Each proposal submitted shall be accompanied by a certified check, cashier’s check, or bond made payable to the City of Lewiston in the amount of ten (10%) percent of the total amount offered. The required proposal deposit shall be applied to the purchase price for the successful proposal or shall be returned within ten (10) days of the selection of a proposal. If any proposer fails to abide by his/her proposal, the bid security will be forfeited to the City.