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equipment at an agreed upon price reduction from the Bidder (Seller) which will result in an appropriate reduction in the contract sum before final payment. LIQUIDATED DAMAGES KVEC and the successful bidder agree that time is of the essence in the delivery of the equipment, which is the subject of this bid, and that KVEC will suffer financial loss if the equipment is not delivered on time. Accordingly, KVEC and the vendor will agree to a provision in the contract setting liquidated damages at fifty dollars ($50.00) per day for each day after the required delivery date that vendor does not deliver the equipment to be purchased hereunder free of equipment defects and deviations. LOCAL SERVICE LOCATIONS Bidders shall specify proper service and maintenance operations that can complete repairs and regular operating maintenance for the equipment on site at KVEC facilities. The Bidder should also designate a facility, within 100 miles of Ellensburg, WA, that can perform factory- authorized warranty work, as well as other necessary repairs that otherwise cannot be completed on site. INSURANCE RESPONSIBILITY The successful bidder will be responsible for the equipment and shall properly insure the equipment during transit and until KVEC accepts the equipment in writing. CONSIDERATION AND PAYMENT The Contract will set forth the agreed upon price for the equipment to be paid by KVEC. Payment will be made net thirty (30) days after receipt by KVEC of invoice and completed W-9 IRS Form from the seller. KVEC’s tender of payment by check is sufficient. No charges for shipping, handling, packaging or insurance will be allowed unless stated in the contract. FAILURE TO PROMPTLY EXECUTE CONTRACT If the successful Bidder fails or refuses to sign and deliver the Contract, including the attached proposed contract conditions and the necessary insurance within fifteen (15) calendar days of contract award, KVEC may cancel the award to that Bidder and award to the next lowest responsible and responsive bidder meeting the bid specifications and the original low bidder shall have no recourse against the Agency. DISQUALIFICATION OR TERMINATION If the equipment to be provided hereunder by Bidder to KVEC exceeds $90,000.00, in total, KVEC reserves the right to disqualify the Bidder or terminate any contract with Bidder, at any time during its term, by written notification to successful Bidder, in accordance with the notification provisions above, in the event it is found that the certification filed by the Bidder during the procurement process was intentionally false or intentionally incomplete or in the event that Bidder engages in an impermissible contact. BID INSTRUCTIONS All blank spaces in the Bid Forms applicable to the Contract for which a Bid is being submitted must be appropriately filled in with ink and with both words and figures, and the Bid must be