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({e) Unless precluded elsewhere in the solicitation, the PHA/IHA may accept any item or combination of items bid. (f) The PHA/IHA may reject any bid as nonresponsive if it is materially unbalanced as to the prices for the various items of work to be performed. A bid is materially unbalanced when it is based on Prices significantly less than cost for some work and prices which are significantly overstated for other work. (g) Awritten award shall be furnished to the successful bidder within the period for acceptance specified in the bid and shail result in a binding contract without further action by either party. 9. Bid Guarantee (applicable to construction and equip- ment coniracts exceeding $25,000) All bids must be accompanied by a negotiable bid guarantee which shali not be less than five percent (5%) of the amount of the bid. The bid guaraniee may be a certified check, bank draft, U.S. Government Bonds at par value, or a bid bond secured by a surety company accepiable to the U.S. Government and authorized to do business in the siate where the work is to be performed. In the case where the work under the contract will be performed on an Indian reservation area, the bid guarantee may also be an irrevocable Letter of Credit {see provision 10, Assurance of Completion, below). Certified checks and bank drafis must be made payable to the order of the PHA/IHA. The bid guarantee shail insure the execution of the contract and the furnishing of a method of assurance of completion by the successful bidder as required by the solicitation. Failure to submit a bid guarantee with the bid shall result in the rejection of the bid. Bid guarantees submitted by unsuccessful bidders will be returned as soon as practicable after bid opening. 10. Assurance of Completion (a) Unless otherwise provided in State law, the successful bidder shall furnish an assurance of completion prior to the execution of any contract under this solicitation. This assurance may be [Contracting Officer check applicable items] — [ ] () a performance and payment bond in a penal sum of 100 percent of the contract price; or, as may be required or permitted by State law; I] (2) separate performance and payment bonds, each for 50 percent or more of the contract price; UJ (8) a 20 percent cash escrow; [] (4) a 25 percent irrevocable letter of credit; or, [ ] (©) an irrevocable letter of credit for 10 percent of the total contract price with a monitoring and disbursements agreement with the IHA (applicable only to contracts awarded by an IHA under the Indian Housing Program). (b) Bonds must be obiained from guarantee or surety companies acceptable to the U.S. Government and authorized to do business in the state where the work is to be performed. Individual sureties will not be considered. U.S. Treasury Circular Number 570, published annually in the Federal Register, lists companies approved to act as sureties on bonds securing Government contracts, the maximum underwriting limits on sach contract bonded, and the States in which the company is licensed to do business. Use of companies listed in this circular is mandatory. Copies of the circular may be downloaded on the U.S. Department of Treasury website http:// www.fms.treas.gov/e570/index.html, or ordered for a minimum fee by contacting the Government Printing Office at (202) 512-2168. (c) Each bond shali clearly state the rate of premium and the total amount of premium charged. The current power of attorney for the person who signs for the surety company must be attached to the bond. The effective date of the power of attorney shall not precede the date ofthe bond. The effective date of the bond shall be on or after the execution date of the contract. (d) Failure by the successful bidder to obtain the required assur- ance of completion within the time specified, or within such extended period as the PHA/IHA may grant based upon reasons determined adequate by the PHA/IHA, shall render the bidder ineligible for award. The PHA/IHA may then either award the contract to the next lowest responsible bidder or solicit new bids. The PHA/IHA may retain the ineligible bidder's bid guarantee. 11. Preconstruction Conference (applicable to construction contracis) After award of a contract under this solicitation and prior to the start of work, the successful bidder will be required to attend a preconstruction conference with representatives of the PHA/IHA and its architect/engineer, and other interested parties convened by the PHAAHA. The conference will serve to acquaint the participants with the general plan of the construction operation and all other require- ments of the contract (e.g., Equal Employment Opportunity, Labor Standards), The PHA/IHA will provide the successful bidder with the date, time, and place of the conference. 12. Indian Preference Requirements (applicable only it this solicitation is for a contract to be performed ona project for an indian Housing Authority) (a) HUD has determined that the contract awarded under this solicitation is subject to the requirements of section 7(b) of the Indian Self-Determination and Education Assistance Act (25 U.S.C. 450e(b)). Section 7(b) requires that any contract or subcontract entered into for the benefit of Indians shall require that, to the greatest extent feasible (1) Preferences and opportunities for training and employment (other than core crew positions; see paragraph (h) below) in connec- tion with the administration of such contracts or subcontracts be given to qualified “Indians.” The Act defines “Indians” to mean persons who are members of an Indian tribe and defines “Indian tribe” to mean any Indian irlbe, band, nation, or other organized group or community, including any Alaska Native village or regional or village corporation as defined in or established pursuant to the Alaska Native Claims Settlement Act, which is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians; and, (2) Preference in the award of contracts or subcontracts in connection with the administration of contracts be given to Indian organizations and to Indian-owned economic enterprises, as de- fined in section 3 of the Indian Financing Act of 1974 (25 U.S.C. 1452). That Act defines “economic enterprise” to mean any Indian- owned commercial, industrial, or business activity established or organized for the purpose of profit, except that the Indian ownership must constitute not less than 51 percent of the enterprise; “Indian organization” to mean the governing body of any Indian tribe or entity established or recognized by such governing body; “Indian” to mean any person who is a member of any tribe, band, group, pueblo, or community which is recognized by ihe Federal Government as eligible for services from ihe Bureau of Indian Affairs and any “Native” as defined in the Alaska Native Claims Settlement Act; and Indian “tribe” t¢0 mean any Indian tribe, band, group, pueblo, or community including Native villages and Native groups (including Previous edition is obsoiete Page 3 of 4 form HUD-5369 (10/2002)

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