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Rates subject to change without notice 5 ) TERMINATION : The obligation to provide further services under this Agreement may be terminated by either party upon ten ( 10 ) days written notice in the event of substantial failure by the other party to perform in accordance with the terms herein . In the event of any termination due to a proven default by the Client , HJA will be paid for all services rendered to the date of termination , all expenses subject to reimbursement hereunder, and other reasonable expenses incurred by HJA as a result of such termination . 5 ) PAYMENTS . Payment hereunder to HJA will be made in U .S . Dollars within thirty (30 ) days of invoice date by either check or wired to such bank accounts as HJA shall specify . If any payment due to HJA under this Agreement is subject to withholding for income taxes , then Client will pay such taxes as required and will remit the Design Fees to HJA as specified in Section 3 herein . Outstanding amounts past due shall be assessed a monthly service charge of 2% over the current monthly LIBOR rate . In the event any payment certificate ( certified invoice ) or any portion thereof remains for more than sixty ( 60 ) days following the due date for payment within this period , HJA may notify Client to rectify the default within fifteen ( 15 ) days . If the Client does not affect payment , HJA shall have the right to stop the work and initiate collection and / or legal proceedings . 7) INSURANCE . During the term of this Agreement , HJA shall , at its own cost , maintain the following insurance coverage : Professional Liability Insurance in the amount of $ 1 , 000 , 000 each claim . Errors and Omissions Liability Insurance in the amount of $ 1 , 000 , 000 each occurrence . Comprehensive General Liability Insurance in the amount of $ 1 , 000 , 000 each occurrence . Comprehensive Automobile Liability Insurance in the amount of $ 500 , 000 combined single limit for bodily injury and property damage liability . Workmen ' s Compensation Insurance and Employer ' s Liability Insurance for all of its employees as required by Florida law . 8 ) ENTIRE AGREEMENT AND SEVERABILITY . This Agreement constitutes the entire agreement between the parties . The parties expressly warrant and represent that , in entering this Agreement , neither party is relying on any promise , agreement or statement , whether oral or written , that is not expressly and fully set forth in this Agreement . If any part of this Agreement is held to be invalid or unenforceable for any reason , the remaining terms and conditions of this Agreement will remain in full force . 9 ) MISCELLANEOUS .