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12.2.2 COMPENSATION FOR THE ARCHITECT'S SERVICES, as described in Article I, Architect's Services and <br />Responsibilities, shall be computed as follows: <br />(Insert basis of compensation, including stipulated sums, multiples or percentages, and identify the services to which particular methods of compensation apply, if <br />necessary.) <br />Compensation for Services shall be $41,800.00, lump sum. <br />Compensation is based on a percentage of the Cost of the Work, so progress payments for Basic Services in each phase shall total the following <br />percentages of the total Basic Compensation payable: <br />Schematic Design Phase: <br />Design Development Phase: <br />Contract Document Phase: <br />Contract Administration Phase: <br />TOTAL BASIC COMPENSATION: <br />Twenty percent (20 %) <br />Twenty-five percent (25 %) <br />Forty -five percent (45 %) <br />Ten percent (10 %) <br />One hundred percent (100 %) <br />HOURLY RATE COMPENSATION: Hourly rate compensation shall apply to Additional Services. <br />with the following schedule: <br />Architectural Interiors: <br />Sara Weiner <br />Colleen Nelson <br />Drafter <br />Virginia Pappas <br />$70.00 <br />$70.00 <br />$50.00 <br />$49.00 <br />Rates of compensation shall be in accordance <br />12.2.3 FOR REIMBURSABLE EXPENSES, as described in Article 9, and any other items included in Article 13 as Reimbursable <br />Expenses, a multiple of one (1. ) times the expenses incurred by the Architect, the Architect's employees and consultants in the <br />interest of the Project. <br />12.2.4 Payments are due and payable thirty (30 ) days from the date of the Architect's invoice. Amounts unpaid thirty (30 ) <br />days after the invoice date shall bear interest at the rate entered below, or in the absence thereof at the legal rate prevailing from time <br />to time at the principal place of business of the Architect. <br />(Insert rate of interest agreed upon.) <br />6% <br />(Usury laws and requirements under the Federal Truth in Lending Act, similar slate and local consumer credit laws and other regulations at the Owner's and <br />Architect's principal places of business, the location of the Project and elsewhere may affect the validity of this provision. Specific legal advice should be obtained <br />with respect to deletions or modifications, and also regarding other requirements such as written disclosures or waivers.) <br />12.2.5 IF THE SERVICES covered by this Agreement have not been completed within ( ) months of the date hereof, through no <br />fault of the Architect, the amounts of compensation shall be equitably adjusted. <br />Insert A: NOT APPLICABLE <br />ARTICLE 13 <br />OTHER CONDITIONS <br />NOT APPLICABLE. <br />This Agreement entered into as of the day and year first written above. <br />OWNER RCHITECT <br />rfif efS <br />(Signature) <br />(Printed name and title) <br />OWE P <br />I l/h4( <br />4-AM <br />AIA DOCUMENT B177 - ABBREVIATED FORM OF AGREEMENT FOR INTERIO DESIGN SERVICES - 1990 DITION - AIA - COPYRIGHT 1990 - THE <br />AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, N.W., ASHINGTON, D.C., 2000 -5292 - ASID - COPYRIGHT 1990 - THE <br />AMERICAN SOCIETY OF INTERIOR DESIGNERS, 608 MASSACHUSETTS AV UE, N.E., WASHINGTO , D.C., 20002.; Unlicensed photocopying <br />violates U.S. copyright laws and is subject to legal prosecution. This document was electronically produced with permission of the AIA and can be reproduced <br />without violation until the date of expiration as noted below. <br />Electronic Format B177 -1990 <br />User Document: 9717INT.DOC -- 4/3/1998. AIA License Number 100329, which expires on 9/30/1998 -- Page #7 <br />