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5.33.495 Time for City Acceptance.

(Amended by Ordinance No. 189878, effective March 4, 2020.)

A.  An Offeror’s Offer is a Firm Offer, irrevocable, valid and binding on the Offeror for not less than 60 Days from Closing unless otherwise specified in the Solicitation Document.  After 60 Days the Offer shall lapse unless extended.  The extension may occur after the expiration of the 60-Day period.

B.  An Offer may be extended beyond 60 Days if the Offeror and the City so agree.  If agreement is reached the time period for extension shall be reduced to Writing and the Offer will remain valid, irrevocable and binding on the Offeror for the agreed-upon extension period.