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4. All proposals or bids shall be accompanied by a certified check payable to the order of said Town, or cash, amounting to ten percent (10%) of the bid, or by a bond in said amount and payable to said Town, signed by a corporate surety or by the bidder and two sureties who shall justify before any officer competent to administer an oath, in double said amount and over and above all statutory exemptions. Said check shall be forfeited or said bond shall become payable to said Town in case the bidder depositing the same does not, after the contract has been awarded to him, and within the time specified in said plans and specifications, enter into a contract, in form as set forth in said specifications, with the said Town, the faithful performance of which shall be assured by an undertaking in the amount of one hundred per cent (100%) of the amount so bid, with sureties satis- factory to this City Council , and which shall be accompanied by a payment bond (labor and materials) in a sum not less than one hundred percent (100%) of the amount of said bid. 5. Said sealed proposals or bids shall be delivered to the City Clerk of the City of the Town of Los Altos Hills on or before two o'clock p.m. on the 24th day of May, 1979, at the office of the City Clerk in the Town Hall , 26379 Fremont Road, in said Town of Los Altos Hills, said time being not less than ten (10) days from the time of the posting of said notice. Bids will be publicly opened, examined and the Council will take action awarding the contract or rejecting all bids not later than thirty (30) days after the expiration of the time herein prescribed for ' the receipt of bids; provided that the award may be made after the expiration of the ' specified time if the bidder shall not have given to the Council notice in writing of the withdrawal of such. bid or proposal . 6. The said City Council of the City of the Town of Los Altos Hills hereby reserves the right to reject any and all bids. REGULARLY PASSED and adopted this 2nd day of May , 1979. APPROVED: ' ATTEST: CITY CIuNCIL i y C y -2-