separate envelope containing the percent of the full amount of the bid and must be in the form of a bidder’s bond. A bidder’s bond must be exe- cuted by the bidder as principal and by a surety, conditioned that if the principal’s bid is accepted and the contract awarded to the principal, the principal, within ten days after notice of the award, shall execute a contract in accordance with the terms of the bid and the bid bond, and any condition of the City of Minot, as required by law. A counter- signature of a bid bond is not re-