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' ARTICLE 7—BID SECURITY <br /> 7.01 A Bid must be accompanied by Bid security made payable to Owner in an amount of five <br /> ' (5%)percent of Bidder's maximum Bid price and in the form of a certified check, bank money <br /> order, or a Bid bond(on the form included or the standard form of the surety company) issued by <br /> a surety meeting the requirements of Paragraphs 5.01 and 5.02 of the General Conditions. <br /> ' 7.02 The Bid security of the Successful Bidder will be retained until such Bidder has executed the <br /> Contract Documents, furnished the required contract security and met the other conditions of the <br /> ' Notice of Award, whereupon the Bid security will be returned. If the Successful Bidder fails to <br /> execute and deliver the Contract Documents and furnish the required contract security within 15 <br /> days after the Notice of Award, Owner may consider Bidder to be in default, annul the Notice of <br /> ' Award, and the Bid security of that Bidder will be forfeited. Such forfeiture shall be Owner's <br /> exclusive remedy if Bidder defaults. The Bid security of other Bidders whom Owner believes to <br /> have a reasonable chance of receiving the award may be retained by Owner until the earlier of <br /> ' seven (7) days after the Effective Date of the Agreement or 61 days after the Bid opening, <br /> whereupon Bid security furnished by such Bidders will be returned. <br /> ' 7.03 Bid security of other Bidders whom Owner believes do not have a reasonable chance of <br /> receiving the award will be returned within seven days after the Bid opening. <br /> ARTICLE 8—CONTRACT TIMES <br /> 8.01 The number of days within which, or the dates by which, the Work is to be substantially <br /> completed and ready for final payment are set forth in the Agreement. <br /> ARTICLE 9—LIQUIDATED DAMAGES <br /> 9.01 Provisions for liquidated damages, if any, are set forth in the Agreement. <br /> ' ARTICLE 10—SUBSTITUTE AND "OR-EQUAL" ITEMS <br /> 10.01 The Contract, if awarded, will be on the basis of materials and equipment specified or described <br /> in the Bidding Documents without consideration of possible substitute or "or-equal" items. <br /> ' Whenever it is specified or described in the Bidding Documents that a substitute or "or-equal" <br /> item of material or equipment may be furnished or used by Contractor if acceptable to Engineer, <br /> application for such acceptance will not be considered by Engineer until after the Effective Date <br />' of the Agreement. <br /> ARTICLE 11 —SUBCONTRACTORS,SUPPLIERS AND OTHERS <br />' 11.01 The Contract Documents may require the identification of certain Subcontractors, Suppliers, <br /> individuals, or entities to be submitted to Owner in advance of a specified date prior to the <br />' Effective Date of the Agreement, the apparent Successful Bidder, and any other Bidder so <br /> requested, shall within five days after Bid opening, submit to Owner a list of all such <br /> Subcontractors, Suppliers, individuals, or entities proposed for those portions of the Work for <br />' which such identification is required. Such list shall be accompanied by an experience statement <br /> with pertinent information regarding similar projects and other evidence of qualification for each <br />' EJCDC C-200 Modified(Addendum No.I)Instructions to Bidders for Construction Contracts <br /> Copyright©2007 National Society of Professional Engineers for EJCDC.All rights reserved. <br />' Page 5 <br />