2007-128 - Laserfiche WebLink

Home Browse Search

ARTICLE 8 TERMINATION OF THE AGREEMENT § 8. 1 This Part 1 Agreement may be terminated by either party upon seven (7 ) days' written notice should the other party fail to perform substantially in accordance with its terms through no fault of the party initiating the termination . § 8.2 This Part 1 Agreement may be terminated by the Owner without cause upon at least seven (7) days' written notice to the Design/Builder. § 8.3 In the event of termination not the fault of the Design/Builder, the Design/Builder shall be compensated for services performed to the termination date , together with Reimbursable Expenses then due and Termination Expenses. Termination Expenses are expenses directly attributable to termination, including a reasonable amount for overhead and profit, for which the Design/Builder is not otherwise compensated under this Part 1 Agreement. ARTICLE 9 BASIS OF COMPENSATION The Owner shall compensate the Design/Builder in accordance with Article 5, Payments, and the other provisions of this Part 1 Agreement as described below. § 9. 1 COMPENSATION FOR BASIC SERVICES § 9. 1 . 1 FOR BASIC SERVICES, compensation shall be as follows : Fifty One Thousand Six Hundred Ninety Nine Dollars and XX/100 $51 ,699. 00 See Attachment "B": for Detail of Costs § 9. 1 .2 AN INITIAL PAYMENT of Twelve Thousand Nine Hundred Twenty Four Dollars and 75/100 ($ 12,924. 75 ) shall be made upon execution of this Part 1 Agreement and credited to the Owner's account as follows: § 9. 1 .3 SUBSEQUENT PAYMENTS shall be as follows: $12, 924.75 at the completion of the Schematic Design of building $12, 924.75 at the 50% completion of the Preliminary Design Documents $12, 924.75 at the completion of the Preliminary Design Documents, statement of the proposed contract sum and proposed project schedule 10