RIDGE VIEW COMMONS - CONSTRUCTION LOAN

9.2 BASIC COMPENSATION Design Phase: Construction Documents Phase: Bidding or Negotiation Phase: Construction Phase: 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 ($ -0 - ) shall be made upon execution of this Agreement and credited to the Owner's account as follows: 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 identity Phases to which particular methods of com- pensation apply, if necessary.) Compensation for services rendered by Principals, employees, and professional consultants shall be based on a Multiple of Direct Personnel Expense in the same manner as decribed in Paragraph 10.2 and shall not exceed One Hundred and Thirty Thousand Dollars ($130,000) without further authorization. 9.2.2 Where compensation is based on a Stipulated Sum or Percentage of Construction Cost, payments for Basic Ser- vices shall be made as provided in Subparagraph 4.2 so that Basic Compensation for each Phase shall equal the following percentages of the total Compensation payable: (Include any additional phases as appropriate.) NOT APPLICABLE MA DOCUMENT 8181 • OWNER - ARCHITECT AGREEMENT FOR HOUSING SERVICES • IUNE 1978 EDITION • AIA® P 1978 • THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, N.W., WASHINGTON. D.C. 10006 percent ( %) percent( %) percent ( %) percent ( %) 9.3 FOR ADDITIONAL SERVICES provided under Paragraph 1.5 or identified as such in Article 10, compensation shall be computed as follows: See Article 10.2. (Here insert basis of compensation, including rates andfor multiples of Direct Personnel Expense for Principals, consultants and employees. Iden- tify specific types of consultants in Article 10, if required.) 9.4 Payments due the Architect and unpaid under this Agreement shall bearpMe;$s ; r tan ille 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. (Here insert any rate of interest agreed upon) Billings unpaid after thirty (30) days after date of invoice shall bear a service charge of one and one -half percent (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 Owners and Architect's principal places of business. the location of the Project and elsewhere may affect the validity of 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 eighteen (18 ) 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