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<br />when required by the State. be selected through competitive <br />pUblic bidding. said project to be completed within two (2) <br />yeats of the date of this contract in accordance with the <br />project plans and specifications and any necessary modification <br />thereof approved by the State. The State must approve. in <br />writing. all contracts before they can become effective. The <br />above-specified time may be extended by the State if such time <br />is insufficient because of acts of God or other acts or <br />circumstances beyond the control of the Contractor. <br /> <br />3. Require all Construction Firms and their <br />subcontractors to indemnify the State and the Contractor <br />against all liability and loss. and against all claims and <br />actions based upon or arising out of damage or injury, <br />including death. to persons or property caused by or sustained <br />in connection with the performance of any contract or by <br />conditions created thereby. or based upon any violation of any <br />statute, ordinance. or regulation. and the defense of any such <br />claims or actions. <br /> <br />4. Require all Construction Firms and their <br />subcontractors to maintain the following: <br /> <br />a. Workmenls compensation and employers I liabilit~ <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 />(1) For any injury to one person in any single <br />occurrence. the SUm of Five Hundred Thousand <br />Dollars ($500.000). <br /> <br />(2) For any injury to two or more persons in any <br />single occurrence. the sum of One Million Dollars <br />($l.OOO.OOO). <br /> <br />said liability insurance shall name the Contractor 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 />S. 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 1250~ linear feet <br />of reinforced concrete 48-inch diameter pipe. with all <br />appurtenances. bedding. and backfill. <br /> <br />The deed will be recorded by the Contractor in the <br />proper county or counties and all recording fees shall be paid <br />by the Contractor. The retainaqe shall not be paid to the <br />Contractor until a warranty deed has been executed, recorded. <br />and 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 Contractor agrees <br />to indemnify and hold the State harmless ftom any liability as <br />a result of the State1s interest in the project facilities and <br />any other property identified in paragraph A.5. above. The <br />Contractor shall maintain general liability insurance covering <br />the management. operation. and maintenance of the project until <br /> <br />Page A of I pages <br />