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The Contractor shall not perform Work that creates a financial obligation for the State exceeding the amount of the <br />Encumbrance Amount. During a current fiscal year, if Contractor anticipates exceeding the Encumbrance Amount <br />that was contained in the Payment Schedule or Payment Schedule Update that was approved on or before April 1, <br />Contractor shall notify the Resident Engineer in writing and comply with CDOT Special Provision 108.04. <br />Section 6. Payment and Performance Bond <br />This Contract shall not take effect or be in force until the Contractor shall have furnished and delivered to the State a <br />Payment and Performance Bond, attached hereto as Exhibits B and C, acceptable to the State, in a penal sum equal to <br />the nearest integral $100.00 in excess of the Project Commitment Amount duly executed by a corporate surety, <br />qualified and licensed to do business in Colorado and maintaining a general agent therein. The Project Commitment <br />Amount is the total bid per "Schedule" hereto attached plus the estimated amount of force account items designated <br />for bonding in the Project Special Provisions. <br />Section 7. Legal Authority <br />The Contractor warrants that it possesses the legal authority to enter into this Contract and that it has taken all actions <br />required by its procedures, by -laws, and/or applicable law to exercise that authority, and to lawfully authorize its <br />undersigned signatory to execute this Contract and to bind the Contractor to its terms. The person(s) executing this <br />Contract on behalf of the Contractor warrant(s) that such person(s) have full authorization to execute this Contract. <br />Section 8. Incorporated Terms and Conditions <br />The Contractor understands and agrees that the Contractor's Proposal, the Plans, the Standard Specifications for Road <br />and Bridge Construction, and any Special Provisions for this Project, all being applicable to the project are each and <br />all incorporated into and made a part of the terms and conditions of this Contract. These documents are on file in the <br />office of the Department of Transportation at Denver, Colorado, together with such alterations and modifications as <br />may be made in accordance with the provisions of said Plans and Specifications. The Contractor further agrees to <br />adhere to the Federal Requirements in Exhibit D attached hereto. <br />Section 9. Records <br />A. MAINTENANCE. The Contractor (and any subcontractor) shall maintain a complete file of all books, records, <br />accounts, and other written or computerized materials which pertain to the accounting and performance of work, <br />the delivery of services, and the compliance with applicable requirements under this Contract, and shall maintain <br />such records for a period of three (3) years after the date of termination of the Contract, or for such further period <br />as may be necessary to resolve any matters which may be pending. <br />B. ACCESS, The Contractor (and any subcontractor) shall permit the State, the FHWA, and their designated <br />representatives, during normal business hours, to access all books, records, accounts, and other relevant material <br />concerning the work performed or services provided under this Contract for the purpose of investigation, audit, <br />and copying to ascertain compliance with, or to detect violation of, any applicable Federal and/or State law or <br />regulation or with the terms of the Contract, or to evaluate performance under the Contract. All records or <br />information obtained in this manner shall be used only for the purpose described herein, except as otherwise <br />authorized by law. <br />C. SUBCONTRACTS. For the benefit of the State, the Contractor shall include the language of this section in all <br />Subcontracts, in order to require the subcontractor(s) to comply with the record maintenance and access conditions <br />described above. <br />Section 10. Remedies, Termination Provisions, insurance <br />The Standard Specifications, which are incorporated herein by reference, contain provisions for remedies, termination <br />and insurance. The Contractor agrees to comply with such provisions. <br />Section 11. Funding <br />The parties expressly recognize and agree that this Contract is subject to and contingent upon the continuing <br />availability of federal and state fiords for the purposes hereof. In the event that the Department does not receive such <br />funds or any part thereof, the Department may immediately terminate this Contract without liability, including liability <br />