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<br />.SECTION 12 - TERMINATION OF CONTRACT <br /> <br />12.1 OWNERS RIGHT TO TERMINATE CONTRACT <br /> <br />The Owner shall have the right to terminate the services of the <br />~acractor and take possession of the premises and of all materials, <br />tools and equipment and, after seven (7) days written notice to the <br />Contractor of such termination, the Owner may finish the work by <br />whatever methods he deems expedient. Such written notice shall be <br />to the Contractor and his Surety and shall state that just cause <br />exists for such action and may be done without prejudice to any other <br />right or remedy and may be given for any of the following: <br /> <br />A. If the Contractor is adjudged a bankrupt or insolvent, or if he <br />makes a general assignment for the benefit of his creditors, or <br />if a trustee or receiver is appointed for the Contractor or for <br />any of his property; <br /> <br />B. If the Contractor fails to make prompt payments for materials or <br />labor, or to Subcontractors; <br /> <br />... <br />. <br /> C. <br />~j <br />1 D. <br /> <br />If the Contractor repeatedly fails to supply sufficient skilled <br />workmen, enough equipment, or suitable materials; <br /> <br />If the Contractor disregards laws, ordinances, regulations or <br />orders of any public body having jurisdiction, or if he disre- <br />gards the authority of the Engineer; <br /> <br />1 <br /> <br />E. If the Contractor otherwise violates any provision of the Contract <br />Documents; <br /> <br />'-, <br /> <br />J <br />] <br />1 <br />'] <br />] <br />J <br />J <br />J <br /> <br />In case of termination of contract the Contractor shall not be en- <br />titled to receive any further payment until the work is finished. <br />If the unpaid balance of the Contract Price exceeds the direct and <br />indirect costs of completing the project, including compensation for <br />additional professional services, such excess shall be paid to the <br />Contractor. If expenses to complete the work exceeds the unpaid <br />balance, the Contractor shall pay the difference to the Owner. Such <br />costs incurred by the Owner shall be determined by the Engineer and <br />incorporated in a change order. <br /> <br />Termination of the Contract by the Owner, will not affect any of the <br />rights of the Owner as against the Contractor or his surety then ex- <br />isting or which may thereafter accrue because of such default. Any <br />retention or payment of moneys by ~he Owner due the Contractor will <br />not release the Contractor from liability. <br /> <br />r!(o_17 <br /> <br /> <br /> <br /> <br />