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Colorado as to the form or substance, or if a company issuing any such policy shall be or <br />at any time become unsatisfactory to the Stat of Colorado, the Contractor shall promptly <br />obtain a new policy, submit the same to the Principle Representative for approval and <br />- thereafter submit a Certificate of insurance as specified above. <br />Upon failure of the Contractor to furnish, deliver and maintain such insurance as provided <br />above, the Contract at the sole discretion of the State of Colorado may be immediately <br />declared suspended, discontinued or terminated. Failure of the Contractor in obtaining <br />and/or maintaining any required insurance shall not relieve the contractor from any liability <br />under the Contract, nor shall the insurance requirements be construed to conflict with the <br />obligations of the Contractor conceming indemnification. <br />F. Prior to cancellation of or material change in any requisite policy, a minimum of ten (10) <br />days written notice shall be given to the Principle Representative. <br />G. All requisite insurance shall be obtained from financially responsible insurance companies; <br />licensed in the Stat of Colorado and acceptable to the State. <br />7. Receipt, review or acceptance by the State of all Insurance Policies, Certificates of <br />Insurance and Bonds required under this Contract shall not be construed as a waiver or <br />relieve the Contractor from hits obligations to meet the insurance and bond requirements <br />of the Contract. <br />Bidders are advised to consult with their insurance carrier concerning these requirements. Submit <br />a bid only if you are prepared to complete these requirements. <br />Article 4. THREE -WAY AGREEMENT <br />If a three -way Agreement for Reclamation Activities is required, the Contractor shall enter into a three -way <br />agreement between the Contractor, the State of Colorado and the private landowner (a sample is included <br />in Appendix 1), and maintain for the duration of the work, in addition to that specified above, additional <br />insurance coverage of: <br />a. Comprehensive General Liability Insurance, which includes operations & premises <br />coverage, products /completed operation coverage, all on an occurrence basis, all with <br />combined single limit of liability of $1,000,000; <br />b. Statutory Worker's Compensation and Occupational Disease Disability Insurance; <br />c. Employers' Liability Insurance with limits of $500,000 each occurrence; and <br />d. Automobile Insurance with a combined single limit of liability of $1,000,000. <br />and fumish evidence of the insurance coverage as prescribed the three -way agreement. <br />If a three -way Agreement for Reclamation Activities is required, the Contractor will be required to fumish lien <br />waivers to the private landowner. See Number 5 of the sample three -way Agreement for Reclamation <br />Activities. The landowner's address will be fumished to the Contractor with the Notice to Proceed. <br />Article 5. PROJECT SCHEDULE <br />The successful bidder shall, prior to the execution of an Agreement, fumish a plan for construction of the <br />work showing (1) the date(s) he expects to move various pieces of equipment onto the work site, and (2) <br />the dates and period(s) he proposes to perform each phase of the project work. <br />Colorado Division of Minerals & Geology GENERAL BID SPECIFICATIONS <br />1996 Page 3 <br />