North Platte - US Forest Service, Rocky Mtn Research Center - Contract

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.' . 6. TERM and EARLY TERMINATION A. Term-Work Commencement The term of this Contract shall commence on the Effective Date and terminate on June 30, 2013 unless sooner terminated as provided for below, herein. Performance of the Parties' respective obligations under this Contract shall begin as soon as practicable following commencement of the initial term. B. Holdover The Parties may mutually agree to extend the term of this Contract for a period not to exceed two months if the Parties are negotiating a replacement contract or term extension or an amendment to the Contract, at or near the end of any initial term or an extension thereof. The provisions of the Contract in effect when said notice is given, including, but not limited to prices, rates, and delivery requirements, shall remain in effect during said two month extension. However, the two-month extension shall immediately terminate when and if a replacement contract becomes effective following the Colorado State Controller's approval and signature. C. Early Termination This Contract is subject to early termination in accordance with the provisions of the Remedies section below herein. 7. PAYMENTS TO CONTRACTOR Contractor shall be compensated as follows: A. Basis and Maximum Amount The State shall pay Contractor for its services and reimburse it for its costs in accordance with Exhibit A. The maximum amount payable under this Contract to Contractor by the State shall be $376,923.48 for the project, as determined by the State from available funds. The State shall not be liable to pay or reimburse Contractor for any performance hereunder prior to the Effective Date. B. Payment i. Method and Time Contractor shall submit invoices quarterly to the State in the form and manner approved by the State and shall attach a status report in support of each remittance for each project. Contractor shall submit invoices within 60 days after the end of the period for which payment is requested, and final billings on this Contract must be received by the State within 60 days after termination hereof. The State shall make payment in full with respect to each invoice acceptable to it within 45 days of receipt thereof, after which uncontested unpaid amounts shall bear interest at a rate of one percent per month. Interest shall not arise if a good faith dispute exists as to the State's obligation to pay all or a portion of an invoice. Contractor shall invoice the State separately for interest on delinquent amounts due. The billing shall reference the delinquent payment, the number of days interest to be paid and the applicable interest rate. ii. Available Funds-Contingency-Remedies The State is prohibited by law from making fiscal commitments beyond the term of its current fiscal period. Therefore, Contractor's compensation is contingent upon the continuing availability of state appropriations as provided in §2 of the Colorado Special Provisions, set forth below herein. If federal appropriations or contracts fund this Contract in whole or in part, the State's performance hereunder is contingent upon the continuing availability of such funds. Payments pursuant to this Contract shall only be made from available funds encumbered for this Contract, and the State's liability for such payments shall be limited to the amount remaining of such encumbered funds. If state or federal funds are not appropriated, or otherwise become unavailable to fund this Contract, the State may immediately terminate the Contract in whole or in part without further liability in accordance with the Termination for Cause subsection of the Remedies section of this Contract. All payments are subject to the general Remedies section of this Contract. iii. Return of Funds Any funds paid to Contractor hereunder which are not expended in connection with this Contract shall be refunded by Contractor within 15 days of termination hereof. Any funds not required to Page 3 of 14