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instructions, reports, data, and information in performing or furnishing services under this <br />Agreement. <br />ARTICLE 3 – SCHEDULE FOR RENDERING SERVICES <br />3.01Commencement <br />A.Engineer is authorized to begin rendering services as of the Effective Date. <br />3.02Time for Completion <br />A.Engineer shall complete its obligations within a reasonable time. Specific periods of time for <br />rendering services are set forth or specific dates by which services are to be completed are <br />provided in ExhibitA, and are hereby agreed to be reasonable. <br />B.If, through no fault of Engineer, such periods of time or dates are changed, or the orderly and <br />continuous progress of Engineer’s services is impaired, or Engineer’s services are delayed or <br />suspended, then the time for completion of Engineer’s services, and the rates and amounts of <br />Engineer’s compensation, shall be adjusted equitably. <br />C.If Owner authorizes changes in the scope, extent, or character of the Project, then the time for <br />completion of Engineer’s services, and the rates and amounts of Engineer’s compensation, shall <br />be adjusted equitably. <br />D.Owner shall make decisions and carry out its other responsibilities in a timely manner so as not to <br />delay the Engineer’s performance of its services. <br />E.If Engineer fails, through its own fault, to complete the performance required in this Agreement <br />within the time set forth, as duly adjusted, then Owner shall be entitled, as its sole remedy, to the <br />recovery of direct damages, if any, resulting from such failure. <br />ARTICLE 4 – INVOICES AND PAYMENTS <br />4.01Invoices <br />A.Preparation and Submittal of Invoices:Engineer shall prepare invoices in accordance with its <br />standard invoicing practices and the terms of ExhibitC. Engineer shall submit its invoices to <br />Owner on a monthly basis. Invoicesare due and payable within 35 days of receipt. <br />4.02Payments <br />A.Application to Interest and Principal:Payment will be credited first to any interest owed to <br />Engineer and then to principal. <br />B.Failure to Pay:If Owner fails to make any payment due Engineer for services and expenses <br />within 30 days after receipt of Engineer’s invoice, then: <br />1.amounts due Engineer will be increased at the rate of 1.0% per month (or the maximum <br />rate of interest permitted by law, if less) from said thirtieth day; and <br />Page 2 <br />EJCDC E-500 Agreement Between Owner and Engineer for Professional Services <br />Copyright©2008 National Society of Professional Engineers for EJCDC. All rights reserved. <br /> <br />