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SECTION 3 - AWARD AND EXECUTION OF CONTRACT

AWARD OF CONTRACT...............................................................................................3.1

TIME OF AWARD ..........................................................................................................3.1

CONSIDERATION OF BIDS ..........................................................................................3.1

PERFORMANCE AND PAYMENT BONDS...................................................................3.1

Performance Bond .................................................................................................3.2

Payment Bond........................................................................................................3.2

NOTIFICATION OF SURETY COMPANIES..................................................................3.2

RETURN OF BID GUARANTEES..................................................................................3.2

EXECUTION OF CONTRACT .......................................................................................3.2

FAILURE TO EXECUTE CONTRACT ...........................................................................3.3

INSURANCE..................................................................................................................3.3

General Liability......................................................................................................3.3

Automobile Liability ................................................................................................3.3

Workers' Compensation .........................................................................................3.4

Excess or Umbrella Liability ...................................................................................3.4

Contractor’s Equipment..................................................................................3.4

Railroad Protective Liability ............................................................................3.4

Builder’s Risk Insurance.................................................................................3.5

Environmental Liability Insurance...................................................................3.5

Other Provisions .............................................................................................3.6

Deductibles and Self-Insured Retention.........................................................3.7

Notification of Accident or Occurrence ...................................................................3.7