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ARTICLE 12 TERMINATION OF THE AGREEMENT § 12 . 1 TERMINATION BY THE OWNER § 12 . 1 . 1 This Part 2 Agreement may be terminated by the Owner upon 14 days ' written notice to the Design/Builder in the event that the Project is abandoned . If such termination occurs , the Owner shall pay the Design/ Builder for Work completed and for proven loss sustained upon materials , equipment , tools , and construction equipment and machinery , including reasonable profit and applicable damages . § 12 . 1 . 2 If the Design/Builder defaults or persistently fails or neglects to carry out the Work in accordance with the Contract Documents or fails to perform the provisions of this Part 2 Agreement , the Owner may give written notice that the Owner intends to terminate this Part 2 Agreement . If the Design/ Builder fails to correct the defaults , failure or neglect within seven ( 7 ) days after being given notice , the Owner may then give a second written notice and , after an additional seven ( 7 ) days , the Owner may without prejudice to any other remedy terminate the employment of the Design/ Builder and take possession of the site and of all materials , equipment , tools and construction equipment and machinery thereon owned by the Design /Builder and finish the Work by whatever method the Owner may deem expedient . If the unpaid balance of the Contract Sum exceeds the expense of finishing the Work and all damages incurred by the Owner, such excess shall be paid to the Design/ Builder. If the expense of completing the Work and all damages incurred by the Owner exceeds the unpaid balance , the Design/Builder shall pay the difference to the Owner. This obligation for payment shall survive termination of this Part 2 Agreement . § 12 . 2 TERMINATION BY THE DESIGN/ BUILDER § 12 . 2 . 1 If the Owner fails to make payment when due in accordance with the Florida Prompt payment Act , FS § 218 . 70 et seg . , the Design/Builder may give written notice of the Design/ Builder' s intention to terminate this Part 2 Agreement . If the Design/ Builder fails to receive payment in accordance with the Local Government Prompt Payment Act FSS 218 . 70 et seq . Owner, the Design/ Builder may give a second written notice and , seven ( 7 ) days after receipt of such second written notice by the Owner, may terminate this Part 2 Agreement and recover from the Owner payment for Work executed and for proven losses sustained upon materials , equipment , tools , and construction equipment and machinery , including reasonable profit and applicable damages . ARTICLE 13 BASIS OF COMPENSATION The Owner shall compensate the Design/Builder in accordance with Article 5 , Payments , and the other provisions of this Part 2 Agreement as described below . § 13 . 1 COMPENSATION § 1381 . 1 For the Design/ Builder' s performance of the Work , as described in Section 3 . 2 and including any other services listed in Article 14 as part of Basic Services , the Owner shall pay the Design/ Builder in current funds the Contract Sum not to exceed as follows : Two million four hundred ninety two thousand dollarrs ( $2492 , 000 _00) 21