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•f <br /> any officer competent to administer an oath, in double said amount and over <br /> and above all statutory exemptions. Said check shall be forfeited or said <br /> bond shall become payable to said TOWN in case the bidder depositing the <br /> same does not, after the contract has been awarded to him, and within the <br /> time specified in said plans and specifications, enter into a contract, in form <br /> as set forth in said specifications, with the TOWN, the faithfulp erformance of <br /> which shall be assured by an undertaking in the amount of one hundred <br /> percent (100%) of•the amount so bid, with sureties satisfactory to this City <br /> Council, and which shall be accompanied by a payment bond (labor and <br /> materials) in a sum not less than one hundred percent (100%) of the amount <br /> of said bid. <br /> 5. Said sealed proposals or bids shall be delivered to the City Clerk of <br /> the TOWN on or before 2:00 o'clock P.M. of the 29th day of July, 1988, at the <br /> office of the City Clerk in the Town Hall, 26379 Fremont Road, in the TOWN, <br /> said time being not less than ten (10) days from the time of the first <br /> publication of said Notice. Bids will be publicly opened, examined and the <br /> Council will take action awarding the contract or rejecting all bids not later <br /> than thirty (30) days after the expiration of the time herein prescribed for <br /> the receipt of bids; provided that the award may be made after the expiration <br /> of the specified time if the bidder shall not have given to the Council notice in <br /> writing of the withdrawal of such bid or proposal. <br /> -3- <br />