R2001-180 AUTHORIZING THE EXECUTION OF A CONTRACT

Home Browse Search

� 7.4 � ARCHITECT'S ACCOUNTING RECORDS the Owner's authorized representative at mutually convenient times. 7.4.1 Records of Reimbursable Expenses and expenses pertaining to services performed on the basis of a multiple of Direct Personnel Expense shall be available to the Owner or ARTICLE 8 BASIS OF COMPENSATION The Owner shall compensate the Architect as follows: 8.1 AN INITIAL PAYMENT OF N/A Dollars($ -0-)shall be made upon execution of this Agreement and credited to the Owner's account at final payment. 8.2 COMPENSATION FOR THE ARCHITECT'S SERVICES, as described in Article 1, Architect's Services, shall be computed as follows: ' (Inserl basis of compensation, includmg stipulated sums mulliples or percentages, and identify the services to which particular methods of compensahon apply, rf ' necessary.) Stipulated Sum Phase 1 -Existing Conditions Anal� $55,000 Phase 2-Communitv Plannin�and Desi�n Charrettes $81,000 Phase 3 -Refine NeiQhborhood Vision $47,000 Phase 4-Draft Plan and Desi�n Guidelines $42,000 Phase 5 -Final Plan and Design Guidelines 20 000 Fee $245,000 Expense Upset Limits(not-to-exceed) 35 000 8.3 FOR REIMBURSABLE EXPENSES, as described in Article 7, and any other items included in Article 9 as Reimbursable Expenses, a multiple of one and one tenth ( 1.10 ) times the expenses incurred by the Architect, the Architect's employees and consultants in the interest of the Project. 8.4 Payments are due and payable thirtv ( 30 ) days from the date of the Architect's invoice. Amounts unpaid thirt ( 30 ) days after the invoice date shall bear interest at the rate entered below, or in the absence thereof, at the legal rate prevailing from time to time at the principal place of business of the Architect. (Insert rate of interest agreed upon.) Twelve percent per annum ' Billing will include; summarv of tasks performed and individuals involved. i (Usury laws and reguirements under the Federa[ Truth in Lending Act, similar state and local consumer credit laws and other regulations at the Owner's and Architect s principal places of business, the location of the Project and elsewhere may affect the va[idity of this provision. Specrfic legal advice should be obtained with respect to deletions or mod fcations,and also regarding other requirements such as ivrrtten d�sclosures or tivaivers.) 8.5 IF THE SCOPE of the Project or of the Architect's services is changed materially, the amounts of compensation shall be equitably adjusted. ARTICLE 9 OTHER CONDITIONS None AIA DOCUMENT B727-OWNER-ARCHITECT AGREEMENT-1988 EDITION-AIA-COPYRIGHT 1988-THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE N.W.,WASHINGTON D.C.,20006-5292.; Unlicensed photocopying violates U.S.copyright laws and is subject to legal prosecution. This document was electronically produced with permission of the AIA and can be reproduced without violation until the date of expiration as noted below. Electronic Format B727-1988 a User pocument: OWNER -- 10/3/2001. AIA License Number 110854, which expires on 12/30/2001 -- Page#5