STATE ROADS 3285

struction and improvement of the road contracted for. To all such bids
there shall be attached the certified check of the bidder, and the bidder
who has the contract awarded to him and who fails to promptly and
properly execute the contract and bond shall forfeit the said contract. The
said check shall be taken and considered as liquidated damages, and not
a penalty, for failure of said bidder to execute said contract and bond.
Upon the execution of said contract and bond by a successful bidder his
check shall be returned to him. The amount of the check to be attached
to the bid shall be based on the aggregate amount of the bid submitted and
covered by the following table:

Aggregate Amount of Bid Amount of Check

Less than $20,000.......................... $ 500

$20,000 to $50,000......................... 1,000

50,000 to 75,000......................... 1,500

75,000 to 125,000......................... 2,000

125,000 to 175,000......................... 2,500

175,000 to 225,000........................... 3,000

225,000 to 275,000......................... 4,000

275,000 to 325,000......................... 5,000

325,000 to 375,000......................... 6,000

375,000 to 425,000.......................... 7,000

425,000 to 475,000.......................... 8,000

475,000 to 525,000........................... 10,000

525,000 to 575,000.............................. 12,000

575,000 to 625,000......................... 15,000

625,000 to 675,000........................... 18,000

675,000 to 725,000......................... 22,000

725,000 to 775,000........................... 25,000

775,000 to 825,000......................... 30,000

825,000 to 875,000......................... 35,000

875,000 to 925,000.......................... 40,000

925,000 to 975,000........................... 45,000

975,000 to 1,000,000 ........................ 50,000

To all bids over $500,000 there shall be attached the certified check of
the bidder according to the schedule above set forth, or he may, with the
approval of the State Roads Commission, accompany said bid by a bid
bond with such surety or sureties, acceptable to the Commission, in penal-
ties equal to the respective amounts set forth in the aforegoing schedule,
the obligation of which said bond shall be that the bidder to whom the
contract is awarded shall promptly and properly execute the contract and
furnish bond for the completion of the work provided thereunder, as pro-
vided in the specifications.

To all bids over $1,000,000 there shall be attached a bid bond with
such surety or sureties, acceptable to the Commission, in a penalty equal
to five per cent. (5%) of the amount of said bid, the obligation of which
said bond shall be that the bidder will promptly and properly execute the
contract and bond provided for in the specifications.

If any bidder who files a bid bond under the provisions of this section
shall fail to promptly and properly execute the bond for the completion
of the work provided thereunder, as provided in the specifications, then
said bid bond shall be in default and the surety shall be liable thereon for
the full amount of damage sustained by the State Roads Commission by