Site work for a road / highway in Norwalk, Iowa. Completed plans call for site work for a road / highway.

Surety Bond. Each successful bidder will be required to furnish a corporate surety bond in an amount equal to 100% of its contract price. Said bond shall be issued by a responsible surety approved by the City of Norwalk and shall guarantee the faithful performance of the contract and the terms and conditions therein contained and shall guarantee the prompt payment of all material and labor, and protect and save harmless City of Norwalk from claims and damages of any kind caused by the operations of the contract and shall also guarantee the maintenance of the improvement caused by failures in materials and construction for a period of two years from and after acceptance of the contract. The guaranteed maintenance period for new paving shall be four years. Bid Security. Each bidder shall accompany its bid with bid security as defined in Iowa Code Section 26.8, as security that the successful bidder will enter into a contract for the work bid upon and will furnish after the award of contract a corporate surety bond, in a form acceptable to the Jurisdiction, for the faithful performance of the contract, in an amount equal to 100% of the amount of the contract. The bidder's security shall be in the amount fixed in the Instruction to Bidders and shall be in the form of a cashier's check or a certified check drawn on an FDIC insured bank in Iowa or on an FDIC insured bank chartered under the laws of the United States; or a certified share draft drawn on a credit union in Iowa or chartered under the laws of the United States; or a bid bond on the form provided in the contract documents with corporate surety satisfactory to the Jurisdiction. The bid shall contain no condition except as provided in the specifications. Time for Commencement and Completion of Work. Work on the improvements shall commence any time after a written Notice to Proceed is issued and shall be completed as stated below. The Notice to Proceed will be issued after the preconstruction conference, which is expected to occur in March 2024. The Contractor shall substantially complete the overall project by August 16, 2024. For this project, substantial completion for the overall project shall be defined as all traffic signal work completed and signal operating. Should the Contractor fail to substantially complete the work within this timeframe, liquidated damages of Five Hundred Dollars ($500.00) per calendar day will be assessed for the work not completed within the designated Contract term(s). The Contractor shall fully complete the overall project within fifteen (15) working days after substantial completion is met. For this project, fully complete shall be defined as completion and approval by City and Engineer of all punchlist items, surface restoration, and submittal of final payment application. Should the Contractor fail to fully complete the work within this timeframe, liquidated damages of Two Hundred Fifty ($250.00) per calendar day will be assessed for the work not completed within the designated Contract term(s).