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PO # 461000922 <br />Routing # 17-HA2-ZG-00098 <br />7. The Contractor's Proposal, Exhibit A <br />8. The Contract Exhibits and Attachments in descending order <br />Section I Performance Period <br />The Contract shabe effective u approval by the State Controller, or designee, or on -4 A <br />/ — whichever is later ("Effective Date"). The Contract shall terminate upon the <br />date of final payment for the work or final audit of the work, whichever is pertinent to this Contract, finless earlier <br />terminated by the State. The Contractor understands and agrees that any contract work performed or costs incurred <br />prior to the Effective Date shall not be compensated under the terms of this Contract. <br />The parties agree that "time is of the essence" and that work shall begin under this Contract and that all work- must be <br />completed as set forth in the project special provisions. <br />Section 4. Price – Payment Terms <br />The State shall pay the Contractor, according to the requirements of the specifications and subject to the following <br />paragraph, the amounts required for the completed work at the unit prices set forth in the Contractors Proposal, and <br />such further amounts as may be required for extra work or materials, all according to the provisions and subject to the <br />conditions as set forth in the specifications above referred to. <br />Payment pursuant to this Contract will be made, as described in the specifications, from available funds that are <br />currently encumbered for this Contract in a maximum amount not to exceed 55,144,400.00. The liability of the State <br />for payment shall be limited to such funds. <br />Section 3. Pavment and Performance Bond <br />This Contract shall not take effect or be in force until the Contractor shall have humished and delivered to the State a <br />Pavment and Performance Bond, attached hereto as Exhibits B and C, acceptable to the State, in a penal sum equal to <br />the nearest integral 5100.0o in excess of the Project Commitment Amount duly executed by a corporate surety, <br />qualified and licensed to do business in C olorado 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 6. 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, andlor 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 7. lncarporated 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, al] 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 S. Records <br />A. MATNTENANCE, The Contractor (and any subcontractor) shall maintaut a complete file of all books, records, <br />accounts, and other written or computerized materia] -9 which pertain to the accounting and performance of work, <br />the deliver)- 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 />t the <br />e, the FHWA, and their <br />ated <br />B. ACCThe Contractor any <br />hours, o a� cess all b000r) shall ks, records,tac accounts, and other relevant material <br />representatives, dieting normal <br />Page 2 of 31 <br />Document Builder Generated <br />Rev- 121090-016 33 <br />