The construction manager may require each person bidding for a contract with the construction manager pursuant to Section 171.06 to file with his bid a guaranty in the form of either a bond, a certified check, cashier's check or letter of credit provided by a bank licensed to do business in Ohio and in a form approved by the construction manager and revocable only at the option of the construction manager, equal to an amount not to exceed ten percent (10%) of the amount bid. Such bid guaranty, if required by the construction manager, shall be conditioned to provide that if the bid is accepted, the bidder will, after the selection and approval for the award of the contract, enter into a proper contract in accordance with the bid and any plans, details, specifications and bills of material. (Ord. 77-1984. Passed 10-1-84.)