Common use of Contractor’s Failure to Perform Clause in Contracts

Contractor’s Failure to Perform. If Contractor fails to perform any of its obligations under this Agreement, Owner may, after seven days’ written notice during which period Contractor fails to initiate the performance of such obligation, make good such deficiencies. The TIC shall not be increased as a result of Owner making good such deficiencies. CONTRACTOR INITIALS & DATE: /S/ SNR 8/7/07 OWNER INITIALS & DATE: /s/ DS 8/7/07

Contractor’s Failure to Perform. If Contractor fails to perform any of its obligations under this Agreement, Owner Owner, without prejudice to any other right or remedy, may, after seven days’ (7) days written notice during which period Contractor fails to initiate the performance of such obligation, make good such deficiencies. The TIC Contract Price, if any, shall not be increased as a result reduced by the cost to Owner of Owner making good such deficiencies. CONTRACTOR INITIALS & DATE: /S/ SNR 8/7/07 OWNER INITIALS & DATE: /s/ DS 8/7/07.