Well, I just ordered a new HD. I did so because the number of bad sectors increased by 10 and I got another error.
Under the Assessment column for this category it says:
Read Error Rate
Frequency of errors while reading raw data from the disk. A non-zero value indicates a problem with either the disk surface or read/write heads.
Then under the Value column there is:
I think this means that it is basically dead. Thank you all and please correct me if I am wrong.