Common use of Fee and Expense Clause in Contracts

Fee and Expense. The CLIENT agrees to pay the CONSULTANT a Lump Sum Fee according to Exhibit 2 of this Agreement for Rebidding Services. The Lump Sum Fee for Rebidding Services is a total of One Thousand Dollars ($1,000.00) plus reimbursable expenses as outlined in Exhibit 2 and for the Scope of Services as shown in Exhibit 1 of this Agreement. The CLIENT agrees to pay the CONSULTANT a fee based on the actual hours expended on Construction Engineering at the rates indicated in the attached Fee Schedule; Exhibit 2 and the actual reimbursable expenses permitted under this Agreement and incurred on the Project, but not to exceed a maximum fee of Eighteen Thousand Dollars ($18,000.00). This fee for Construction Engineering is based on the Scope of Services in Exhibit 1 of this Agreement. Payment of the Professional Fees and reimbursables shall be made by the CLIENT according to the schedule and upon completion of work as shown in Exhibit 2. Other methods of compensation are allowed only after written approval by both parties to this Agreement. Payment is due within thirty (30) days of billing by the CONSULTANT and any late payment will incur an interest charge of one and one-half (1½) percent per month.