Renovation of a multi-residential development in Exeter, New Hampshire. Completed plans call for the renovation of a multi-residential development.

Tentative Award Date 4/5/2024 The sealed envelope should be plainly marked: B 16-24 CIP541 - FY 2024 Merrimack River Greenway Trail Project Phase 2 - Gully Hill Fields Concord, NH Bids may be issued only by the Purchasing Manager, or her designee, to authorized firms and are not transferable unless authorized by the Purchasing Manager, or her designee. Each bid shall be accompanied by a certified check, cash, check drawn by a New Hampshire bank, or bid bond for and subject to conditions provided in the Instruction to Bidders. The amount of such bid deposit shall be ten percent (10%) of the total bid, made payable to the City of Concord, New Hampshire. The successful bidder will be required to furnish a performance bond and a separate payment bond each in the amount of one hundred percent (100%) of the contract price. Progress Payments: On not later than the last day of every month, the Contractor shall prepare and submit an invoice covering the total quantities of work that have been completed from the start of the job up to and including the last day of the preceding month together with such supporting evidence as required by the CITY. Retainage: The CITY shall retain a portion of the progress payments, each month, in accordance with the following procedures: 1. Until work is 50% complete, as determined by the CITY, retainage shall be 10% of the monthly payments claimed. The computed amount of retainage shall be deposited in a noninterest bearing account established by the CITY. 2. After the work is 50% complete, and provided the Contractor has satisfied the CITY in quality and timeliness of the work, and provided further that there is no specific cause for withholding additional retainage no further amount shall be withheld. 3. Upon substantial completion, the amount of retainage shall be reduced to 2% of the total contract price plus an additional retainage based on the CITY's estimate of the fair value of the punch list items and the cost of completing and/or correcting such items of work, with specified amounts for each incomplete or defective item of work. As these items are completed or corrected, they shall be paid out of the retainage until the entire project is declared completed. The final 2% retainage shall be held, in the non-interest bearing account, during the two year warranty period and released only after the CITY has accepted the project. Liquidated Damages: In the event that the Contractor fails to satisfactorily complete the work contemplated and provided for under this contract, on or before the date of completion (September 1, 2024), the CITY shall deduct from the payments due the Contractor each month, the sum of eight hundred dollars ($800.00) plus engineering charges per day for each calendar day of delay, which sum is agreed upon not as a penalty, but as fixed and liquidated damages for each day of such delay, to be paid in full and subject to no deduction. If the payments due the Contractor are less than the amount of such liquidated damages said damages shall be deducted from any other monies due or to become due the Contractor or shall be paid by the Contractor's surety. The CITY reserves the right to reject any or all bids or any part thereof, to waive any formality, informality, information and/or errors in the proposal, to accept the proposal considered to be in the best interest of the CITY, or to purchase on the open market if it is considered in the best interest of the CITY to do so. Failure to submit all information as detailed on the Bid Submission Checklist and/or submission of an unbalanced bid are sufficient reasons to declare a proposal as non-responsive and subject to disqualification.