New Search
to have in force any insurance required by this Agreement. <br />6.4 Except as provided in paragraph 7 below, in the event of a termination, <br />City shall pay Artist team for work performed to the date of termination. <br />7. Remedies. <br />7.1 In the event Artist team breaches this Agreement by failure to complete <br />the Work as specified in Section 2, City may complete the approved designs itself or <br />contract with another Artist team to complete the approved designs. In the case of <br />illness or accident to Artist team, City will consult with Artist team before assigning <br />Work to other Artist team. <br />7.2 If at the time of breach by Artist team, a scheduled payment is due Artist <br />team by City, City shall evaluate status of Artist team' work to date and determine fair <br />payment for work completed to that date. Fair payment shall not exceed 90% of the <br />next scheduled payment due Artist team. All subsequent payments shall be withheld <br />until the Work has been completed. <br />7.3 Any costs incurred by City in completing the designs or having them <br />completed by another artist team shall be paid by City, up to the remaining value of the <br />Agreement. City shall provide Artist team a written accounting of the costs incurred in <br />having the Work completed. <br />7.4 In the case of illness or accident to Artist team, if the delay period for <br />completing the Work exceeds two months past the completion date stated in Section 4, <br />City may terminate this Agreement. <br />'~ 7.5 The foregoing remedies provided to City for breach of this Agreement by <br />Artist team shall not be exclusive. City shall be entitled to exercise any one or more <br />other legal or equitable remedies available because of Artist team' breach. <br />7.6 In the event of breach of this contract by City, Artist team's remedy shall <br />be limited to termination of this Agreement and payment for work performed to the date <br />of termination. <br />8. Records/Insaection. <br />8.1 Artist team shall maintain records of its charges to City under this <br />Agreement for a period of not less than three full fiscal years following Artist team' <br />completion of this Agreement. Upon reasonable advance notice, City, or its authorized <br />representative, may from time to time inspect, audit and make copies of any of Artist <br />team' records that relate to this Agreement. <br />8.2 If any audit by City discloses that payments to Artist team were in excess <br />of the amount to which Artist team was entitled under this Agreement, Artist team shall <br />promptly pay to City the amount of such excess, plus interest calculated at current <br />market rate for the period of time such excess was held by Artist team. <br />Page 5 <br />