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DocuSign Envelope ID: 313DA256 -1EDE- 4396- A716- 4C53B809027E <br />Each proposal shall be accompanied by a cash deposit or a certified check drawn on some bank <br />or trust company, insured by the Federal Deposit Insurance Corporation, of an amount equal to <br />not less than five percent (5 %) of the proposal, or in lieu thereof a bidder may offer a bid bond of <br />five percent (5 %) of the bid executed by a surety company licensed under the laws of North <br />Carolina to execute the contract in accordance with the bid bond. Said deposit shall be retained <br />by the owner as liquidated damages in event of failure of the successful bidder to execute the <br />contract within ten days after the award or to give satisfactory surety as required by law. <br />Orange County is committed to providing its employees with a living wage and encourages <br />agencies it funds to pursue the same goal. A copy of Orange County's Living Wage Contractor <br />Policy is included in the project manual. <br />A performance bond and a payment bond will be required for one hundred percent (100 %) of the <br />contract price. <br />Payment will be made based on ninety -five percent (95 %) of monthly estimates and final <br />payment made upon completion and acceptance of work. <br />No bid may be withdrawn after the scheduled closing time for the receipt of bids for a period <br />of 60 days. <br />The owner reserves the right to reject any or all bids and to waive informalities. <br />Designer: <br />CRA Associates, Inc <br />222 Cloister Court, Chapel Hill, NC 27514 <br />(919) 401 -8586 <br />NTB -2 <br />Owner: <br />Orange County Government <br />200 S Cameron Street, Hillsborough, NC 27278 <br />(919) 732 -8181 <br />