Renovation of a multi-residential development in Beverly, Massachusetts. Completed plans call for the renovation of a multi-residential development.

Project: Replacement of ballasted EPDM roof membrane and insulation with modified bitumen roof system including replacement of metal coping caps and roof drains. Each Bid shall be accompanied by Bid security in the form of a: Bid Bond in a form satisfactory to Owner; with a surety company qualified to do business in the Commonwealth of Massachusetts, or Cash, payable to the Owner, and delivered as outlined in "Cash Bid Bond Affidavit" form, or Certified check, treasurer's or cashier's check issued by a responsible bank or trust company, payable to the Owner, and delivered as outlined in "Cash Bid Bond Affidavit" form. The Bid security of the three (3) lowest responsible and eligible General Bidders shall be returned upon the execution and delivery of the General Contract or, if no award is made, after expiration of thirty (30) days (Saturday, Sundays and legal holidays excluded) after the opening of the General Bids; except that, subject to MGL c. 149, if any General Bidder fails to perform its agreement to execute a General Contract and furnish a Performance Bond and also a Labor and Materials or Payment Bond as stated in its Bid in accordance with MGL c.149 Section 44E, its Bid security shall become the property of Owner, as liquidated damages; provided that the amount of the Bid security which becomes the property of Owner shall not, in any event, exceed the difference between its Bid and the Bid of the next lowest responsible and eligible Bidder. The amount of such Bid security shall be five (5%) percent of the bid price. The length of time between the Notice To Proceed date and the date of Substantial Completion shall be 30 calendar days. The length of time between the Substantial Completion and Final Completion shall be 14 calendar days.