Specifications include, but are not limited to: 2.1.1.Contractor shall advise and assist the State in real property transactions, including, but not limited to, negotiating complex purchase and sale contracts for both the purchase and sale of real property, lease agreement negotiations including but not limited to, the formation of amendments to, and the termination of leases, all aspects of ownership or leasing or selling of condominium and common ownership community properties, and the availability of the State to enter into public-private partnerships in regards to property development (with planned and un-planned opportunities to sell and purchase buildings and property and enter into and terminate lease agreements and condo arrangements, and other private-public partnerships.). 2.1.2. The Contractor shall also conduct market research to establish property values, market state-owned property, assist with locating suitable commercial real estate to meet specific needs of department and agency mission (including finding potential locations); negotiating with potential buyers and/or sellers for all types of real estate transactions and circumstances. 2.1.3.All of the above must be performed in compliance with State of Vermont statue: http://legislature.vermont.gov/statutes/section/29/005/00166 2.1.4.Professional Liability Insurance: In addition to the insurance required in Attachment C to this Contract, before commencing work on this Contract and throughout the term of this Contract, Contractor agrees to procure and maintain Real Estate Errors & Omissions Liability insurance or Professional Liability insurance for any and all services performed under this Contract, with minimum coverage of $2,000,000 per claim, $2,000,000 aggregate on a claim made or per occurrence form. If claims made policy, then Contractor shall maintain policy for three (3) years post project completion.
