RIDGE VIEW COMMONS - CONSTRUCTION LOAN

ARTICLE 9 BASIS OF COMPENSATION The Owner shall compensate the Architect for the Services provided, in accordance with Article 4, Payments to the Architect, and the other Terms and Conditions of this Agreement, as follows: 9.1 AN INITIAL PAYMENT of ZERO dollars ($ — — shall be made upon execution of this Agreement and credited to the Owner's account as follows: 9.2 BASIC COMPENSATION 9.2.1 FOR BASIC SERVICES, as described in Paragraphs 1.1 through 1.4 or identified as such in Article 10, Basic Com- pensation shall be computed as follows: (Here insert basis of compensation, including fixed amounts, multiples or percentages, and Identily Phases to which particular methods of com- pensation apply, 11 necessary.) Compensation for services rendered by Principals, Employees and professional consultants shall be based on a multiplier of two and one half (2 -1/2) times direct personnel expense. 9.2.2 Where compensation is based on a Stipulated Sum or Percentage of Construction Cost, payments for Basic Ser- vices shall be made as provided in Subparagraph 4.2 so that Basic Compensation for each Phase shall equal the following percentages of the total Compensation payable: (Include any additional phases as appropriate.) Design Phase: Construction Documents Phase: Bidding or Negotiation Phase: Construction Phase: N/A AIA DOCUMENT BM • OWNER.ARCHITECT AGREEMENT FOR HOUSING SERVICES • IUNE 1978 EDITION • AIAO m 1978 • THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE. N,W., WASHINGTON, D.C. 20006 percent( % percent ( %) percent ( % ) percent ( %) 9.3 FOR ADDITIONAL SERVICES provided under Paragraph 1.5 or identified as such in Article 10, compensation shah be computed as follows: Same as Paragraph 9.2.1 above. (Here insert basis of compensation, including rates and/or multiples 01 Direct Personnel Expense for Principals, consultants and employees. Iden- tify specific types of consultants in Article 10, if required.) 9.4 Payments due the Architect and unpaid under this Agreement shall bear interest from the date payment is due at the rate entered below, or in the absence thereof, at the legal rate prevailing at the principal place of busi- ness of the Architect. Billings unpaid thirty (30) days after date of (Here insert any rate of interest agreed upon.) invoice shal 1 bear interest at one and one hal f percent (1 -1/2 %) per month. (Usury laws and requirements under the Federal 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 or the Project and elsewhere may affect the validity 01 this provision. Specific legal advice should be obtained with respect to deletion, modification, or other requirements such as written disclosures or waivers.) 9.5 The Owner and the Architect agree in accordance with the Terms and Conditions of this Agreement that: 9.5.1 IF THE SCOPE of the Project or of the Architect's Services is changed materially, the amounts of compensation shall be equitably adjusted. 9.5.2 IF THE SERVICES covered by this Agreement have not been completed within Twenty Four ( 24) months of the date hereof, through no fault of the Architect, the amounts of compensation, rates and multiples set forth herein shall be equitably adjusted. B181-1978 6