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Minot, ND 58701 bidder’s bond in a sum equal to 5% of the full amount of the bid execut- ed by the bidder as principal and by a surety, conditioned that if the principal’s bid is accepted and a contract is awarded to the principal, the principal, within ten (10) days after the notice of the award, shall execute a contract in accordance with the terms of the bid and the bid bond, and any conditions of the City of Tioga, as required by law. A countersignature of a bid bond is not required. If the City of Tioga elects to award a contract to the lowest ....