TERMINATION BY THE OWNER FOR CONVENIENCE OR NON-APPROPRIATION OF FUNDS. The Owner may, at any time, terminate the Contract for the Owner’s convenience and without cause. In such case, the Owner will provide the Contractor seven (7) days written notice of intent to terminate. Upon receipt of such notice, the contractor shall take immediate action to mitigate any damage or additional expense. The Contractor shall be entitled to receive payment for Work executed, and costs incurred by reason of such termination, including reasonable overhead and profit on Work executed. § 16.3.1 The terms of this Contract are contingent upon sufficient appropriations and authorizations being made by the Owner for the performance of this Contract. If sufficient appropriations and authorizations are not made by the Owner, this Contract shall terminate, without penalty or expense to the Owner of any kind whatsoever, upon written notice being given by the Owner to the Contractor. Upon receipt of such notice, the Contractor shall take immediate action to mitigate any damage or additional expense.
Appears in 13 contracts
Samples: Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project, Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project, Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project
