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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 days of <br />receipt. If Owner fails to make any payment due Engineer for services and expenses within 30 <br />days after receipt of Engineer's invoice, then the amounts due Engineer will be increased at the <br />rate of 1.0% per month (or the maximum rate of interest permitted by law, if less) from said <br />thirtieth day. In addition, Engineer may, after giving seven days written notice to Owner, suspend <br />services under this Agreement until Engineer has been paid in full all amounts due for services, <br />expenses, and other related charges. Owner waives any and all claims against Engineer for any <br />such suspension. Payments will be credited first to interest and then to principal. <br />3.01 Termination <br />A. The obligation to continue performance under this Agreement maybe terminated: <br />1. For cause, <br />a. By either party upon 30 days written notice in the event of substantial failure by the <br />other party to perform in accordance with the Agreement's terms through no fault of <br />the terminating party. 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 <br />perform services contrary to Engineer's responsibilities as a licensed professional; <br />or <br />2) upon seven days written notice if the Engineer's services for the Project are <br />delayed 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 <br />under Paragraph 3.01.AA.b. <br />c. Notwithstanding the foregoing, this Agreement will not terminate as a result of a <br />substantial failure under Paragraph 3.01.A.1.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 <br />to cure the 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 days after <br />the date of receipt of the notice. <br />EJCDC F,520 Short r orna of Agreement Between Owner and Engineer for Professional Services. <br />Copyriglit X2009 National Society of Professional Engioceis forEJCDC. All rights reserved. <br />Paoe 2 <br />