181-26 Exhibit A- Final Specifications_compressed.pdf

In the event that the Owner shall reject all bids or shall not award a contract within sixty (60) days after the opening of bids, all certified checks, cashier's checks and bid bonds shall be returned within three (3) days after such rejection or the expiration of such period, as the case may be. 9. PERFORMANCE AND MAINTENANCE BOND The successful bidder at the time of the execution of the Contract must deposit with the Owner a surety company bond for the satisfactory completion of the work in an amount equal to the amount of the contract award. The form of the bond and the surety shall be acceptable to the Owner. Surety companies shall be only those authorized to transact business in New Jersey. Prior to the payment of the final estimate, the Contractor shall furnish a certificate from their surety stating that the performance bond covers the one-year defective workmanship and materials guarantee period or if it does not, the Contractor shall provide a separate Maintenance Bond. The Maintenance Bond shall include the following: "In case of default under this obligation, it is understood that the Owner has the option of taking the cash or of having the Surety do the work." 10. EXECUTION OF CONTRACT The party to whom Contract is awarded or their authorized representative will be required to execute the Contract within ten (10) business days from the date of Notice of Award, and, in case of their failure or neglect to do so, the Owner may, at its option, determine that the bidder has abandoned the Contract, and thereupon the proposal and acceptance shall be null and void, and the security accompanying the proposal shall be forfeited to the Owner. 11. CONTRACTOR'S INSURANCE The Contractor shall secure and maintain such insurance from insurance company authorized to write casualty insurance in the State as will protect themself, their subcontractors, and the Owner from claims for bodily injury, death or property damage which may arise from operations under this Contract. The Contractor shall not commence work under this Contract until they have obtained all insurance required under this section and until he has filed a certificate of insurance with the Owner prior to award of bid. Each insurance policy shall

tract until they have obtained all insurance required under this section and until he has filed a certificate of insurance with the Owner prior to award of bid. Each insurance policy shall contain a clause providing that it shall not be canceled by the insurance company without ten (10) days written notice to the Owner of intention to cancel. An endorsement showing the Township of West Orange to be additionally insured shall be included in all policies as follows: "The Township of West Orange, its officers, agents, servants, and employees as their interest may appear are covered by this policy". All parties to the Contract must be named in the Certificate of Insurance as additional insured/co-insured. The amounts of such insurance shall not be less than the following: a) Workmen's Compensation and Employer's Liability Insurance shall be secured and maintained as required by the State. b) Public Liability, Bodily and Property Damage: 1. Injury or death $1,000,000 occurrence/ $2,000,000 aggregate 2. Property Damage $ 250,000 occurrence/ $ 500,000 aggregate 3. Fire and Extended Coverage Equal to bid price c) Automobile and Truck Public Liability IB-3