26-19 Exhibit-Authorizing Third Extension of Agreement with Reliable Wood for Operation of Recycling Center.pdf

6, Detailed Site Improvement Plan Oto5 1.08.4 Any Bid submitted shall be for a three (3) year contract to commence October 1, 2013 with two (2) options to renew for additional one year periods. The Township will notify the Operator 120 days prior to the expiration of the three (3) year contract if it will exercise the option to renew for another one year period. Should the contract be extended for one (1) additional year, the Township will notify the Operator 120 days prior to the expiration of the one year extension if it will exercise the option and renew the contract for the fifth and final year. 1.08.5 ‘The successful Respondent shall commence the work contemplated herein upon receipt of a written Notice-to-Proceed from the Township of West Orange, which shail be issued within 15 calendar days following the execution of the Contract by both parties. 1.09 Insurance 1.09.1 Before commencing work, the respondent shall furnish the Township of West Orange with insurance certificate copies providing evidence of coverage. The Insurance requirements are specified in Section 2.24, Performance Bond and Insurance. ' 1.09.2 The Respondent shall maintain the above coverage in force for the duration of the contract. | 1.09.3 The coverage under Section 2.24 shall be endorsed to include the _.-___.._ Township of West Orange as additional insured for the duration ofthe... ~ Contract. 1.10 Bid Proposal Security 1.10.1 Each proposal must be accompanied by a bid security in the form of a certified check from the Respondent, or a “bid bond” supplied by the tesponding party or its third-party company, and duly executed by the Respondent as principal and by a reputable surety company cated A+ or better by A.M. Best Company’s Insurance Rating, licensed to do business under the laws of and in the State of New Jersey and satisfactory to the Township of West Orange, as Surety. The amount of the bid security shall be ten (10%) percent of the Total Contract Amount indicated in the Proposal Form, not to exceed $20,000. 1.10.2 The bid security will be held by the Township of West Orange as security for fulfillment of the Respondent’s Promises, as set forth in this Proposal, that it will not withdraw the Proposal while it is being considered and that it will execute the Contract and furnish all required bonds, insurances,