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CT2018-1960 Loan Contract
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CT2018-1960 Loan Contract
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Last modified
11/8/2017 10:33:29 AM
Creation date
11/8/2017 10:33:15 AM
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Loan Projects
Contract/PO #
CT2018-1960
Contractor Name
Fort Lyon Canal Company
Contract Type
Grant/Loan Combo
Loan Projects - Doc Type
Contract Documents
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Commercial general liability insurance covering premises operations, fire damage, <br /> independent contractors, products and completed operations, blanket contractual liability, <br /> personal injury, and advertising liability with minimum limits as follows: <br /> i. $1,000,000 each occurrence; <br /> ii. $1,000,000 general aggregate; <br /> iii. $1,000,000 products and completed operations aggregate; and <br /> iv. $50,000 any 1 fire. <br /> The Borrower shall also ensure that at all times during the Project Performance Term each <br /> Subcontractor shall obtain and maintain insurance as specified in this section All insurance <br /> policies required by this Contract shall be issued by insurance companies as approved by <br /> the State. <br /> B. Workers' Compensation <br /> Workers' compensation insurance as required by state statute, and employers' liability <br /> insurance covering all Borrower or Subcontractor employees acting within the course and <br /> scope of their employment. <br /> C. Automobile Liability <br /> Automobile liability insurance covering any auto (including owned, hired and non-owned <br /> autos)with a minimum limit of$1,000,000 each accident combined single limit. <br /> D. Primacy of Coverage <br /> Coverage required of Borrower and each Subcontractor shall be primary over any insurance <br /> or self-insurance program carried by Borrower or the State. <br /> E. Cancellation <br /> The above insurance policies shall include provisions preventing cancellation or non- <br /> renewal, except for cancellation based on non-payment of premiums, without at least 30 <br /> days prior notice to Borrower and Borrower shall forward such notice to the State in <br /> accordance with §25 within 7 days of Borrower's receipt of such notice. <br /> F. Subrogation Waiver <br /> All insurance policies secured or maintained by Borrower or its Subcontractors in relation <br /> to this Contract shall include clauses stating that each carrier shall waive all rights of <br /> recovery under subrogation or otherwise against Borrower or the State, its agencies, <br /> institutions, organizations, officers, agents, employees, and volunteers. <br /> G. Public Entities <br /> If Borrower is a "public entity" within the meaning of the Colorado Governmental <br /> Immunity Act, §24-10-101, et seq., C.R.S. (the "GIA"), Borrower shall maintain, in lieu of <br /> the liability insurance requirements stated above, at all times during the term of this <br /> Contract such liability insurance, by commercial policy or self-insurance, as is necessary to <br /> meet its liabilities under the GIA. If a Subcontractor is a public entity within the meaning of <br /> the GIA, Borrower shall ensure that the Subcontractor maintain at all times during the terms <br /> of this Contract, in lieu of the liability insurance requirements stated above, such liability <br /> insurance, by commercial policy or self-insurance, as is necessary to meet the <br /> Subcontractor's obligations under the GIA. <br /> Page 11 of 19 <br /> Contract Number:CT2018-1960 <br />
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