All contracts made by the Department of Transportation with the contractor shall provide the following:
1. A requirement that the contractor obtain liability insurance in an amount determined by the Department which shall jointly insure the State of Oklahoma and the contractor against all liability for claims for damages occurring wholly or in part because of the contract;
2. Standards for the size, design, erection and maintenance of service information signs and the advertising logos thereon, which shall be in accordance with the National Manual on Uniform Traffic Control Devices; and 3. A requirement that the Department of Transportation shall receive not less than ten percent (10%) of the contract price between the contractor and the advertiser.