Agenda - 04-21-1987 - Laserfiche WebLink

Browse Search

6.2 In no event shall the demand for arbitration be .2 10 percent if termination occurs during the Con- made after the date when institution of legal or equitable struction Documents Phase,or proceedings based on such claim, dispute or other matter .3 5 percent if termination occurs during any subse- in question would be barred by the applicable statute of quent phase. limitations. 6.3 The award rendered by the arbitrators shall be ARTICLE 8 final,and judgment may be entered upon it in accordance MISCELLANEOUS PROVISIONS with applicable law in any court having jurisdiction thereof. 8.1 This Agreement shall be governed by the law of the principal place of business of the Architect. ARTICLE 7 8.2 As between the parties to this Agreement: as to all acts or failures to act by either party to this Agreement, TERMINATION OF AGREEMENT any applicable statute of limitations shall commence to run and any alleged cause of action shall be deemed to 7.1 This Agreement may be terminated by either party have accrued in any and all events not later than the upon seven days' written notice should the other parry relevant Date of Substantial Completion of the Work, and fail substantially to perform in accordance with its terms as to any acts or failures to act occurring after the relevant through no fault of the party initiating the termination. Date of Substantial Completion,not later than the date of 7.2 This Agreement may be terminated by the Owner issuance of the final Certificate for Payment. upon at least seven days' written notice to the Architect 8.3 The Owner and the Architect, respectively, bind in the event that the Project is permanently abandoned. themselves, their partners, successors, assigns and legal 7.3 In the event of termination not the fault of the representatives to the other party to this Agreement and Architect, the Architect shall be compensated for all to the partners, successors, assigns and legal representa- services performed to termination date, together with Re- tives of such party with respect to all covenants of this imbursable Expenses then due and all Termination Ex- Agreement. Neither the Owner nor the Architect shall penses as defined in Paragraph 7.4. assign, sublet or transfer any interest in this Agreement 7.4 Termination Expenses include expenses directly at- without the written consent of the other. tributable to termination for which the Architect is not 8.4 This Agreement represents the entire and inte- otherwise compensated, plus an amount computed as a grated agreement between the Owner and the Architect percentage of the total compensation earned to the time and supersedes all prior negotiations, representations or of termination, as follows: agreements,either written or oral.This Agreement may be .1 20 percent if termination occurs during the Design amended only by written instrument signed by both Phase, or Owner and Architect. MA DOCUMENT RIS1 • AUREVIATED OWNER-ARCHITECT AGREEMENT • JUNE WA EDITION • AIM S II151.197$ 0 157$• THE AMERICAN INSTITUTE Of ARCHITECTS,1775 NEW TORE AVENUE, N.W., WASHINGTON. D.C. 20006