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<br />1- <br />11.1.3 A third payment in an amount not to exceed $5,004.00 is requested not less than <br />thirty (30) calendar days after client authorized the consultant to begin <br />? development of technical performance specifications. It is intended that draft <br />specifications be submitted with the invoice. <br />i <br />11.1.4 A fourth payment in an amount not to exceed eight and one-half percent (8.5%) <br />? of the gross contract price, less $5,000.00, which may be awarded by Client to <br />any successful Bidder submitting a bid in response to the proposed specifications <br />i offered herein. Payment of this amount to Consultant is requested within thirty <br />(30) calendar days following the date of any such award to any successful Bidder. <br />i <br />11.1.5 Consultant proposes to submit invoices for extraordinary expenses and fees, if <br />I any, at intervals of approximately thirty (30) calendar-days. Payment of these <br />? invoices is requested within thirty (30) calendar-days following the date of the <br />invoice. <br />? 11.1.6 Any payment-in-full not received within thirty (30) calendar-days following the <br />? date of any invoice shall be subject to a late charge of 1.5% per month or fraction <br />thereof (18% annual percentage rate) on any unpaid balance. Client specifically <br />I agrees to honor in a timely manner without dispute any such late charge(s). <br />? 11.1.7 Consultant reserves the right and may exercise the option to suspend or cease <br />any or all efforts on behalf of Client without notice in any event where Client <br />? payments are more than thirty (30) calendar-days past due. Client agrees that any <br />cessation or suspension of work by Consultant on behalf of Client resulting from <br />? Client failing to make payment(s) as scheduled shall not result in any penalty(ies) <br />or claim(s) being levied by Client against Consultant. <br />I <br />? CITY OF NORTH OLMSTED-• PROPOSAL NUMBER MP-950710.2 <br />PAGE 11 <br />I <br />? <br />STEIGER, HURRAY & ASSOCIATES INC <br />HINCKLEY, OHIO 44233 <br />....f?y3=?. YP . .?... ? . ... . . .. ... . ?. .. . . . . . . .. . . . . .. . .. _ >m+ ....... . . ..::. . . ,.,;x NMylt^ny.yuN?'f#WM39!xa?f?dM?'Y-'"f x?w^,:,x. ?, . . , ....< . ...... .. , . . . . . . . <br />, I