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Cities of Dublin and Pleasanton | Disaster Debris Management Plan | 2022 122 for the proposing organization. Proposals submitted without the most current certified financial statement or U.S. Securities and Exchange Commission (“SEC”) Form 10K shall be considered non-compliant with the RFP. Performance Bonds To ensure faithful performance, the Contractor shall provide to the City and maintain a Performance Bond due upon issuance of a Notice to Proceed (NTP). (a) In the event the Contractor is notified by the City to commence disaster services in the form of a Notice to Proceed, the Contractor shall provide a Performance and Payment Bond to the City within seven days. (b) The Performance and Payment Bond shall be in an amount at least equal to the estimated price of the work as determined by the City and in such form and with such securities are acceptable to the City. The City may require the Contractor to furnish other bonds, in such form and with such sureties as it may require. If the estimated price of work is increased by a change order, the Contractor shall be responsible to ensure that the Performance and Payment Bond has been amended accordingly and of copy of the amendment shall be provided to the City's Debris Manager. The maximum amount of any Bond shall not exceed 10 million dollars. Upon the successful completion of work, the Performance and Payment Bonds shall be released by the City. (c) If the Surety on any bond furnished by the Contractor is declared bankrupt or becomes insolvent or its right to do business is terminated in the State of California or it ceases to meet the requirements imposed by the City, the Contractor shall within five (5) calendar days substitute another Bond and Surety, both of which shall be acceptable to the City. (d) If the Contractor cannot obtain another bond and surety within (5) calendar days, the City shall accept, and the Contractor shall provide an irrevocable letter of credit drawn on a City of _______________, California bank until the bond and surety can be obtained. Liquidated Damages Should the Contractor fail to complete requirements set forth in this scope of work, the City shall suffer damage. The amount of damage suffered by the City is difficult, if not impossible to determine at this time, therefore the Contractor shall pay the City, as liquidated damages, the following: a. The Contractor shall pay the City, as liquidated damages, $5,000.00 per calendar day of delay to mobilize in the City with the resources requested by the City, within seventy-two (72) hours of being issued a NTP. b. The Contractor shall pay the City, as liquidated damages, $1,000.00 per load of disaster debris collected in the City that is not disposed of at a City approved DMS or City Designated Final Disposal Site. Application of liquidated damaged does not release the Contractor of all liability associated with hauling and depositing material to an unauthorized location. c. The Contractor shall pay the City, as liquidated damages, $500.00 per incident where the Contractor fails to repair damages that are caused by the Contractor. Application of liquidated damages does not release the Contractor from the responsibility of resolving, repairing or paying for damages. d. If Contractor personnel, including their subcontractors, are documented collecting debris from areas that are not listed in a PO (i.e., private property, vacant lots, land clearing debris), then liquidated damages shall be assessed at $1000.00 per incident. An incident shall entail each individual property as identified by a property identification number.