EFTA02678273

4.0 PROPOSED FEES We propose to provide this scope of professional Interior Design services for a fixed fee of $96,000, plus a not to exceed allowance of $5,000 for reimbursable expenses. An initial, non-refundable deposit payment of $15,000 is to be paid upon execution of this agreement and commencement of the Conceptual/Schematic Design phase. For your information, the balance of our proposed fee is due and payable based on the following phased payment schedule: Phase Fee Conceptual/Schematic Design: $20,000 (6 permanent / 4 temporary) Design Development: $20,000 Construction Documentation: $5,000 Construction Administration: $5,000 Total Project Design Fees: $50,000 Payment Due Date: $15,000 due upon execution We will invoice monthly; payments are due and payable upon receipt of invoice. Amounts unpaid thirty (30) days after the invoice date shall b at a rate of 2.00% monthly. Failure of the Owner to make payments to in accordance with ese terms shall be considered substantial nonperformance an is su (cent cause fo to either suspend or terminate services until such time as remuneration is forthcom Reimbursable expenses:. All expenses incurred in connection with the Project including, but not limited to, reproduction and copies; facsimile, postage and overnight delivery; travel costs for airfare, train, hotel and meals; and finish/material samples and sample mock-ups will be reimbursed by the Owner. 5.0 ADDITIONAL SERVICES Additional Services, if required, shall be provided subject to a written addendum to the contract, on a time and material basis per our standard hourly billing rates below or as a fixed fee as requested by the Owner. A. Hourly rates as follows: Principal: $125 per hour Project Designers: $80 per hour CAD Draftsman and Staff/Jr. Designers: $65 per hour Admin Staff: $45 per hour B. Other methods of compensation (fixed fee, % of const. cost, etc.). 6.0 GENERAL CONDITIONS Direction to proceed (written, verbal or otherwise) with the work stipulated in this Proposal constitutes acceptance of this Proposal in full, including all terms and conditions, unless amended or superseded by another Agreement. EFTA_R1_01975767 EFTA02678273