ELM INC. - 2013 - Laserfiche WebLink

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TERMS OF AGREEMENT BASIS OF COMPENSATION ELM fees for professional . services are based on the hours spent on a project or phase of design, with a not to exceed maximum per Phase. Principal time is billed at $185 /hour with designers and support personnel billed from $40 /hour to $163 /hour as appropriate. Reimbursable expenses are billed at cost plus an administrative fee of 1.15% in addition to the fees for professional services and shall include all travel - related expenses, long distance telephone calls, printing, photography, reproductions, copies of drawings and specifications, courier services, consultants, etc. The fees for professional services are for their scope of work described in the Proposal. Additional services such as revisions to approved drawings, preparation of record or as -built drawings, meetings and presentations in addition to those listed in the Proposal, additional construction observation, report publication and any other services approved by the Client shall be paid at the appropriate hourly rates. PAYMENTS Monthly payments are due upon acceptanceof the invoice. As a matter of service, each invoice will be accompanied by a description of the activities completed during the representative period. Such description shall include the charges for each Phase invoiced, the percent completed for each Phase and the total percentage progress for each Phase to date. If payments are not received within 30 days of the invoice date, work will be discontinued and the unpaid balance will bear interest at the rate of 1.5% per month until paid. Retainers when collected shall be credited on the final invoice. ACCEPTANCE The proposal is subject to renegotiation if acceptance is not made within 30 days. The fees and terms shall remain in effect for one year from the date of signature of the Agreement, and shall be subject to revision at that time, or any time thereafter if ELM gives written notice to the other party 60 days prior to the requested date of revision. In the event that the parties fail to agree on new rates, the Agreement may be terminated by either party upon seven days' written notice. COMMENCEMENT OF WORK Work will commence when ELM receives both a signed Agreement and the initial payment or retainer specified in the Proposal. TERMS OF THE AGREEMENT The Agreement may be terminated by either party upon seven days' written notice for good cause by either party. In the event of ELM termination for cause, ELM shall be paid for all services performed to termination date including reimbursable expenses. ARBITRATION Claims, disputes or other matters in question relating to this Agreement between ELM and the Client shall be subject to and decided by independent arbitration in accordance with the Construction Industry Arbitration Rules of the American Arbitration Association currently in effect unless all parties mutually agree otherwise. No claim amount resulting from errors or omissions may be ELM's responsibility in excess of the professional fee charged and received for this project. COST ESTIMATES Estimates of project costs and construction costs are made on the basis of experience, qualifications and best judgment as a design professional familiar with the industry. It is recognized, however, that neither consultant nor client has any control over construction costs and therefore, ELM cannot guarantee cost estimates. PUBLICITY Accurate credit is required whenever the project is publicized or exhibited. Specific authorization in writing is required for all publicity which utilizes ELM's name in conjunction with project promotion. 14