2021-03-18_PERMIT FILE - M2021014 (3)

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Vuuu JllylI CI IVCIupu ILJ. LlLL/JUl I UJ I/.7LJL/ PO:461001608 Routing#:21-HA4-ZG-00096 ' earlier terminated by the State. The Contractor understands and agrees that any contract work performed or costs incurred prior to the Effective Date shall not be compensated under the terms of this Contract. The parties agree that "time is of the essence" and that work shall begin under this Contract and that all work must be completed as set forth in the Construction CAP Project Special Provisions in Exhibit K. Section 6.Price—Payment Terms Subject to the Encumbrance Amount(as defined below),the State shall pay the Contractor,according to the requirements of the plans and specifications referenced herein and subject to the following paragraph,the amounts required for the completed work at the unit prices set forth in the CAP proposal,and such further amounts as may be required for extra work or materials, all according to the provisions and subject to the conditions set forth herein. Payment pursuant to this Contract will be made, from available funds that are currently encumbered for this Contract in a maximum amount not to exceed $5,581,479.66 (the "Project Commitment Amount") that includes the CAP (Total Direct Cost of Construction to execute the work pursuant to the plans,specifications,and estimates provided by CDOT for each Bid Package and a percentage not to exceed the CM/GC Management Fee Percentage of 7%as stated in Exhibit H,Contractor's CM/GC Fee Proposal Form). The liability of the State for payment shall be limited to such funds. Section 7.Funding The parties expressly recognize and agree that this Contract is subject to and contingent upon the continuing availability of federal and state funds for the purposes hereof. In the event that the Department does not receive such funds or any part thereof,the Department may immediately terminate this Contract without liability,including liability for termination costs. In the event of termination,the Contractor is entitled to payment, in accordance with this Contract, for work completed on the project as of the date of termination. Section 8.Payment and Performance Bond This Contract shall not take effect or be in force until the Contractor shall have furnished and delivered to the State a Payment and Performance Bond, attached hereto as Exhibits B and C, acceptable to the State, in a penal sum equal to the nearest integral$100.00 in excess of the Project Commitment Amount duly executed by a corporate surety,qualified and licensed to do business in Colorado and maintaining a general agent therein. Section 9.Legal Authority The Contractor warrants that it possesses the legal authority to enter into this Contract and that it has taken all actions required by its procedures,by-laws,and/or applicable law to exercise that authority,and to lawfully authorize its undersigned signatory to execute this Contract and to bind the Contractor to its terms. The person(s) executing this Contract on behalf of the Contractor warrant(s)that such person(s)have full authorization to execute this Contract. Section 10.Federal Requirements The Contractor agrees to adhere to the Federal Requirements in Exhibit D attached hereto. Section 11.Records A. MAINTENANCE. The Contractor(and any subcontractor)shall maintain a complete file of all books,records,accounts, and other written or computerized materials which pertain to the accounting and performance of work, the delivery of services, and the compliance with applicable requirements under this Contract, and shall maintain such records for a period of three(3)years after the date of termination of the Contract,or for such further period as may be necessary to resolve any matters which may be pending. B. ACCESS. The Contractor (and any subcontractor) shall permit the State, the FHWA, and their designated representatives, during normal business hours, to access all books, records, accounts, and other relevant material concerning the work performed or services provided under this Contract for the purpose of investigation, audit, and copying to ascertain compliance with,or to detect violation of,any applicable Federal and/or State law or regulation or Page 3 of 8