUBMISSION OF BIDS <br />2) The Bid, The Bid Security and any other pocuments required to be submitted with <br />the Bid shall be enclosed in a sealed opaque envelope. The envelope shall be <br />addressed to the Party receiving the Bids and shall be identified with the Project <br />name and the Bidder's name and address. <br />2) Bids shall be deposited at the designated location prior to the time and date for <br />receipt of Bids or any extension thereof made by Addenda. Bids received after <br />the time and date for receipt of Bids will be returned unopened. The Bidder shall <br />assume full responsibility for timely delivery at the location designated for receipt <br />of Bids. Oral, Telephonic, Telegraphic, or Facsimile Transmitted (FAX) Bids are <br />invalid and will not receive consideration. <br />2) Three (3) copies of bids, each of which must include all Required Submittal <br />Forms (beginning on page 44) contained in this packet. Also, page 1 must be <br />completed and submitted. <br />2) MODIFICATION OR WITHDRAWAL OF BIDS <br />A. A Bid may not be modified, withdrawn or canceled by the Bidder for 45 days <br />following the time and date designated for the receipt of Bids and the Bidder so <br />agrees in submitting his Bid. Prior to the time and date designated for receipt of <br />Bids, any Bid submitted may be modified or withdrawn by notice to the Party <br />