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5.34.680 Time for City Acceptance; Extension.

(Amended by Ordinance No. 185898, effective February 20, 2013.)

A.  Time for Offer Acceptance.  An Offer submitted as a Firm Offer is irrevocable, valid and binding on the Offeror for not less than 30 Days from Closing unless otherwise specified in the Solicitation Document. After 30 Days, or such other period of time specified in the Solicitation Document, the Offer shall lapse unless extended.

B.  Extension of Acceptance Time.  The City may request, orally or in Writing, that Offerors extend, in Writing, the time during which the City may consider and accept their Offer(s).  If an Offeror agrees to such extension, the Offer shall continue as a Firm Offer, irrevocable, valid and binding on the Offeror for the agree-upon extension period.  The extension may occur after the 30-Day time period referenced in Subsection 5.34.680 A.