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, � <br /> � � <br /> ARTICLE III <br /> Compensation <br /> OWNER and ARCHITECT agree that this is a cost-plus-fixed-fee contract, and that <br /> compensation from OWNER to ARCHITECT will be contingent upon actual costs for: (i) direct <br /> labor; (ii) overhead; (iii) direct services; (iv) profit (fixed fee); and subcontract costs. OWNER <br /> agrees to pay ARCHITECT in accordance with the approved Scope of Work, an amount not to <br /> exceed Ninetv-nine thousand, six hundred eiqhtY-seven dollars ($99,687.00) as the <br /> maximum compensation for the Architectural/Engineering services identified in Attachment#1 of <br /> this AGREEMENT. The total compensation shall be based upon the actual services provided <br /> and expenses incurred. Approved changes in these services, which will become written <br /> amendments to this AGREEMENT, may result in an adjustment to the amount of compensation <br /> to which ARCHITECT and OWNER initially agree. <br /> Basis for Determininq Compensation Amount <br /> The basis for determining the actual amount of the aforementioned compensation shall <br /> be in accordance with the Schedule of Fees and Estimated Expenses, which is Attachment #2 <br /> of this AGREEMENT. No mark-up fee will be allowed for those items considered as subcontract <br /> services. <br /> If all work tasks contained in the Scope of Work are satisfactorily completed by <br /> ARCHITECT and accepted b OWNER, the fixed fee will be in accordance with Attachment #2, <br /> not to exceed Ten thousand, five hundred seventv dollars (10,570.00) . This fixed fee will <br /> not change unless the PROJECT's Scope of Work is amended in writing, and a revised fixed <br /> fee is negotiated. If this AGREEMENT is terminated prior to the completion of the Project, the <br /> fixed fee will be proportional to the percentage of work tasks completed and accepted, unless <br /> the termination was the result of a breach of contract by ARCHITECT. In such a situation, the <br /> fixed fee due will be negotiated or determined by a court of law as specified in Article VII of this <br /> AGREEMENT. <br /> Submission of Invoices: Method of Payment <br /> Payments for services or materials provided hereunder shall be authorized by OWNER <br /> following the completion of the work tasks or provision of such materials, and the acceptance of <br /> the end-products, unless otherwise approved in writing by OWNER. No payment shall be made <br /> for any service rendered or material provided by ARCHITECT except those services or ; <br /> materials identified and set forth in this AGREEMENT. The amount requested by ARCHITECT , <br /> each billing for the fixed fee shall be proportional to the percentage of project completion as ', <br /> determined by an approved progress report. I <br /> OWNER shall pay ARCHITECT for services performed and materials purchased under � <br /> this AGREEMENT upon receipt of each request for payment invoice. ARCHITECT shall submit �I <br /> to OWNER a request for payment invoice for services rendered and materials procured not later <br /> than the fifteenth calendar day of the month succeeding the month in which the work tasks were <br /> completed or the materials were obtained. The method of payment of each invoice shall be an <br /> OWNER check, which will be forwarded to ARCHITECT within forty-five (45) calendar days of , <br /> the receipt of the request for payment invoice. ARCHITECT agrees to forward any payments <br /> due to its subcontractors and suppliers for this Project within thirty (30) calendar days of <br /> ARCHITECT's receipt of payment from OWNER. <br /> 3of16 <br />