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NO bid will be considered for less ~h~n all of the Bonds of both issues, or for a price less than par and accrued interest from the date of %b~ Bonds to ~he date of their delivery. The right is reserved to reject any and all bids or to waive any irregularities or informalities in any bid. Proposals must be unconditional, mush be on t/ne City's proposal form prepared for the purpose, raush.be submitted in sealed envelopes marked "Proposal for City of portsmouth, Virginia, Bonds" addressed to the under- signed and must be accompanied by a certified or bank cashier's check in the amount of $240,000 payable to ~/ae order of the City of Portsmouth, Virginia, as a guarantee of good faith, on ~dae p~rt of the bidder. No interest will be paid by ~e City on said good faith deposit. Good faith checks of ~nsuccessfl~l bidders will be prc~pt!y re~urned to the repre- sentatives h~ereof. The good faith check of t~he successful bidder will k~ deposited by the City and the proceeds thereof credited against the purchase price due for the Bonds upon their delivery or retained as and for liquidaf~~d damages in ~he event the successful bidder fails to take up and pay for the Bonds in accordence with its bid. The Bonds will be printed at the exp~nse of the City. Delivery of the Bonds, properly executed, and the usual closing papers, including a certificate that no litigation is pending affecting the validity of the Bonds, will be made to the successfuf~ bidder J~n N~ York, N~ York~ on July 2, 1980, or as soon thereafter as the Bonds may be prepared. Pay- ment of the balance of the p~archase price, including any premium offere~d, must be made in Federal Funds. It is anticipated that CJSIP identificatmon numbers will be prin~ed on the BOnds, but neither the failure to print any suc~ number on any Bond nor ~%y error or omission with respect ~hereto shall constitute cause for failure or refusal by the successful bidder for the Bonds to accept delivery of and pay for the Bonds in accordance with the terms of its proposal. No C~gSiP mdenulfmcatio n~m'oer shall constitute or be deemed to be a part of ~Lqy Bond or a park of the contract evidenced thereby and no liability shall attach to the City or any of its officers or age, ts because of or on account of any such n~mber or ~ny use made thereof. All expenses in relation to the prin~hlg of CJSIP_ identification n~-ab=~rs on the Bonds shall be paid for by the City; provided, h~ever, that the .CUSIP Service Bureau charge fo~ the assiq~m~ent of said numbers shall be the responsibility of and shall be ~ai~ by the successf~tl bidd~r for the Bondsl The respective opinion of M~ssrs. %,~ood & Dawson approving the validity of each issue of Bonds will be furbished ~ successful bidder for the Bonds. Each such opinion will s~ate that the respective Bonds constitute valid and legally' bindirg obligations of the City e~nd ~aat the City has p~er and is 11