2020.01.28 CC Packet - Laserfiche WebLink

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Rev. 0002 _____|_____ Buyer Seller Initial Initial 6 11. TERMINATION. Except in the case of an actual breach of the Contract, neither party shall have the power to terminate the contract unilaterally; both parties must act together to terminate the contract, and a termination may be accomplished only by a writing signed by both parties. Where the contract is unilaterally terminated by Buyer or terminated by Seller following the breach, insolvency or bankruptcy of Buyer, Buyer shall be liable for the damage to Seller. Said damages shall include all consequential and incidental damages to Seller resulting from said termination, including without limitation, Seller's lost profit and costs, including Product and materials, incurred by Seller in beginning performance under the contract and in suspending its performance, including all resulting liability incurred with third parties. Where the contract is unilaterally terminated by Seller or terminated by Buyer following the breach, insolvency or bankruptcy of Seller, Seller shall be liable for the damages to Buyer. Said damages shall include, but are not limited to, all consequential and incidental damages resulting from said termination, including all resulting liability incurred with third parties. 12. BUYER NON-COOPERATION. Seller may suspend the Work upon the occurrence of any of the following: (1) Seller reasonably believes that Buyer is not cooperating in completing the Work, (2) Buyer places unreasonable demands on Seller or Seller’s subcontractors, (3) Buyer fails or refuses to furnish Seller with access to the Site, or (4) Buyer has not or is not complying with any of this Contract’s terms. Upon notice of suspension of the Work for any of the above reasons, Buyer must provide Seller with assurances satisfactory to Seller of Buyer’s willingness and ability to meet all of Buyer’s obligations under this Contract. If the Work has stopped for any reason for more than 30 days, Seller may terminate this Contract and recover from Buyer payment for all Work completed, and for all losses sustained by the Seller on all materials, machinery, equipment or tools, overhead, soft costs, profit and damages. 13. TIME. Seller agrees to start work on engineering the building when the engineering or down payment deposit has been received. 14. TIME DELAYS. 14.1. Delays After Contract Signature. If the start of the Work is delayed more than sixty (60) days from this Contract’s date, due to delays caused by Buyer or Buyer’s lender, Seller will have the right to increase the total price under this Contract by an amount calculated at a rate of 1.5% per month, or the highest rate permitted by law, whichever is less, beginning on the 61st day of delay. If the cost of materials or labor has increased by more than 5% before the Work is started, Seller may terminate this