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March 1, 1995 <br />AGREEMENT - The word Agreement means the written Agreement entered into by the State of <br />Colorado acting by and through the Principal Representative and the Contractor for the performance <br />of the work and payment for the work. <br />WORK - The word Work means material and/or labor <br />SUBCONTRACTOR - A Subcontractor is a sole proprietorship, partnership or corporation which has a <br />contract with the Contractor for the performance of labor at the site of the work regardless of whether <br />supplying of material is part of such contrapt, but without contractual relationship to the Principle <br />Representative. <br />DRAWINGS - The word Drawings shall mean all drawings in the Special Conditions. <br />COLORADO LABOR - The term Colorado Labor shall be defined as provided in Title 8-17-101, et seq. <br />CRS 1973, as amended. <br />Article 2. PERFORMANCE AND PAYMENT BONDS <br />The Contractor shall furnish a labor and material payment bond for 100 percent of the original contract <br />price and a performance bond for 100 percent of the original amount of the contract. The bonds are <br />required by State Law, Title 24-105, 202-203, C.R.S. as amended. The bonds shall be submitted <br />using the State forms. A certified or cashiers check or bank money order may be accepted in lieu of <br />the bonds. If a surety other than a bond is used, the State will hold fifty percent (50%) of the surety <br />until the final settlement date and fifty percent (50%) for six (6) months after the final settlement date. <br />Article 3. INSURANCE <br />The Contractor is required to procure and maintain the insurance coverage listed below. Proof of <br />insurance must be submitted on certificates showing the following minimum coverage: <br />1. Standard Worker's Compensation and Employer Liability, as required by State Statute <br />including occupational disease, covering all employees at the work site. <br />2. General Liability (Public Liability & Property Damage) (Minimum): <br />a. Combined single limit of $600,000 written on an occurrence basis; <br />b. Any aggregate will not be less than $1 million; <br />C. The contractor must purchase additional insurance if claims reduce the annual <br />aggregate below $600,000; <br />d. The State of Colorado must be named as additional insured on each <br />comprehensive general liability policy; <br />e. Certificates of insurance must be provided to the State within 10 working days <br />after receipt of Award; and, <br />f. Insurance shall include provisions providing notification to the State 10 days <br />prior to cancellation of the coverage. <br />3. Automobile Liability (Minimum). The contractor must carry a minimum of $600,000 <br />combined single limit. <br />The State of Colorado MUST be named as an Additional Insured on the certificate of insurance. An <br />Additional Insured Endorsement amending such policy or policies must be presented to the DMG prior <br />to issuance of the Notice to Proceed. Bidders are advised to consult with their insurance carrier <br />concerning these requirements. Submit a bid only if you are prepared to complete these requirements. <br />DMG-2