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2. incorporate in the Work all materials and equipment stored at the Site or for which Owner ' <br /> has paid Contractor but which are stored elsewhere; and <br /> 3. complete the Work as Owner may deem expedient, including hiring contractors on any , <br /> contractual basis including payment under a cost plus contract <br /> C. If Owner proceeds as provided in Paragraph 15.023, Contractor shall not be entitled to receive ' <br /> any further payment until the Work is completed. If the unpaid balance of the Contract Price <br /> exceeds all claims, costs, losses, and damages (including but not limited to all fees and charges <br /> of engineers, architects, attorneys, and other professionals and all court or arbitration or other ' <br /> dispute resolution costs) sustained by Owner arising out of or relating to completing the Work, <br /> such excess will be-paid to Contractor. If such claims, costs, losses, and damages exceed such <br /> unpaid balance, Contractor shall pay the difference to Owner. Such claims, costs, losses, and ' <br /> damages incurred by Owner will be reviewed by Engineer as to their reasonableness and, when <br /> so approved by Engineer, incorporated in a Change Order. When exercising any rights or <br /> remedies under this Paragraph, Owner shall not be required to obtain the lowest price for the <br /> Work performed. <br /> D. Notwithstanding Paragraphs 15.023 and 15.02.C, Contractor's services will not be terminated if ' <br /> Contractor begins within seven days of receipt of notice of intent to terminate to correct its <br /> failure to perform and proceeds diligently to cure such failure within no more than 10 days of <br /> receipt of said notice. ' <br /> E. Where Contractor's services have been so terminated by Owner, the termination will not affect <br /> any rights or remedies of Owner against Contractor then existing or which may thereafter accrue. <br /> Any retention or payment of Monies due Contractor by Owner will not release Contractor from <br /> liability. <br /> F. If and to the extent that Contractor has provided a performance bond under the provisions of ' <br /> Paragraph 5.01.A, the termination procedures of that bond shall supersede the provisions of <br /> Paragraphs 15.02.B and 15.02.C. ' <br /> 15.03 Owner May Terminate For Convenience <br /> A. Owner may, at any time, terminate the contract in whole or in part for Owner's convenience and , <br /> without cause. Termination by Owner under this Paragraph 15.03 shall be by a notice of <br /> termination prepared by the Owner and delivered to Contractor indicating intent to terminate for <br /> convenience and the effective date thereof. <br /> 1. (Intentionally deleted) <br /> 2. (Intentionally deleted) ' <br /> 3. (Intentionally deleted) ' <br /> 4. (Intentionally deleted) <br /> B. Contractor shall not be paid on account of loss of anticipated profits or revenue or other ' <br /> economic loss arising out of or resulting from such termination. <br /> EJCDC C-700 Modified Standard General Conditions of the Construction Contract i <br /> Copyright©2007 National Society of Professional Engineers for EJCDC. All rights reserved. <br /> Page 78 of 81 <br />