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Scope of Services and Fee Estimate <br />An Analysis of Residential Market Potential Page 7 <br />Downtown South Bend <br />City of South Bend, St. Joseph County, Indiana <br />January 7, 2013 <br />BILLING, PAYMENT AND TERMINATION <br />The total professional fee is invoiced and due as follows: <br />$9,000 after execution of this proposal. <br />$9,000 plus expenses, after the first visit to South Bend. <br />$12,000 after delivery of the draft. <br />$5,000 plus any additional expenses, after delivery of the complete study and presentation of <br />findings. <br />Additional meeting and /or charrette fees and expenses would be invoiced as incurred. <br />All payments are within 30 days of the billing date. Payments received after 30 days may be assessed <br />a one - and -a -half percent (1.5 %) per month late payment charge at the discretion of <br />Zimmerman /Volk Associates. <br />The client acknowledges that if Zimmerman /Volk Associates must resort to legal action to obtain <br />payment, then the costs of such action will be borne by the client and not by Zimmerman /Volk <br />Associates should Zimmerman /Volk Associates prevail in such action. <br />This contract can be terminated by either party with written notice. In the event the contract is <br />terminated by the client, Zimmerman /Volk Associates will cease all work upon receipt of written <br />notice. The amount due Zimmerman /Volk Associates shall be calculated according to the actual <br />work completed as a percentage of the total project. <br />ZIMMERMAN /YOLK ASSOCIATES, INC. <br />