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<br />upon or arising out ot damage or injury, including death, to <br />persons or property caused by or sustained in connection with <br />the performance of any contract or by conditions created <br />thereby, or based upon any violation of any statute, ordinance, <br />or regulation, and the defense of any such claims or actions. <br /> <br />4. Require all Construction Firms and their subcontrac- <br />tors to maintain the following: <br /> <br />a. Workmen's compensation and employers' liability <br />insurance. <br /> <br />b. Automobile liability insurance for all vehicles. <br /> <br />c. Comprehensive general liability insurance in at <br />least the following amounts; <br /> <br />(l) For any injury to one person in any single <br />occurrence, the sum of Five Hundred Thousand <br />Dollars ($500.000). <br /> <br />(2) For any injury to two or more persons in any <br />single occurrence, the sum of One Million Dollars <br />($1.000,000) . <br /> <br />Said liability insurance shall name the Borrower and <br />the State as co-insureds. No payments shall be made <br />under this contract unless a copy of a certificate of <br />said liability insurance has been filed with the <br />Colorado Water Conservation Board. <br /> <br />5. Execute a warranty deed which shall convey the <br />following real property to the Board as security for the loan: <br /> <br />An undivided fifty percent (50%) of the following: <br /> <br />a. 15,000+ cubic yards of embankment between station <br />46+67 and station 95+70. <br /> <br />b. 975+ cubic yards of non-reinforced concrete <br />between station 46+67 and station 95+70. <br />, <br /> <br />C. 44+ cubic yards of reinforced concrete at station <br />65+15. <br /> <br />d. 45 linear feet of IS-inch R.C. pipe. <br /> <br />e. 22.5 linear feet of IS-inch R.C. pipe. <br /> <br />f. 30 linear feet of 24-inch R.C. pipe. <br /> <br />The deed will be recorded by the Borrower in the <br />proper county or counties and all recording fees shall be paid <br />by the Borrower. The retainage shall not be paid to the <br />Borrower until a warranty deed has been executed, recorded, and <br />filed with the Colorado Water Conservation Board. <br /> <br />6. Permit periodic inspection of construction by <br />authorized representatives of the State during and after <br />construction. <br /> <br />7. Without expense to the State, manage, operate, and <br />maintain the project continuously in an efficient and <br />economical manner, and assume all legal liability for such <br />management, operation, and maintenance. The Borrower agrees to <br />indemnify and hold the State harmless from any liability as a <br />result of the State's interest in the project facilities and <br />any other property identified in paragraph A.5. above. The <br />Borrower shall maintain general liability insurance covering <br /> <br />Page 2 of 8 Pages <br />