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<br />8/23/89 <br />If the successful bidder, upon acceptance of his bid by the OWNER, fails to <br />execute such further contractual documents, and give such bond{s) (including <br />any necessary coinsurance or reinsurance agreements) as may be required within <br />ten (10) days after receipt of the Notice of Award, the contract may be <br />terminated for default. In such event the CONTRACTOR shall be liable for any <br />cost of procuring the work which exceeds the amount of his bid, and the bid <br />guarantee shall be available toward offsetting such difference. <br />5. INSURANCE AND TNREE-NAY AGREEMENTS <br />The CONTRACTOR shall procure, at his or her own expense, and maintain for <br />duration of the work, the following insurance coverages; the state shall be <br />issued certificates as an "Additional Insured": <br />A. Standard Workman's Compensation Employers' Liability, including <br />occupational disease, covering all employees engaged in performance of <br />the work at the site, in the amount required by State statutes. <br />B. Comprehensive General Public Liability and Property Damage Insurance with <br />the following limits: <br />Bodily Injury <br />Property Damage <br />5400,000 Each Occurrence <br />5400,000 Each Occurrence <br />C. Comprehensive Auto liability and Property Damage Insurance with the <br />fallowing limits: <br />Bodily Injury <br />Property Damage <br />5150,000 Each Person <br />5400,000 Each Occurrence <br />5400,000 Each Occurrence <br />If workman's compensation insurance is carried by the State Compensation <br />Insurance fund, evidence of such coverage shall be submitted on its <br />Certificate of Insurance Form; if by private carrier, on Certificate of <br />Insurance, State Form SC-6.222, Part A. available from the Division of Central <br />Services/Central Stores. <br />Evidence of Bodily Injury and Property Damage coverage may be submitted on <br />State Form SC-6.222, Part B. <br />If a three-way "Agreement for Reclamation Activities" is required, the <br />CONIRACTOR shall enter into a three-way agreement between the CONTRACTOR, the <br />State of Colorado and the private landowner (a sample is included in <br />Appendix 1), and maintain for the duration of the work, in addition to that <br />specified above, additional insurance coverages of: <br />A. Employer's Liability Insurance with limits of 5500,000 each occurrence. <br />B. Comprehensive General Liability Insurance, combined single limit of <br />1 iability of S1 ,000,000. <br />C. Automobile Insurance with a combined single limit of liability of <br />51 ,000,000. <br />and furnish evidence of the insurance coverages as prescribed by the said <br />three-way agreenent. <br />MLRD-3- <br />