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Subcontract—December 2,2015 <br /> IHC and Ames Construction, Inc. <br /> Page 5 of 11 <br /> 7. If the Subcontractor fails to commence work at the time required, prosecute the work diligently, make the <br /> Progress required by Contract schedule, furnish a sufficient number of properly skilled workmen or a <br /> sufficient quantity of suitable materials or adequate equipment to meet obligations of this Subcontract, <br /> perform the work in the order and sequence directed, or correct or replace any damaged or defective work or <br /> materials, the Contractor, at its option and in addition to and without prejudice to any other rights afforded <br /> herein or by law, shall give the Subcontractor dwee-(-34 five (5) working days written notification to correct <br /> any such deficiencies. If the Subcontractor after any such written cure period notification does not correct the <br /> defects or defaults specified within the time set forth in the notice, then the Subcontractor shall be considered <br /> in material breach of the Subcontract Agreement; and the Contractor shall have full power and authority to <br /> take any steps necessary or required to complete the work as required by the Contract. The Contractor shall, <br /> upon written notice, have the right to expedite deliveries and to procure and furnish such labor, materials, <br /> tools, subcontract services,equipment and incidentals as may be required to correct any such default, whether <br /> through partial or complete supplementation, until such time as subject default no longer exists under the <br /> terms and conditions of this Subcontract Agreement. Subcontractor shall bear all costs and damages incurred <br /> by Contractor in connection with such supplementation; and the Contractor shall have the right to deduct the <br /> same from any monies then due or thereafter to become due to Subcontractor, pursuant to this Subcontract <br /> Agreement or any other agreement between Contractor and Subcontractor; and Subcontractor shall pay any <br /> unpaid balance to Contractor. Subsequent to such supplementation, the Contractor reserves the right to <br /> terminate this Subcontract Agreement if the Subcontractor cannot rectify or show substantial progress toward <br /> rectifying the defaulted provisions of this Subcontract if it is determined by the Contractor to be in the best <br /> interest of the subject project to do so but only after the Contractor has given the Subcontractor an additional <br /> three(3)five(5)day notification of cure period in writing. <br /> The Contractor may elect, after the Subcontractor's failure to adequately remedy its breach within the cure <br /> period and without the requirement of the Contractor's discretionary use of supplementation as defined in this <br /> Article, to terminate this Subcontract and the Subcontractor's right to proceed and remove the Subcontractor <br /> from the project. Upon termination of the Subcontract, the Contractor may elect to take over the prosecution <br /> of the work and complete or correct it with its own forces; or the Contractor may have the work completed or <br /> corrected through the utilization of other forces and may use the Subcontractor's materials, supplies, tools and <br /> equipment to complete the work. The Contractor shall have the right to assignment at its sole discretion of <br /> any applicable agreements between the Subcontractor and material suppliers,truckers, other subcontractors or <br /> service providers related to completion of the Subcontractor's work. The Subcontractor agrees to cooperate <br /> and execute any documents necessary to authorize this assignment. In the event the Contractor performs <br /> work on the Subcontractor's items of work under the supplementation or termination provisions of this <br /> Article, the Contractor shall be entitled to a reasonable markup on direct cost for overhead and profit of no <br /> less than five percent (5%)overhead and five percent(5%)profit. <br /> The Subcontractor shall be responsible to compensate the Contractor for arry-of d-all--ether direct costs or <br /> damages incurred as a result of Subcontractor's failure to timely prosecute the work, even if said work is <br /> actually completed by the Subcontractor. In the event the Subcontractor's default results in this Subcontract's <br /> termination and the Subcontractor's right to proceed is accordingly halted, any payment which may be due to <br /> Subcontractor may be withheld by the Contractor and applied toward any and all costs incurred by the <br /> Contractor to insure timely progress and completion of the work. Subcontractor shall not be entitled to <br /> receive any further payment under this Subcontract until the work is completed and has been accepted by the <br /> Owner; at which time, if the unpaid balance of the amount to be paid under this Subcontract, including an <br /> appropriate allowance for any use of the Subcontractor's tools,equipment, materials and supplies exceeds the <br /> expenses incurred and overhead and profit allowed to the Contractor in completing the work, such excess <br /> shall be paid by Contractor to Subcontractor; but, if such expenses shall exceed such unpaid balance, the <br /> Subcontractor shall immediately pay the difference to Contractor or the Contractor shall have the right to <br />