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2.600 BIDDER' S GUARANTEE <br /> All bids shall be presented under sealed cover and shall be <br /> accompanied by cash, cashier' s check, certified check, or bidder' s <br /> bond, made payable to the City of Lodi , for an amount equal to at <br /> least ten percent (10%) of the amount of said bid, and no bid <br /> shall be considered unless such cash, cashier' s check, certified <br /> check or bidder' s bond is enclosed therewith. <br /> All bidder' s guarantees will be returned to the respective bidders <br /> after the contract has been awarded, except for those bid <br /> guarantees of bidders who may be given further consideration if <br /> the low bidder does not elect to execute the contract. After the <br /> award, if the Contractor awarded the bid does not execute the <br /> contract, the bidder' s guarantee will be forfeited. All bidder <br /> guarantees of unsuccessful bidders will be returned upon receiving <br /> the executed contract. <br /> 2.700 DESIGNATION OF THE SUBCONTRACTOR <br /> Any subcontractor doing work in excess of one-half of one percent <br /> (1/20) of the total contract price shall be designated on the form <br /> provided in accordance with Sections 4100, et seq. , of the Govern- <br /> ment Code. <br /> 2.800 AWARD OF CONTRACT <br /> The award of the contract, if it be awarded, will be to the lowest <br /> responsible Bidder whose bid proposal complies with all the <br /> requirements described. <br /> Where alternate bids are received, the City Council reserves the <br /> right to select the bid most advantageous to the City. The award, <br /> if made, will be made within thirty (30) days after the opening of <br /> the bids . All bids will be compared on the basis of the <br /> Engineer' s Estimate of quantities of work to be done. <br /> 2.900 EXECUTION OF CONTRACT <br /> The contract shall be signed by the successful Bidder and <br /> returned, together with the contract bonds , within ten (10) <br /> working days, after the Bidder has received notice that the <br /> contract has been awarded. No proposal shall be considered <br /> binding upon the City until the execution of the contract. <br /> Failure to execute a contract and file acceptable bonds as <br /> provided herein within ten (10) working days, after the Bidder has <br /> received notice that the contract has been awarded shall be just <br /> cause for the annulment of the award and the forfeiture of the <br /> proposal deposit. <br /> 2.2 <br /> TANK2/TXTW.02M <br />