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Article 11: TERMINATION OF CONTRACT A. The occurrence of any of the following shall constitute a default by VENDOR and shall provide the OWNER with a right to terminate this Contract in accordance with this Article, in addition to pursuing any other remedies which the OWNER may have under this Contract or under law: (1) if in the OWNER's opinion VENDOR is improperly performing work or violating any provision(s) of the Contract Documents; (2) if VENDOR neglects or refuses to correct defective work or replace defective parts or equipment, as directed by the Owner pursuant to an inspection; (3) if in the OWNER's opinion VENDOR's work is being unnecessarily delayed and will not be finished within the prescribed time; (4) if VENDOR assigns this Contract or any money accruing thereon or approved thereon; or (5) if VENDOR abandons the work, is adjudged bankrupt, or if he makes a general assignment for the benefit of his creditors, or if a trustee or receiver is appointed for VENDOR or for any of his property. B. OWNER shall, before terminating the Contract for any of the foregoing reasons, notify CONTRACTOR in writing of the grounds for termination and provide VENDOR with ten (10) calendar days to cure the default to the reasonable satisfaction of the OWNER. C. If the VENDOR fails to correct or cure within the time provided in the preceding Sub -Article B, OWNER may terminate this Contract by notifying VENDOR in writing. Upon receiving such notification, VENDOR shall immediately cease all work hereunder. D. The VENDOR shall be liable for: (1) any new cost incurred by the OWNER in soliciting bids or proposals for and letting a new contract; and (2) the difference between the cost of completing the new contract and the cost of completing this Contract; (3) any court costs and attorney's fees associated with any lawsuit undertaken by OWNER to enforce its rights herein. E. TERMINATION FOR CONVENIENCE: OWNER may at any time and for any reason terminate VENDOR's services and work for OWNER's convenience. Upon receipt of notice of such termination VENDOR shall, unless the notice directs otherwise, immediately discontinue the work and immediately cease ordering of any materials, labor, equipment, facilities, or supplies in connection with the performance of this Contract. Upon such termination Contractor shall be entitled to payment only as follows: (1) the actual cost of the work completed in conformity with this Contract and the specifications; plus, (2) such other costs actually incurred by VENDOR as are permitted by the prime contract and approved by the OWNER. 8 P110