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DocuSign Envelope ID: 091B214E-43C3-46BE-858E-7D244AE75A25 <br /> PO#:461001440 <br /> Routing#:20-HA5-ZG-03104 <br /> to Exhibit G(Sample Option Letter) under this Contract, based on the Contractor's updated and <br /> approved Payment Schedule. The Payment Schedule that CDOT has approved as of April 1 is what will <br /> be used for the current fiscal year encumbrance and for future fiscal years' encumbrances only if a new <br /> Payment Schedule update is not submitted by April 1.A Payment Schedule update shall not be required <br /> if construction will conclude in the subsequent fiscal year,as CDOT shall automatically encumber the <br /> balance of the Contract Maximum amount for the project. The Option Letter shall not be deemed valid <br /> until the State Controller or his designee has approved it.If exercised,the provisions of the Option Letter <br /> shall become part of and be incorporated into this Contract. <br /> iv. The Contractor shall not perform Work that creates a financial obligation for the State exceeding the <br /> amount of the Encumbrance Amount.During a current fiscal year, if Contractor anticipates exceeding <br /> the Encumbrance Amount that was contained in the Payment Schedule or Payment Schedule Update that <br /> was approved on or before April 1,Contractor shall notify the Resident Engineer in writing and comply <br /> with CDOT Special Provision 108.04. <br /> 7. PAYMENT AND PERFORMANCE BONDS <br /> This contract shall not take effect or be in force until the contractor shall have furnished and delivered to the state <br /> a payment and performance bond, attached hereto as Exhibits B and C, acceptable to the state, in a penal sum <br /> equal to the nearest integral$100.00 in excess of the project commitment amount duly executed by a corporate <br /> surety, qualified and licensed to do business in Colorado and maintaining a general agent therein. The project <br /> commitment amount is the total bid per"schedule" hereto attached plus the estimated amount of force account <br /> items designated for bonding in the project special provisions. <br /> 8. REPORTING-NOTIFICATION <br /> A. Litigation Reporting <br /> If Contractor is served with a pleading or other document in connection with an action before a court or other <br /> administrative decision making body, and such pleading or document relates to this Contract or may affect <br /> Contractor's ability to perform its obligations under this Contract,Contractor shall,within 10 days after being <br /> served,notify the State of such action and deliver copies of such pleading or document to the State's Principal <br /> Representative identified on the Cover Page of this Contract. <br /> 9. CONTRACTOR RECORDS <br /> A. Maintenance <br /> Contractor shall maintain a file of all documents,records,communications,notes and other materials relating <br /> to the Work (the "Contractor Records"). Contractor Records shall include all documents, records, <br /> communications, notes and other materials maintained by Contractor that relate to any Work performed by <br /> Subcontractors, and Contractor shall maintain all records related to the Work performed by Subcontractors <br /> required to ensure proper performance of that Work.Contractor shall maintain Contractor Records until the <br /> last to occur of. (i)the date 3 years after the date this Contract expires or is terminated, (ii) final payment <br /> under this Contract is made,(iii)the resolution of any pending Contract matters,(iv)if an audit is occurring, <br /> or Contractor has received notice that an audit is pending,the date such audit is completed and its findings <br /> have been resolved(the"Record Retention Period")or the period for which is identified for record retention <br /> in the Standard Specifications. <br /> B. Inspection <br /> Contractor shall permit the State and the FHWA to audit, inspect, examine, excerpt, copy and transcribe <br /> Contractor Records during the Record Retention Period.Contractor shall make Contractor Records available <br /> during normal business hours at Contractor's office or place of business,or at other mutually agreed upon <br /> times or locations,upon no fewer than 2 Business Days' notice from the State,unless the State determines <br /> that a shorter period of notice,or no notice,is necessary to protect the interests of the State. <br /> C. Monitoring <br /> The State,in its discretion,may monitor Contractor's performance of its obligations under this Contract using <br /> procedures as determined by the State. The State shall monitor Contractor's performance in a manner that <br /> does not unduly interfere with Contractor's performance of the Work. <br /> Document Builder Generated Page 7 of 53 Version 0819 <br />