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AGREEMENT - The word Agreement means the written Agreem itered into by the State of Colorado <br />acting by and through the Principal Representative and the Contracur or the performance of the work and <br />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 m< _ al is part of such contract, but without contractual relationship to the Principle <br />Representative. <br />DRAWINGS - The word Drawings shall mean- all drawings in tr,e Special Conditions. <br />COLORADO LABOR - The term Cc xado Laborshall be defined as provided in Title 9-17-101, et seq. CRS <br />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 pricQ <br />and a performance bond for 100 percent of the original amount of the contract. The bonds are required by <br />State Law, Title 24-105, 202 -203, C.R.S. as amended. The bonds shall be submitted using the State forms. <br />A certified or cashiers check or bank money order may be accepted in lieu of the bonds. If a surety other <br />than a bond is used, the State will hold fifty percent (50 %) of the surety until the final settlement date and <br />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 at his own expense the insurance coverage listed below. <br />Proof of insurance must be submitted on certificates showing the following minimum coverage: <br />1. Standard Worker's Compens and Employer Liability, as required by State Statute <br />including occupational disease 'ering all employees at the wort site. <br />2. General Liability (Public Liability & Property Damage). <br />a. Combined single limit of $600,000 writtE-n 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 "'00; <br />3. A:.:omobile Liability (Minimum). The contractor must carry a minimum of $600,000 <br />combined s: Ile limit. <br />The Certiifice s of Insurance and insurance •;olicies required above shall be subject to the following <br />stipulations: <br />A. The State of Colorado MUST be named as an Additional Insured on the certificate of <br />insurance. An Additional Insured Endorsement amending such policy or policies is also <br />required. <br />B. The clause entitled "Other Insurance Provisions" contained in any policy including the State <br />of , olorado as an additional named insured shall not apply to the State of Colorado. <br />C. Th. - insurance companies issuing the policy or policies shall have no recourse against the <br />State of Colorado for payment of any premiums due or for any assessments under nay form <br />of any policy. <br />D. Any and all deductibles or self - insured retention contained in any insurance policy shall be <br />assumed by and at the sole risk of the Contractor. <br />E. If any of the said policies shall be or at any time become unsatisfactory to the State of <br />Color 3 Division of Mi- 3Is & Geology GENERAL BID SPECIFICATIONS <br />199E Page 2 <br />