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2.01 Payment Procedures <br />A. Invoices: Engineer shall prepare invoices in accordance with its standard invoicing practices and <br />submit the invoices to Owner on a monthly basis. Invoices are due and payable within 30 35 days of <br />receipt. if Owner- fails te ffiake any pa�qEent diie Engineer ftir sefN,iees and e.Epenses withiti 30 days <br />Aer reeeipt of Engineer's invoice, then the affie��s dee Engineer will be increased at the rate o per ffieftffi (er- the mfflEimum fate of interest permitted by law, if less) from said flairtieth-day, <br />In addition, Engineer may, after giving seven days written notice to Owner, suspend services under <br />this Agreement until Engineer has been paid in full all amounts due for services, expenses, and <br />other related charges. Owner waives any and all non -disputed claims against Engineer for any such <br />suspension. Payments will be , edit d fifst !a interest and the to prineipaL <br />3.01 Termination <br />A. The obligation to continue performance under this Agreement may be terminated: <br />1. For cause, <br />a. By either parry upon 30 days written notice in the event of substantial failure by the <br />other parry to perform in accordance with the Agreement's terms through no fault of the <br />terminating parry. Failure to pay Engineer for its services is a substantial failure to <br />perform and a basis for termination. <br />b. By Engineer: <br />1) upon seven days written notice if Owner demands that Engineer furnish or perform <br />services contrary to Engineer's responsibilities as a licensed professional; or <br />2) upon seven days written notice if the Engineer's services for the Project are delayed <br />for more than 90 days for reasons beyond Engineer's control. <br />Engineer shall have no liability to Owner on account of a termination by Engineer under <br />Paragraph 3.0l.A.l.b. <br />c. Notwithstanding the foregoing, this Agreement will not terminate as a result of a <br />substantial failure under Paragraph 3.01.A.l.a if the party receiving such notice begins, <br />within seven days of receipt of such notice, to correct its substantial failure to perform <br />and proceeds diligently to cure such failure within no more than 30 days of receipt of <br />notice; provided, however, that if and to the extent such substantial failure cannot be <br />reasonably cured within such 30 day period, and if such party has diligently attempted to <br />cure the same and thereafter continues diligently to cure the same, then the cure period <br />provided for herein shall extend up to, but in no case more than, 60 days after the date of <br />receipt of the notice. <br />2. For convenience, by Owner effective upon Engineer's receipt of written notice from Owner. <br />B. The terminating party under Paragraph 3.01.A may set the effective date of termination at a time up <br />to 30 days later than otherwise provided to allow Engineer to complete tasks whose value would <br />otherwise be lost, to prepare notes as to the status of completed and uncompleted tasks, and to <br />assemble Project materials in orderly files. <br />Page 2 <br />EJCDC E-500 Agreement Behveen Owner and Engineer for Professional services <br />Convrigbt © 2008 National Societv of Professional Engineers for EJCDC. All rights reserved. 201401351 <br />