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properly perform this Contract, without reimbursement by the State or other adjustment in Contract price. <br />Additionally, ali employees of Grantee performing services under this Contract shall hold the required <br />licenses or certification, if any, to perForm their responsibilities. Grantee, if a foreign corporation or other <br />entity transacting business in the State of Colorado, further certifies that it currently has obtained and shall <br />maintain any applicable certificate of authority to do business in the State of Colorado and has designated <br />a registered agent in Colorado to accept service of process. Any revocation, withdrawal or non-renewal of <br />licenses, certifications, approvals, insurance, permits or any such similar requirements necessary for <br />Grantee to properly perform this Contract, shall be deemed to be a default by Grantee and grounds for <br />termination of this Contract by the State. <br />17. Tax Exempt Status <br />Grantee acknowledges that the State of Colorado is not liable for any sales, use, excise, property or other <br />taxes imposed by any Federal, State or locaf government tax authority. The State also is not liable for any <br />Grantee franchise or income related tax. No taxes of any kind shall be charged to the State. <br />18. Legal Authority <br />Grantee warrants that it possesses the legal authority to enter into this Contract and that it has taken all <br />actions required by its procedures, by-laws, and/or applicable laws to exercise that authority, and to lawfully <br />authorize its undersigned signatory to execute this Contract and to bind Grantee to its terms. In any event, <br />Grantee agrees it shall submit voluntarily to the personal jurisdiction of the Federal and State courts in the <br />State of Colorado and venue in the City and County of Denver, Colorado. The person(s) executing this <br />Contract on behalf of Grantee warrant(s) that such person(s) have full authorization to execute this <br />Contract. <br />19. Compliance with Applicable Law <br />Grantee shall at all times during the execution of this Contract strictly adhere to, and comply with, all <br />applicable Federal and Colorado State laws, and their implementing regulations, as they currently exist and <br />may hereafter be amended, which laws and regulations are incorporated herein by this reference as terms <br />and conditions of this Contract. Grantee also shall require compliance with such laws and regulations by <br />subcontractors under subcontracts permitted under this Contract. <br />REMEDIES <br />20. Remedies <br />In addition to any other remedies provided for in this Contract, and without limiting the remedies otherwise <br />available at law or in equity, the State may exercise the following remedial actions if Grantee substantially <br />fails to satisfy or perform the duties and obligations in this Contract. "Substantial failure" to satisfy duties <br />and obligations shall be defined to mean material, insufficient, incorrect or improper performance, activities, <br />or inaction by Grantee. These remedial actions are as follows: <br />(a) Suspend Grantee's performance pending necessary corrective action as specified by the <br />State, without Grantee's entitlement to adjustment in price/cost or schedule. Furthermore, at <br />the State's option, a directive to suspend may include suspension of this entire Contract or any <br />particular part of this Contract that the State determines in good faith would not be beneficial or <br />in the State's best interests due to Grantee's substantial non-performance. Accordingly, the <br />State shall not be liable to Grantee for costs incurred after the State has duly notified Grantee <br />of the suspension of performance under this provision, and Grantee shall promptly cease <br />perFormance and incurring costs in accordance with the State's directive; <br />(b) Withhold payment to Grantee until the necessary Services or corrections in performance or <br />development are satisfactorily completed; <br />Page 7 of 15