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The City and Owner must approve the payment request after work has been satisfactorily <br /> completed.It is the responsibility of the Contractor to schedule the review of the work with <br /> the Owner and the City. <br /> The Contractor will be penalized$50.00 per day after the construction completion date has <br /> expired if work is not complete unless approved change orders for time extensions are <br /> signed by all parties. The penalty will be subtracted from the final pay amount due to the <br /> Contractor. <br /> 13. TERMINATION OF AGREEMENT;FINISHING PROJECT <br /> a. The City,upon written notice to the Contractor, may terminate this Agreement prior to <br /> the completion of the Project and without prejudice to any other remedy that the City <br /> may have, upon the violation of the terms of this Agreement by the Contractor or upon <br /> the bankruptcy or insolvency of the Contractor. The notice shall be served personally <br /> or by certified mail, return receipt requested and shall state: <br /> i. The reasons for the termination; <br /> ii. That the Contractor has seven (7)days from the receipt of the notice to cure <br /> the problems stated in the notice; and, <br /> That the failure to cure such problems will cause the Agreement to be ter- <br /> minated on the seventh(7th) day from receipt of the notice,unless the <br /> time for cure is extended in writing,by the Owner or the City, at their sole <br /> discretion. <br /> b. The Contractor may,upon written notice to the City,terminate this Agreement prior <br /> to the completion of the Project upon a violation of this Agreement by the City. The <br /> notice shall be served personally or by certified mail,return receipt requested and <br /> shall state: <br /> i. The reasons for the termination; <br /> ii. That the City has seven(7)days from the receipt of the notice to cure the prob- <br /> lems stated in the notice;and, <br /> iii. That the failure to cure such problems will cause the Agreement to be ter- <br /> minated on the seventh(7th) day from receipt of the notice, unless the <br /> time for cure is extended in writing,at the Contractor's sole discretion. <br /> c. If the Agreement is terminated pursuant to this Paragraph 13,the Contractor shall <br /> be paid only for that portion of the Work completed in a satisfactory manner, as <br /> determined by Owner and City. <br /> v.9.2025 4 <br />