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cited in Section V.A., V.B., and V.C. above, this claim is not barred by governmental immunity. <br /> DMG then argues that the duty of good faith and fair dealing is a duty that exists in <br /> contracts in Colorado only if those contracts are governed by the Uniform Commercial Code, citing <br /> Amoco Oil Co. v. Ervin, 908 P.2d 493 (Colo. 1995). However. the duty of good faith and fair <br /> dealing applies to all contracts in the state of Colorado. Colorado has adopted Restatement <br /> (Second) Contracts, Section 205 which states, "Every contract imposes upon each party a duty of <br /> good faith and fair dealing in its performance and its enforcement." This is not limited to contracts <br /> governed by the Uniform Commercial Code. This Restatement section has been cited with <br /> approval in Colorado in Bayou Land Co. v. Talley, 924 P.2d 136, 155, n. 28 (Colo. 1996) and Wells <br /> Fargo Realty Advisors Flmding, Inc. v. Uioli, Inc., 872 P.2d 1359, 1362 (Colo. App. 1994). Thus, <br /> the implied duty of good faith and fair dealing exists in the Liquidation Plan which forms a contract <br /> between the parties. <br /> Next, DMG erroneously cites T"aughan v. McMinn, 945 P.2d 404 (Colo. 1997); Travelers <br /> Ins. Co. v. Savio, 706 P.2d 1258 (Colo. 1985) and Farmers Group Inc. v. Trimble, 691 P.2d 1138 <br /> (Colo. 1984) for the proposition that the breach of duty of good faith and fair dealing inherent in <br /> every contract in Colorado is actually a tort rather than a contract claim. Those cases stand for the <br /> proposition that Colorado recognizes a tort claim for bad faith breach of contract against insurance <br /> companies. This is a different claim than the breach of duty of good faith and fair dealing which is <br /> a contract claim. Different considerations are involved. For example, in Farmers Group, the Court <br /> explained that a quasi fiduciary relationship exists between insurer and insured with the insurance <br /> company standing in the position similar to that of a fiduciary. 691 P.2d at 1141. Because of those <br /> considerations, punitive damages are available under that type of claim. In contrast, Colorado law <br /> holds that a garden variety breach of the duty of Rood faith and fair dealing, outside of the insurance <br /> 14 <br />