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C. The Insurance shall include provisions preventing cancellation or non-renewal without at <br /> least forty-five (45) days prior notice to the State by certified mail. <br /> D. The contractor will require all insurance policies in any way related to the contract and <br /> secured and maintained by the contractor to include clauses stating that each carrier will <br /> waive all rights of recovery,under subrogation or otherwise, against the State of Colorado, <br /> its agencies, institutions, organizations, officers, agents, employees and volunteers. <br /> E. All policies evidencing the insurance coverages required hereunder shall be issued by <br /> insurance companies satisfactory to the State. <br /> F. The contractor shall provide certificates showing insurance coverage required by this <br /> contract to the State within ten days of the notice of award. No later than 15 days prior to <br /> the expiration date of any such coverage, the contractor shall deliver the State certificates <br /> of insurance evidencing renewals thereof. At any time during the term of this contract,the <br /> State may request in writing, and the contractor shall thereupon within 10 days supply to <br /> the State, evidence satisfactory to the State of compliance with the provisions of this <br /> section. <br /> Bidders are advised to consult with their insurance carrier concerning these requirements. <br /> Submit a bid only if you are prepared to complete these requirements. <br /> RETAINAGE <br /> If the Documented Quote bid amount is between $50,000.00 and $149,999.00, ten percent(10%) <br /> retainage will be withheld until the project has been satisfactorily completed and advertised. If the <br /> bid amount is $150,000.00 or over, five percent (5%) retainage will be withheld until the project <br /> has been satisfactorily completed and advertised. <br /> LIQUIDATED DAMAGES <br /> The liquidated damages for this project will be $400.00 per day. Please see General Bid <br /> Specifications 2009, Article 39. <br /> NOTICE OF CONTRACTOR'S SETTLEMENT <br /> When the project is completed, the contractor's settlement will be advertised electronically on <br /> Colorado Vendor Self Service (ColoradoVSS). <br /> PROJECT FUNDING <br /> This project is funded through monies made available to the State of Colorado through revocation <br /> of bond monies retained by the Division of Reclamation,Mining and Safety for <br /> reclamation of this previously permitted mining operation. <br /> This project is funded by Federal grant money made available to the State of Colorado through the <br /> U.S. Department of Agriculture,US Forest Service through CFDA 10.693. <br /> Page 7 of 17 <br />