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2.01 Payment Procedures <br />A. Invoices: Engineer shall prepare invoices in accordance with its standard invoicing practices <br />and submit the invoices to Owner on a monthly basis. Invoices are due and payable within <br />30 35 days of receipt. If Ovffier fails to make a" pajqnei4 due Engineer fbF sefviees an <br />vx_�.J_ b-P i:fiereased at the rate of i4iki 30 days after receipt of Engineer's invoiee, then the ame;unts due Engine per- month (er- the ffW*inWM fate of in erest peffnitte <br />by law, if . In addition, Engineer may, after giving seven days <br />written notice to Owner, suspend services under this Agreement until Engineer has been <br />paid in full all amounts due for services, expenses, and other related charges. Owner waives <br />any and all non -disputed claims against Engineer for any such suspension. <br />be credited fifst to interest ,,,,d 4w to prk*a4. <br />3.01 Termination <br />A. The obligation to continue performance under this Agreement may be terminated: <br />For cause, <br />a. By either parry upon 30 days written notice in the event of substantial failure <br />by the other party to perform in accordance with the Agreement's terms <br />through no fault of the terminating party. Failure to pay Engineer for its <br />services is a substantial failure to perform and a basis for termination. <br />b. By Engineer: <br />1) upon seven days written notice if Owner demands that Engineer <br />furnish or perform services contrary to Engineer's responsibilities as <br />a licensed professional; or <br />2) upon seven days written notice if the Engineer's services for the <br />Project are delayed for more than 90 days for reasons beyond <br />Engineer's control. <br />2. Engineer shall have no liability to Owner on account of a termination by Engineer <br />under Paragraph 3.01.A. Lb. <br />a. Notwithstanding the foregoing, this Agreement will not terminate as a result <br />of a substantial failure under Paragraph 3.01.A.1.a if the party receiving such <br />notice begins, within seven days of receipt of such notice, to correct its <br />substantial failure to perform and proceeds diligently to cure such failure <br />within no more than 30 days of receipt of notice; provided, however, that if <br />and to the extent such substantial failure cannot be reasonably cured within <br />such 30 day period, and if such party has diligently attempted to cure the <br />same and thereafter continues diligently to cure the same, then the cure <br />period provided for herein shall extend up to, but in no case more than, 60 <br />days after the date of receipt of the notice. <br />3. For convenience, by Owner effective upon Engineer's receipt of written notice from Owner. <br />Page 2 <br />EJCDC E-500 Agreement Between Owner and Engineer for Professional Services <br />Copyright © 2008 National Society of Professional Engineers for EdCDC. All rights reserved. <br />