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current per -diem rates and the time required to incorporate the necessary <br />changes into our analysis and report. In addition, the estimate of timing will be <br />extended by an amount equal to the added work. <br />Payment Due Dates If payment for professional fees and out-of-pocket travel and related expenses is <br />not received within thirty (30) days of the billing date, HVS reserves the right to <br />suspend all work until payment is made and apply a service charge of 1.5% per <br />month, or fraction thereof, to the total unpaid sum. Should any type of action <br />become necessary to enforce collection of bills rendered, it is further agreed that <br />you (the client) or the prevailing party will be responsible for all collection costs, <br />including but not limited to court costs and reasonable legal fees. It is understood <br />that HVS may extend the time for payment on any part of billings rendered <br />without affecting the understanding outlined above. <br />Collection of The parties to this contract agree that any disputes regarding professional fees <br />Outstanding and/or other charges owed to HVS will be resolved in accordance with Texas law <br />Professional Fees (TS Worldwide is a Texas -based LLC with a home office location of 2601 <br />Sagebrush Drive, Suite 101, Flower Mound, Texas, 75028). The parties to this <br />contract further agree that (a) any legal action regarding money owed to HVS will <br />take place in Texas; (b) Texas courts have exclusive jurisdiction for resolution of <br />disputes; and (c) the plaintiff will have the choice of venue in any county in the <br />State of Texas. <br />Limitations of Liability It is agreed that our company's liability, our employees, and anyone else <br />associated with this assignment is limited to the amount of the fee paid as <br />liquidated damages. You acknowledge that any opinions, recommendations, and <br />conclusions expressed during this assignment will be rendered by the staff acting <br />solely as employees and not as individuals. Our responsibility is limited to the <br />client; use of our product by third parties shall be solely at the risk of the client <br />and/or third parties. The study described in this proposal will be made subject to <br />certain assumptions and limiting conditions. A copy of our normal assumptions <br />and limiting conditions will be provided upon request. <br />HVS Consulting and Valuation Services Proposal 8 <br />